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    SCGM

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    Hassan Iqbal
    This document outlines the schedule for calculating the cost of goods manufactured, including beginning with raw materials inventory and purchases, then deducting ending inventory to determine raw materials used in production. It also accounts for direct labor costs and manufacturing overhead costs to calculate total manufacturing costs. Finally, it factors in beginning and ending work in process inventory to arrive at the total cost of goods manufactured.

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    SCGM

    Uploaded by

    Hassan Iqbal
    44 views2 pages
    This document outlines the schedule for calculating the cost of goods manufactured, including beginning with raw materials inventory and purchases, then deducting ending inventory to determine raw materials used in production. It also accounts for direct labor costs and manufacturing overhead costs to calculate total manufacturing costs. Finally, it factors in beginning and ending work in process inventory to arrive at the total cost of goods manufactured.

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    This document outlines the schedule for calculating the cost of goods manufactured, including beginning with raw materials inventory and purchases, then deducting ending inventory to determine raw materials used in production. It also accounts for direct labor costs and manufacturing overhead costs to calculate total manufacturing costs. Finally, it factors in beginning and ending work in process inventory to arrive at the total cost of goods manufactured.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    44 views2 pages

    SCGM

    Uploaded by

    Hassan Iqbal
    This document outlines the schedule for calculating the cost of goods manufactured, including beginning with raw materials inventory and purchases, then deducting ending inventory to determine raw materials used in production. It also accounts for direct labor costs and manufacturing overhead costs to calculate total manufacturing costs. Finally, it factors in beginning and ending work in process inventory to arrive at the total cost of goods manufactured.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
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    Schedule for Cost of Goods Manufactured

    Direct Material
    Beginning raw materials inventory
    Add: Purchases of raw materials
    Raw materials available for use
    Deduct: Ending raw materials inventory
    Raw materials used in production
    Direct labor
    Manufacturing overhead

    Total manufacturing overhead cost


    Total manufacturing cost
    Add: Beginning work in process inventory
    Total work in process for the period
    Deduct: Ending work in process inventory
    Cost of goods manufactured

    Schedule for Cost of Goods Manufactured


    Direct Material
    Beginning raw materials inventory
    Add: Purchases of raw materials
    Raw materials available for use
    Deduct: Ending raw materials inventory
    Raw materials used in production
    Direct labor

    55000
    440000
    495000
    65000
    430000
    215000

    Manufacturing overhead

    Total manufacturing overhead cost


    Total manufacturing cost
    Add: Beginning work in process inventory
    Total work in process for the period
    Deduct: Ending work in process inventory
    Cost of goods manufactured

    380000
    1025000
    190000
    1215000
    222000
    993000

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