Cost of Goods Manufactured and Sold Statement Formulas


Cost of Goods Manufactured and Sold Statement Formulas:

 

Prime Cost = Direct Materials Cost + Direct Labor Cost

 

Total Factory Cost  or Manufacturing Cost = Direct Materials + Direct Labor Cost + Factory Overhead

 

Conversion Cost = Direct Labor Cost + Factory Overhead Cost

 

Cost of Goods Manufactured (COGM) = Total Factory Cost + Opening Work in Process Inventory – Ending Work in Process Inventory
Or
Cost of Goods manufactured = Direct materials cost + Direct labor cost + Factory overhead cost + Opening work in process inventory – Ending work in process inventory

 

Cost of goods sold (COGS) = Cost of goods manufactured + Opening finished goods inventory – Ending finished goods inventory
Or
Cost of goods sold = Direct materials cost + Direct labor cost + Factory overhead cost + Opening work in process inventory – Ending work in process inventory + Opening finished goods inventory – Ending finished goods inventory

 

Number of units manufactured = Units sold + Ending Finished Goods units – Opening finished goods units

 

Per unit cost of goods manufactured = Cost of goods manufactured / Units manufactured

 

Materials used or consumed = Opening inventory or materials + Net purchases of materials – Ending inventory of materials

Income statement formulas:

 

Gross profit = Net sales – Cost of goods sold

 

Operating profit = Gross profit – Operating expenses

 

Operating or commercial expenses = Selling or marketing expenses + General or administrative expenses

 

Per unit gross profit = Gross profit / No. of units sold

 

Per unit net profit = Net profit / No. of units sold

 

Percentage of GP to sales = (Gross profit / Net sales) × 100

 

Percentage of net profit to sales = (Net profit / Net sales) × 100

You may also be interested in other cost/managerial accounting formulas:

 

  1. Cost of Goods Manufactured, Sold, and Income Statement Formulas
  2. Cost Volume Profit (CVP) Formulas

 

Cost of Goods Manufactured and Sold Statement Formulas:

Prime Cost = Direct Materials Cost + Direct Labor Cost

Total Factory Cost  or Manufacturing Cost = Direct Materials + Direct Labor Cost + Factory Overhead

Conversion Cost = Direct Labor Cost + Factory Overhead Cost

Cost of Goods Manufactured (COGM) = Total Factory Cost + Opening Work in Process Inventory – Ending Work in Process Inventory
Or
Cost of Goods manufactured = Direct materials cost + Direct labor cost + Factory overhead cost + Opening work in process inventory – Ending work in process inventory

Cost of goods sold (COGS) = Cost of goods manufactured + Opening finished goods inventory – Ending finished goods inventory
Or
Cost of goods sold = Direct materials cost + Direct labor cost + Factory overhead cost + Opening work in process inventory – Ending work in process inventory + Opening finished goods inventory – Ending finished goods inventory

Number of units manufactured = Units sold + Ending Finished Goods units – Opening finished goods units

Per unit cost of goods manufactured = Cost of goods manufactured / Units manufactured

Materials used or consumed = Opening inventory or materials + Net purchases of materials – Ending inventory of materials

Income statement formulas:

Gross profit = Net sales – Cost of goods sold

Operating profit = Gross profit – Operating expenses

Operating or commercial expenses = Selling or marketing expenses + General or administrative expenses

Per unit gross profit = Gross profit / No. of units sold

Per unit net profit = Net profit / No. of units sold

Percentage of GP to sales = (Gross profit / Net sales) × 100

Percentage of net profit to sales = (Net profit / Net sales) × 100

You may also be interested in other cost/managerial accounting formulas:

  1. Cost of Goods Manufactured, Sold, and Income Statement Formulas
  2. Cost Volume Profit (CVP) Formulas

Other Related Accounting Articles:

Recommended Books !



Or

Download E accounting book in MS-word format for just 20 $ - Click here to Download
This entry was posted in Managerial Accounting and tagged , , , . Bookmark the permalink.

Comments / Questions

No Comments or Questions yet be the first to comment.



Leave a comment or question

(required)

(required)