Home Costing Cost Sheet formula for manufacturer

Cost Sheet formula for manufacturer

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Cost sheet formula includes prime cost, works cost, cost of production, cost of goods sold, cost of sales, etc.

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Particulars Amount Amount
Opening Stock of Raw Material ***
Add: Purchase of Raw materials ***
Add: Purchase Expenses ***
Less: Closing stock of Raw Materials ***
Raw Materials Consumed ***
Direct Wages (Labour) ***
Direct Expenses ***
Prime cost ***
Add : Factory Over Heads:
Factory Rent ***
Factory Power ***
Indirect Material ***
Indirect Wages ***
Supervisor Salary ***
Drawing Office Salary ***
Factory Insurance ***
Factory Asset Depreciation ***
Works cost Incurred ***
Add: Opening Stock of WIP ***
Less: Closing Stock of WIP ***
Works cost ***
Add: Administration Over Heads:
Office Rent ***
Asset Depreciation ***
General Charges ***
Audit Fees ***
Bank Charges ***
Counting house Salary ***
Other Office Expenses ***
Cost of Production ***
Add: Opening stock of Finished Goods ***
Less: Closing stock of Finished Goods ***
Cost of Goods Sold ***
Add: Selling and Distribution OH:
Sales man Commission ***
Sales man salary ***
Traveling Expenses ***
Advertisement ***
Delivery man expenses ***
Sales Tax ***
Bad Debts ***
Cost of Sales ***
Profit (balancing figure) ***
Sales ***

    Notes:
·             Factory Over Heads are recovered as a percentage of direct wages 
·             Administration Over Heads, Selling and Distribution Overheads are recovered as a percentage of works
         cost.

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