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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