Example of Production Report Dynamic Drones, Inc.

Cost of Production Report

For the year ended December $31,2023$

$\backslash$table$[[$DM$,$DM$,$DM$,$Conversion Total$],[$Plastic$,$Motors,Propellers Costs,$]]$

Beginning Balance Transferred In

$\backslash$table$[[$Beginning Costs,XXX$,$XXX$,$XXX$,$XXX$,$XXX$],[$Started and Completed,XXX$,$XXX$,$XXX$,$XXX$,$XXX$]]$

Costs Transferred to Finished Goods

$xxx$

$xxx$

$xxx$

Ending Costs in

Work$-$In$-$Process

XXX

XXX

$xxx$

$xxx$

$xxx$

$xxx$

Total Costs

Costs to Account For: Using a T$-$Account the COGM should be the same amount in the Cost of Production Report for Costs Transferred to Finished Goods and the WIP Process T$-$Account

Work In Process T$-$ Account

Beginning Work$-$In Process

Direct Materials

Direct Labor

Applied Factory Overhead

Ending WIP