Manufacturer Income Statement

Question 1

What does “Big Penguin Eat” stand for?

COGS For Merchandising

Answer 1

Beginning Inventory + Purchases - Ending Inventory

Question 2

What does “Cool Bikers Eat” stand for?

COGS For Manufacturing

Answer 2

COGM + Beginning Finished Inventory - Ending Finished Goods Inventory

Question 3

What does “Daring Dogs Make Big Escapes” stand for?

Cost of Goods Manufactured Formula

Answer 3

Direct Materials Used + DL + DM +MoH +Beginning WIP Inventory -Ending WIP Inventory