Cost of Goods Manufactured Statement
Cost of goods manufactured is the total cost incurred by a manufacturing company to manufacture product(s) during a particular period of time.
John Manufacturing Company, a manufacturer of soda bottles, had the following inventory balances at the beginning and end of 2018.
During 2018, the company purchased $1 000 000 of raw material and direct labor incurred of $1 600 000. Manufacturing overhead costs were as follows:
- Prepare Cost of goods manufacturing statement
About the Author
True Tamplin, BSc, CEPF®
True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.
True contributes to his own finance dictionary, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.