Manufacturing Statement

Written by Fmi.Online Friday January 6, 2023
A manufacturing statement, also called the schedule of cost of goods manufactured or the schedule of manufacturing activities, is a summary of all of the manufacturing activities and costs. The manufacturing statement is usually split up into four different parts: direct materials, direct labor, overhead, and total manufacturing costs or cost of goods manufactured.    

Explanation :

Manufacturers perform many activities and incur many different costs during the manufacturing process. Each activity and cost must be recorded and compared to the manufacturing budget in order to chart the company’s goals. Most manufacturers use a manufacturing statement to help keep track of the manufacturing activities and expenses.    

In a nutshell :

A manufacturing statement, also called the schedule of cost of goods manufactured or the schedule of manufacturing activities, is a summary of all of the manufacturing activities and costs.
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