Factory insurance costs for firms can be classified as product costs as they represent manufacturing overhead costs that can be allocated according to production units using activity-based costing.
Here we will look at casting and molding, machining, joining, shearing and forming.
General liability coverage is essential for manufacturing businesses, protecting against various claims related to operations, products or services provided. This type of coverage typically provides legal fees, damages, medical costs and public relations expenses associated with third-party claims against them.