Calculating Cost of Goods Manufactured
Beg. FGI + _____ =
COGM COG available for sale
# of units sold x unit product cost =
COGS
Beginning Inventory + Purchases - Ending Inventory=
COGS
Step 3
Calculate Cost of goods manufactured
DM used + ___________ + _____________
DL, MOH
MOH=
IDM, IDL, Depreciation, utilities, insurance taxes
Step 1
calculate direct materials used
step 2
calculate total manufacturing costs incurred during the year
COG available for sale - __________=
end FGI COGS
Dm available for use - ________________=
ending DM, DM used
total manufacturing costs to account for - ____________=
ending WIP, COGM
Net sales revenue-COGS=
gross profit
gross profit - expenses=
operating income
Beginning Direct materials + ______________________ =
purchases of dm, dm available for use
Beginning WIP + ___________________________
total manufacturing costs incurred during the year
DM + DL + MOH=
total manufacturing costs incurred during the year
Beg. WIP + total Manufacturing costs incurred during the year=
total manufacturing costs to account for
tota COGS/# of items sold=
unit cost per item
total costs/total # of services=
unit cost per service
