How to Prepare a Cost of Goods Manufactured Statement

Description
The cost of goods manufactured statement will display the cost of products that have been manufactured in a certain period of time by breaking down the costs into direct labour, direct materials, changes in work in progress, and manufacturing overhead. In the end, cost of goods manufactured will be added on to finished goods and put in the expenses as cost of goods sold.

This well explained and easy-to-follow video will help you to understand how to prepare your own cost of goods manufactured statement by a worked example on screen.

Length: 9 minutes 43 seconds