Question

List the four components of a schedule of cost of goods manufactured and provide specific examples of each for Apple.

Short answer

Direct material, direct labor, factory overhead, and work-in-process.

Step-by-step solution

Meaning of Schedule of Cost of Goods Manufactured

Thetotal costs incurred during the manufacturing process are shown in a cost schedule for goods manufactured. The beginning work in process is added to the cost of goods manufactured incurred throughout the period. The cost of goods manufactured is then subtracted from the end work in process to calculate the cost of goods manufactured.

Listing the four components of a schedule of cost of goods manufactured and provide specific examples of each for Apple

Components of Schedule of COGM	Apple examples
Direct material	Processors, chips,covers.
Direct labor	Wages of production employees
Factory overhead	Factory heat, factory, lighting.
Work in process	Materials, labor, and overhead cost.