If prime costs = DM + DL then is DM materials purchased or materials used?

Prime costs are found in the _____________ inventory account

Direct costs are found in the _____________ inventory account

Direct costs of production are found in the ______________ inventory account

Costs of production are found in the _____________ inventory account

The difference between TOTAL cost of production for the period and current period cost of production is _____________

In Work in Process inventory goods completed move to ___________ and can also be called __________ .

In finished goods inventory goods leaving finished goods go to _____________ . Goods can only leave finished goods if they are ______.

Net Income = ______ - ______ - ______

Gross Profit = ______ + ______