Cost of Goods Manufactured (COGM) Calculator
| Parameter | Description | Example Value |
|---|---|---|
| Direct Materials Used | The cost of direct materials used in production. | $100,000 |
| Direct Labor | The cost of direct labor involved in production. | $50,000 |
| Manufacturing Overhead | The total cost of manufacturing overhead. | $75,000 |
| Beginning Work in Process (WIP) Inventory | The value of work in process inventory at the beginning of the period. | $30,000 |
| Ending Work in Process (WIP) Inventory | The value of work in process inventory at the end of the period. | $20,000 |
| Cost of Goods Manufactured (COGM) | The total cost of goods manufactured. It is calculated using the formula: \(\text{Direct Materials Used} + \text{Direct Labor} + \text{Manufacturing Overhead} + \text{Beginning WIP Inventory} – \text{Ending WIP Inventory}\). | $235,000 |