A manufacturing company makes the products that it sells. Briefly identify and define the cost elements that are incurred in making a product.

11. A manufacturing company makes the products that it sells. Briefly identify and define the cost elements that are incurred in making a product. After product cost elements are identified, how is the cost of goods manufactured for a period determined?12. Are short term creditors, long term creditors, and stockholders primarily interested in the same characteristics of a company? Explain13. Quiltworks company reported actual sales of $2,000,000, and fixed costs of $450,000. The contribution margin ratio is 30%.(a) compute the break even point in dollars(b) compute the margin of safety in dollars and the margin of safety ratio