Cost of Goods Manufactured Template

Cost of Goods Manufactured Template

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

Here is a preview of the COGM template:

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 that shows the total production costs for the company during a specific period of time. COGM is the total cost incurred to manufacture products and transfer them into finished goods inventory for actual retail.

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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