Cost of goods manufactured refers to the cost of goods brought to completion,whether they were started before or during the current accounting period.

Question

Quizplus · Accepted Answer

Cost of goods manufactured includes all costs associated with the production of goods, including beginning inventory, direct materials, direct labor, and factory overhead. It also includes any expenses incurred during the production process, such as rent, utilities, and depreciation of equipment. The cost of goods manufactured is important to determine the cost of goods sold and ultimately the profitability of a company.

Cost of Goods Manufactured Refers to the Cost of Goods