Total manufacturing cost and cost of goods manufactured are used interchangeably?

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1112352

2026-05-04 14:26

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No! Total Manufacturing Cost (TMC) is : Direct Materials Used (DM Beg. Bal of DM+Purchases+transport in cost-returns-End balance of DM) + Direct Labor + Overhead Applied = Total Mfg. Cost

COGM: TMC (from above) + (beg. Work-in-process - end work-in-process) =COGM

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