Cost Accounting

Cost of Goods Sold Statement

Amount Units
Opening Materials
+ Purchases
- Closing Materials
Direct Material Cost
Direct Labor Cost
Factory Overhead Cost
Total Manufacturing Cost
+ Opening: Work in Process
Total Work in Process Cost
- Closing: Work in Process
Cost of Goods Manufactured
+ Opening: Finished Goods
Cost of Goods Available for Sale
- Ending: Finished Goods
Cost of Goods Sold