Cost of Goods Manufactured Excel Model Template
Originally published: 12/06/2018 15:41
Last version published: 16/01/2019 09:04
Publication number: ELQ-38458-5
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Cost of Goods Manufactured Excel Model Template

Excel model for scheduling the cost of good manufactured for your business

The Cost of Goods Manufactured Excel Model Template is a simple and easy to use spreadsheet model for monitoring and scheduling your business' cost of goods manufactured.
Costs of goods manufactured (COGM) is the sum of the total costs accumulated when manufacturing products and producing finished goods for sale.
This model will help you to construct a yearly analysis of these costs, helping you to make important financial decisions accordingly.

This one tab worksheet will allow you to calculate:

- Direct Materials Used in Production
- Total Manufacturing Costs
- Cost of Goods Manufactured for the Year
- Cost of Goods Sold

This information is based on a series of inputs taken from your finances, such as:

- Raw Materials Inventory
- Purchases of Raw Materials
- WIP Inventories

As such, this model is really quick and simple to use, but will provide you with essential financial information for your business. The cost of goods sold calculator and formula will help you to gain an understanding of your business' outgoings in comparison to its revenues.

This model uses the following formula to calculate the cost of goods manufactured:

COGM = Direct Materials Used + Direct Labor Used + Manufacturing Overhead + Beginning Work in Process Inventory - Ending Work in Process Inventory

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