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Example of Production Report Dynamic Drones, Inc. Cost of Production Report For the year ended December 3 1 , 2 0 2 3 table
Example of Production Report Dynamic Drones, Inc.
Cost of Production Report
For the year ended December
tableDMDMDMConversion TotalPlasticMotors,Propellers Costs,
Beginning Balance Transferred In
tableBeginning Costs,XXXXXXXXXXXXXXXStarted and Completed,XXXXXXXXXXXXXXX
Costs Transferred to Finished Goods
Ending Costs in
WorkInProcess
XXX
XXX
Total Costs
Costs to Account For: Using a TAccount the COGM should be the same amount in the Cost of Production Report for Costs Transferred to Finished Goods and the WIP Process TAccount
Work In Process T Account
Beginning WorkIn Process
Direct Materials
Direct Labor
Applied Factory Overhead
Ending WIP
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