The schedule of costs of manufactured goods serves to track the cost of production in a given time, in this way companies can have a clear control for a measured period of investments and profits, as this coronogram is incorporated into the schedule of goods sold.
In order to have good information on the cost of manufacturing, it must be taken into account how much the raw material that is going to be transformed costs, how much the working hours of the workers needed to transform the raw material cost, and how much the general manufacturing costs cost
Answer
True, The schedule of cost of goods manufactured contains three elements of product costs—direct materials, direct labor, and manufacturing overhead—and it summarizes the portions of those costs that remain in ending Work in Process inventory and that are transferred out of Work in Process into Finished Goods.