Cost of Goods Manufactured (COGM) Calculator

Direct Materials (DM):
Direct Labor (DL):
Factory Overhead (FO):
Beginning Work in Progress (BWIP):
Ending Work in Progress (EWIP):

Cost of Goods Manufactured Calculator

The Cost of Goods Manufactured (COGM) Calculator is a tool used in managerial accounting to calculate the total cost incurred in the production of goods during a specific period. It includes the direct materials, direct labor, and manufacturing overhead costs associated with manufacturing the products.


The formula for calculating COGM is as follows:

COGM = Opening Work-in-Progress Inventory + Total Manufacturing Costs – Closing Work-in-Progress Inventory

In simpler terms, COGM is the sum of the costs of materials, labor, and overhead used to produce the goods, adjusted for the change in work-in-progress inventory.


If the opening work-in-progress inventory is $10,000, the total manufacturing costs are $50,000, and the closing work-in-progress inventory is $8,000, the COGM would be $10,000 + $50,000 – $8,000 = $52,000. This means that $52,000 worth of goods was manufactured during the period.

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