Cost of Goods Manufactured Statement

Written by True Tamplin, BSc, CEPF®

Updated on January 04, 2023

Cost of goods manufactured is the total cost incurred by a manufacturing company to manufacture products during a particular period.

Format

Cost of Goods Manufactured Statement Format

Example

John Manufacturing Company, a manufacturer of soda bottles, had the following inventory balances at the beginning and end of 2018. Inventory Balances During 2018, the company purchased $1,000,000 in raw materials and incurred $1,600,000 in direct labor. Manufacturing overhead costs were as follows: Manufacturing Overhead Costs Required:

  • Prepare a cost of goods manufactured statement

Solution:

Cost of Goods Manufactured Statement Solution

Cost of Goods Manufactured Statement FAQs

About the Author

True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True is a Certified Educator in Personal Finance (CEPF®), author of The Handy Financial Ratios Guide, a member of the Society for Advancing Business Editing and Writing, contributes to his financial education site, 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.

To learn more about True, visit his personal website, view his author profile on Amazon, or check out his speaker profile on the CFA Institute website.