Cost of Goods Manufactured (COGM)
Вставка
- Опубліковано 13 лют 2014
- This video explains the concept of Cost of Goods Manufactured (COGM). The video also provides an example Schedule of Cost of Goods Manufactured to show how to compute COGM.
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9 hours of explanations in class were incapable of doing what you did in just over six minutes. Thank You So Much!
I agree! my professor was teaching my class a different way and made everything so confusing. so thankful for youtube tutorials!
Awasome
Same bro.
7 years later this video has improved the lives of so many! the explanations online are TERRIBLE and you explained so SIMPLY AND SO EASILY!!!
the best COGM introduction vedio I have ever seen.
+黄事超 Thank you!
It took me a moment to realize the TMC here is also referred as product costs from my managerial accounting class, which is the same adding total of RM, DL, and O/H.
Thank you so much for your explainition.
😀
I really wonder why my lecturer couldn't have explained like this , so succinct, and easy to understand
I too was asking my self this question for a while
This helped clarify such a confusing concept for me! I feel so much more prepared for my exam. Thank you for everything you do!
Literally about to fail Accounting II, after my first professor retired. I finished with over 100% in his class. This was very helpful! Tysm! 😭😭
So, have you passed it?
Yea, I passed lol
@@KaylaNae84 Congrats! So, you are an accountant now?
I can't thank you enough for this video and all the videos you make! Thanks a million!
Happy to help. Thanks for watching!
Thank you!
I appreciate the small, simple numbers. Not realistic, but much more helpful as you try to understand the example!
Thank you..provides a lot of clarity for me
THANK YOU!! Now I understand!
Great job!
you are the best one it's only 6min explanation ,, thank you
Love the vid. But how do you calculate Beg. Raw Materials inventory if it's not given to you. Thanks in advance.
This is incredible .Thank You!
Nice explanation!
I do not have the ending work in process figure, just the beginning work in process and finished goods. How would i calculate the ending work in process in order to calculate the cost of goods manufactured? Thank you, great video and explanation.
Most helpful presentation on this topic.
Thank God for you.
Thank you very much for this videos !!
No problem!
thank you
Incredibly well done
Thanks!
NO match the way u explain the concept and deliver the same in very amazing manner ! Keep up such noble work 👍🏼
Thank you my friend!
great job man. great job
Thanks Step Bisimwa!
very helpful !
THANKS!
you are good teacher thank you very much
No problem. Thanks for watching!
Nice explanation ❤️
Is direct material used and raw material the same
thnk you
tysmmmm
❤
How do you calculate the direct labor?
In reality, you'd look at how many hours an employee worked on the product and multiply by the employee's hourly rate. If multiple people worked on the product, then you'd have to sum up the costs for each employee. This is why it is so important in job order costing to track all costs for making the product on a ticket. In this example, $75 of direct labor was simply stated in the problem and not calculated.
How can I calculate this problem?
Inventories January 1, 20X6 December 31, 20X7
Direct materials € 30,000 € 20,000
Work in progress 30,000 25,000
Finished goods 28,000 35,000
Additional information for 20X6:
Direct materials purchased € 110,000
Direct manufacturing labour payroll 90,000
Direct manufacturing labour rate per hour 10
Factory overhead rate per direct manufacturing labour-hour 7
For 20X6, what was the cost of goods manufactured?
1) € 35,000
2) €268,000
3) €273,000
4) €278,000
can you help me with some homework?
I'm stuck on a problem.
Sorry- I'm in the middle of teaching a summer course and haven't had much time to help students with homework. My apologies! I hope you are doing well in your course. Best wishes
wow i used to just know about COGS
but now I know that:
beg WIP
+DM USED
+DL
+OH
-end WIP
= COGM!!!!!!!!
Actually it is (Format)
+DM Used
+DL
+Direct Expenses
+FOH/MOH/OH
=COGM
+WIP BEG
-WIP END
=Total Cost Of Goods Manufactured
+FG BEG
+COGM
-FG END
=Cost Of Goods Sold :D
easiest video ................ thank you
Thank You.Yup! You got the cat by its tail.
lol, love it!
🤍🤍🤍🤍🤍
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i hate cost accounting
Thank you!