prasanth (Student) (25 Points)
12 January 2014what is the difference between cost of goods manufactured and cost of production in costing? are they one and the same?? please give me a detailed view??? thanks in advance
P V Ram
(Offering Coaching for CA CMA aspirers)
(1694 Points)
Replied 12 January 2014
For Cost of Production overheads upto factory level are only considered. This is also called Factory Cost or Works Cost.
In case of Cost of Goods Manufactured, even Administrative Overheads are considered and added to Cost of Production.
Thanks!
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