Question

Is the added into the total cost of the product

Answer 1

Answer:

Total product costs can be determined by adding together the total direct materials and labor costs as well as the total manufacturing overhead costs. To determine the product cost per unit of product, divide this sum by the number of units manufactured in the period covered by those costs.

Answer 2

Total cost includes the fixed costs and the various costs incurred during the production of the product.

• The formula for a total cost of a product is

$total \: cost = fixed \: cost+ variable \: cost$

• The total cost of a product is the total amount of the cost incurred by the company during the manufacturing of the product and bringing it to the final stage for selling.
• It includes salary or wages, cost of raw materials, machinery cost, costs of transportation, etc