# COGM Card

### **Module Guide: COGM Card (Cost of Goods Manufactured Card)**

#### **Module Location**

#### Inventory > Item/Service > COGM Card

#### **Module Objective**

#### The **COGM Card** module is a **cost accounting** tool used to calculate and set the **Cost of Goods Manufactured (COGM)** for each finished good. In this module, all cost components—from raw materials and labor to factory overhead—are gathered to determine a product's standard cost.

### **1. Main View (COGM Card List)**

#### The main page of this module displays a list of all the COGM Card calculation documents that have been previously created.

#### **View Explanation**

- #### **View**: This page is a history of processed COGM documents. You can see the document's **Group Code**, **Date**, and **Approval Status**.
- #### **Filters**: You can search for a COGM document by a **Date** period or **Item/Service Category** (e.g., FINISHED GOODS).

#### **Button Functions**

- #### **\[New\]**: The primary button to start a new COGM calculation process.

### **2. Steps to Create/Import a COGM Card**

#### **Step 1: Create a New Document**

#### From the Main View, click the **\[New\]** button to open the **COGM Card Input** form.

#### **Step 2: Fill in Header Information**

#### Define the **Period** for the COGM calculation you are about to perform.

#### **Step 3: Input Cost Data**

#### You have two ways to enter the cost details per product:

**a) Import from Excel (Fast and Recommended):**

1. #### Click the **Download Excel Format** link to download the template.
2. #### Fill the Excel file with the details of the **Item/Service Code** along with all its cost components.
3. #### Upload the filled file back via the **Choose File** button.
4. #### Click the **\[Import\]** button to load the data into the table.

**b) Manual Input:**

1. #### Click the **\[+\]** icon in the **Item/Service List** table.
2. #### Select the **Item/Service Code**.
3. #### Manually fill in all relevant cost component columns, such as:
    
    
    - #### **Material Usage**: Raw Material (RM) and Packaging Material (PM) costs.
    - #### **DVL**: Direct Labor Cost.
    - #### **FOH**: All Factory Overhead costs like Electricity, Gas, Depreciation, etc.

#### **Step 4: Confirm the Calculation**

#### After all data is filled in and validated, click the **\[Confirm\]** button. This action will update the **COGM** or **Standard Cost** value for these items in the system, which will then be used for inventory valuation and the calculation of Cost of Goods Sold.

### **Tips & Important Notes**

- #### This is a very important and specific tool for a **Cost Accountant**.
- #### The accuracy of the COGM calculated here will have a direct impact on the **inventory value on the Balance Sheet** and the **Cost of Goods Sold on the Income Statement**.
- #### The import from Excel feature is very helpful for speeding up the process, especially if the COGM for dozens or hundreds of products needs to be updated periodically.