Manufacturing Cost Accounting: Statements & Calculations

Posted on Feb 8, 2025 in Economy

State of Manufactured Articles

• Initial inventory of raw materials
• + Net purchases of raw materials
• Ready to process raw materials
• – Inventory end of raw materials (xxx)
• Processed raw materials
• + Direct labor
• + Plant overhead
• Processed product cost
• + Initial inventory of products in process
• Total cost of products in process
• – Final product inventory in process
• Cost of goods manufactured =

State of the Articles Sold

• Cost of goods manufactured
• + Initial inventory of finished products
• Total cost of finished goods
• – Ending finished goods inventory
• Cost of goods sold

Profit and Loss Statement

• Net sales
• – Cost of Goods Sold (xxxx)
• Income (loss) Gross
• – Selling and administrative expenses (xxxxx)
• Income (loss) =

State of Manufactured Articles

• Initial inventory of raw materials
• + Net purchases of raw materials
• Ready to process raw materials
• – Inventory end of raw materials (xxx)
• Processed raw materials
• + Direct labor
• + Plant overhead
• Processed product cost
• + Initial inventory of products in process
• Total cost of products in process
• – Final product inventory in process
• Cost of goods manufactured =

State of the Articles Sold

• Cost of goods manufactured
• + Initial inventory of finished products
• Total cost of finished goods
• – Ending finished goods inventory
• Cost of goods sold

Profit and Loss Statement

• Net sales
• – Cost of Goods Sold (xxxx)
• Income (loss) Gross
• – Selling and administrative expenses (xxxxx)
• Income (loss) =

State of Manufactured Articles

• Initial inventory of raw materials
• + Net purchases of raw materials
• Ready to process raw materials
• – Inventory end of raw materials (xxx)
• Processed raw materials
• + Direct labor
• + Plant overhead
• Processed product cost
• + Initial inventory of products in process
• Total cost of products in process
• – Final product inventory in process
• Cost of goods manufactured =

State of the Articles Sold

• Cost of goods manufactured
• + Initial inventory of finished products
• Total cost of finished goods
• – Ending finished goods inventory
• Cost of goods sold

Profit and Loss Statement

• Net sales
• – Cost of Goods Sold (xxxx)
• Income (loss) Gross
• – Selling and administrative expenses (xxxxx)
• Income (loss) =

State of Manufactured Articles

• Initial inventory of raw materials
• + Net purchases of raw materials
• Ready to process raw materials
• – Inventory end of raw materials (xxx)
• Processed raw materials
• + Direct labor
• + Plant overhead
• Processed product cost
• + Initial inventory of products in process
• Total cost of products in process
• – Final product inventory in process
• Cost of goods manufactured =

State of the Articles Sold

• Cost of goods manufactured
• + Initial inventory of finished products
• Total cost of finished goods
• – Ending finished goods inventory
• Cost of goods sold

Profit and Loss Statement

• Net sales
• – Cost of Goods Sold (xxxx)
• Income (loss) Gross
• – Selling and administrative expenses (xxxxx)
• Income (loss) =