The three basic elements of manufacturing cost are direct materials, direct labor, and: Multiple Choice 1. cost of goods manufactured. 2. cost of goods sold. 3. work in process. 4. manufacturing overhead.

Answer: 4

Explanation: The Manufacturing cost equals labour, material plus overheads. The manufacturing overheads are not directly linked to the production process of the product but will still be incurred during the process of the production, and therefore are required to be paid.