Manufacturing cost are the total cost of Direct Materials, Direct Labor, and Manufactured Overhead assigned.
Cost of goods manufactured is the calculations of the production cost for the products or completed goods. In other words, it is the manufacturing cost associated producing the product.
How do you calculate the cost of goods manufactured? Beginning Balance WIP Inventory
(+)Direct materials
(+)Direct Labor
(+)Manufactured Overhead
(-) Ending Balance WIP Inventory
Cost of Goods