Question

In a schedule of cost of goods manufactured, which cost is typically not included?

a. In-process
b. Factory overhead applied
c. Cost of goods sold
d. Direct materials used

Answer 1

The cost typically not included in a schedule of cost of goods manufactured is Cost of goods sold.

Step-by-step explanation:

In a schedule of cost of goods manufactured, the cost that is typically not included is Cost of goods sold (c).

A schedule of cost of goods manufactured is a financial statement that shows the total production costs incurred during a period to produce goods. It includes costs such as direct materials used, direct labor, and factory overhead applied.

The cost of goods sold is the cost of the goods that were sold during a period. It represents the direct costs associated with the production of the goods that are no longer in inventory.