Cost of Goods Manufactured Template

Written by CFI Team

Published April 13, 2018

Read Time 1 minutes

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Cost of Goods Manufactured Template

This cost of goods manufactured (COGM) template lays out a schedule of COGM using the amounts of direct materials, direct labor, manufacturing overhead, and work in process inventory.

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Schedule of Cost of Goods Manufactured Template Screenshot

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Cost of Goods Manufactured (COGM) is a term used in managerial accounting that refers to a schedule or statement showing the total production costs for the company during a specific period. COGM is the total cost incurred to manufacture products and transfer them into finished goods inventory for actual sale.

The formula to calculate the COGM is:

COGM = Direct Materials Used + Direct Labor Used + Manufacturing Overhead + Beginning Work in Process (WIP) Inventory – Ending Work in Process (WIP) Inventory

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