Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 14 - Managerial Accounting - Self-Test Questions - Page 778: 11

Answer

A - raw materials and work-in-process only

Work Step by Step

A COGM schedule includes three main components to calculate the cost of goods manufactured: raw materials used, total manufacturing cost, and the change in work-in-process inventory. Answer A is correct since the COGM schedule includes both raw materials and work-in-process inventories.
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