Schedule of the Cost of Goods Manufactured │Cost and Management Accounting

This Cost and Management Accounting Lecture covers a detailed discussion on the problem solving related to Schedule of the Cost of Goods Manufactured using standard format.
Subscribe to ‪@AcademicGainTutorials‬ for more Updated Videos!

[@edmandell3064]

Great Video. I work for a manufacturer. I have question on COGS pertaining to using manufactured aluminum to produce products . I received product as 10 foot form from my vendor, then for example: cut it down to 6 foot to send to an end user. My manager stated the reaminng 4 foot material is considered scrap since the Bill of materials extracted it in a printed production order from our ERP system . I question this, saying the remaining 4 foot material can be in fact, used for a future 4 foot order thus should remain in our inventory for future potential orders. What is the proper way to leave the reaminng 4 foot material in or out our inventory ?

[@goodman-it2qy]

Thanks 4 explain