Prime Cost = Direct Materials Cost + Direct Labor Cost

Total Factory Cost  or Manufacturing Cost = Direct Materials + Direct Labor Cost + Factory Overhead

Conversion Cost = Direct Labor Cost + Factory Overhead Cost

Cost of Goods Manufactured (COGM) = Total Factory Cost + Opening Work in Process Inventory – Ending Work in Process Inventory
Or
Cost of Goods manufactured = Direct materials cost + Direct labor cost + Factory overhead cost + Opening work in process inventory – Ending work in process inventory