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7
How do you find COGM, COGS, and Gross Profit? (An Intimidating Schedule)
Raw Materials
+Purchased
+BI
-EI
Raw Materials Used (direct and indirect)
Direct Materials Used
+Direct Labor
+MOH
Total Manufacturing Costs
WIP
+BI
-EI
COGM
Finished Goods
+BI
-EI
COGS
GP= Sales -COGS
+Purchased
+BI
-EI
Raw Materials Used (direct and indirect)
Direct Materials Used
+Direct Labor
+MOH
Total Manufacturing Costs
WIP
+BI
-EI
COGM
Finished Goods
+BI
-EI
COGS
GP= Sales -COGS
Flashcard info:
Author: savhighsmith
Main topic: Accounting
Topic: Accounting II
School / Univ.: UGA
City: Athens
Published: 06.07.2010