K18 PROTECTED VIEW Be careful-files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View, V X fx Enable Editing A B C D E F G H 1 Score: 0 2 ALT-FIVE-FORMULAS 4 3 To simplify the COGM statement, think of it as four formulas; the fifth is the calculation of COGS on the income statement. Using the data, calculate the following items on the COGM statement: 5 1 1. DIRECT MATERIALS COST BEG. RM + RM PURCHASES ENDING RM = 2. TOTAL MFG COST INCURRED = DM+DL + FO = 6 Choose Exercise (1-5) 8 COGM/COGS Data: 9 RAW MATERIALS 10 WORK IN PROCESS 11 FINISHED GOODS 12 13 RAW MATERIALS PURCHASES 14 DIRECT LABOR COST 15 FACTORY OVERHEAD COST 16 17 18 19 20 21 22 23 24 25 26 M THE O P 0 0 1/1/20 65,000 12/31/20 3. TOTAL MANUFACTURING COST BEG. WIP + TOTAL MFG COST INCURRED = 0 30,000 35,000 24,000 4. COST OF GOODS MANUFACTURED TOTAL MFG COST - ENDING WIP = 0 60,000 62,500 5. COST OF GOODS SOLD BEG. FINISHED GOODS + COGM-END. FINISHED GOODS = 0 100,000 110,000 44,000 x V