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The Cost of Goods Manufactured Excel Model Template is a simple and easy to use spreadsheet model for monitoring and scheduling your business' cost of goods manufactured.
Costs of goods manufactured (COGM) is the sum of the total costs accumulated when manufacturing products and producing finished goods for sale. This model will help you to construct a yearly analysis of these costs, helping you to make important financial decisions accordingly.
This one tab worksheet will allow you to calculate:
Direct materials used in production
Total manufacturing costs
Cost of goods manufactured for the year
Cost of goods sold
This information is based on a series of inputs taken from your finances, such as:
Raw materials inventory
Purchases of raw materials
This model uses the following formula to calculate the cost of goods manufactured:
COGM = Direct Materials Used + Direct Labor Used + Manufacturing Overhead + Beginning Work in Process Inventory - Ending Work in Process InventoryScreenshot from the template.
As such, this model is really quick and simple to use, but will provide you with essential financial information for your business. The cost of goods sold calculator and formula will help you to gain an understanding of your business' outgoings in comparison to its revenues. Use this Cost of Goods Manufactured Excel Model Template to schedule the cost of good manufactured for your business!
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1 Cost of Goods Manufactured Excel Model Template