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3 October, 00:01

Which of the following accounts would not appear on a schedule of cost of goods manufactured?

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  1. 3 October, 00:27
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    The following accounts would appear on a schedule of cost of goods manufactured - Depreciation of factory equipment

    Explanation:

    The cost of goods manufactured (COGM) schedule is used to calculate the cost of all the items produced during a given reporting period.

    The cost of good manufactured schedule gives companies an idea about their production cost (i. e whether it is too high or low) in relation to the sales they are making

    The formula to calculate the COGM is:

    Add: Direct Materials Used

    Add: Direct Labor Used

    Add: Manufacturing Overhead

    Add: Beginning Work in Process (WIP) Inventory

    Deduct: Ending Work in Process (WIP) Inventory

    = COGM
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