Statement of Cost of Goods Sold

of a Manufacturing Entity
Description TK TK
Beginning Raw Materials (RM) XXX
Add: Cost of RM Purchased XXX
RM Available for Use XXX
Less: Ending RM (XXX)
Direct RM Used in Production XXX
Direct Labour XXX
Manufacturing Overhead XXX
Total Manufacturing Cost (TMC) XXX
Add: Beginning Work In Process (WIP) XXX
Less: Ending WIP (XXX)
Cost of Goods Manufactured (COGM) XXX
Add: Beginning Finished Goods (FG) XXX
Goods Available for Sale XXX
Less: Ending FG (XXX)
COGS XXX
Hints:
Prime Cost= Direct Material+ Direct Labour
Conversion Cost= Direct Labour + Factory Overhead

Income Statement Pro-Forma

of a Manufacturing Entity
Description TK TK
Net Sales XXX
Less: Cost of Goods Sold (COGS) (XXX)
Gross Profit (GP) XXX
Less: Operating Expenses:
Administrative Expenses XXX
Selling & Distribution Expenses XXX
Total Operating Expenses (XXX)
Net Operating Income (NOI) XXX