The cost of goods manufactured list is an additional document which manufacturing companies are required to prepare.

You can use the Financial Information System to create a profit and loss statement according to Korean GAAP. A sample report can be found in the report tree FIGL_INFO.

Cost of Goods Manufactured List

1. Raw Material Cost.......................... (1.1 + 1.2 - 1.3)
2. Beginning Inventory of Raw Materials
3. Raw Materials Purchase
4. Ending Inventory of Raw Materials
5. Labor Cost
6. Overhead
7. Total Manufacturing Cost...... (1 + 2 + 3)
8. Beginning Inventory of WIP
9. Total.......................... (4 + 5)
10. Ending Inventory of WIP
11. Cost of Goods Manufactured (6 - 7)

The line items labor cost and overhead only reflect the costs related to the functional area production (0003).