Cost of Goods Manufactured (COGM)

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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[@125MDxx]

9 hours of explanations in class were incapable of doing what you did in just over six minutes. Thank You So Much!

[@kayleenguyen7330]

I agree! my professor was teaching my class a different way and made everything so confusing. so thankful for youtube tutorials!

[@ahmadshahhussainnejati9752]

Awasome

[@justinetagal6997]

Same bro.

[@ElvisVasquez-z2o]

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!!!

[@charliewang2u]

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.

[@Edspira]

😀

[@黄事超]

the best COGM introduction vedio I have ever seen.

[@Edspira]

+黄事超 Thank you!

[@r3freshing]

This helped clarify such a confusing concept for me! I feel so much more prepared for my exam. Thank you for everything you do!

[@jiyoungyun7494]

I really wonder why my lecturer couldn't have explained like this , so succinct, and easy to understand

[@barnabasretta1600]

I too was asking my self this question for a while

[@joanl.7543]

I appreciate the small, simple numbers. Not realistic, but much more helpful as you try to understand the example!

[@KaylaNae84]

Literally about to fail Accounting II, after my first professor retired. I finished with over 100% in his class. This was very helpful! Tysm! 😭😭

[@paolorossi8470]

So, have you passed it?

[@KaylaNae84]

Yea, I passed lol

[@paolorossi8470]

@@KaylaNae84 Congrats! So, you are an accountant now?

[@c.helseadavis]

I can't thank you enough for this video and all the videos you make! Thanks a million!

[@Edspira]

Happy to help. Thanks for watching!

[@banaalchahwan8419]

you are the best one it's only 6min explanation ,, thank you

[@AbdulQadir-gf5nv]

NO match the way u explain the concept and deliver the same in very amazing manner ! Keep up such noble work 👍🏼

[@Edspira]

Thank you my friend!

[@josephalim]

Thank God for you.

[@camilledavy4807]

Thank you..provides a lot of clarity for me

[@MyFinancialFocus]

Nice explanation!

[@Drfresh1402]

Most helpful presentation on this topic.

[@timurmehmet2095]

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.

[@enlilmayfield2046]

Love the vid. But how do you calculate Beg. Raw Materials inventory if it's not given to you. Thanks in advance.

[@kalpachamika]

This is incredible .Thank You!

[@poochkane]

Incredibly well done

[@Edspira]

Thanks!

[@jesusneverexisted300]

Great job!

[@carmenzaragoza5896]

THANK YOU!! Now I understand!

[@kayleeclark2619]

Thank you!

[@tusharpant3137]

Nice explanation ❤️

[@brunnacoimbra2519]

Thank you very much for this videos !!

[@Edspira]

No problem!

[@stepbisimwa8141]

great job man. great job

[@Edspira]

Thanks Step Bisimwa!

[@mikael488]

THANKS!

[@mmmm-vm8qu]

you are good teacher thank you very much

[@Edspira]

No problem. Thanks for watching!

[@daricnd]

thank you

[@gheedkhouly1326]

very helpful !

[@bhavindhokia908]

Is direct material used and raw material the same

[@lukasrokenheptol3889]

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

[@misbahzaheer]

easiest video ................ thank you

[@5aizal]

thnk you

[@tess2049]

tysmmmm

[@GravitySk8boards]

How do you calculate the direct labor?

[@Edspira]

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.

[@ajmalazees4140]

❤

[@yoshinegus4019]

wow i used to just know about COGS but now I know that: beg WIP +DM USED +DL +OH -end WIP = COGM!!!!!!!!

[@JAFFER3657]

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

[@tuffybaxton6162]

can you help me with some homework? I'm stuck on a problem.

[@Edspira]

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

[@maxdread3230]

Thank You.Yup! You got the cat by its tail.

[@Edspira]

lol, love it!

[@T3alAl3in]

🤍🤍🤍🤍🤍

[@sonkim8264]

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[@josephdecker5660]

i hate cost accounting

[@jarizminrivera5999]

Thank you!