Cost Sheet Format.Doc

Cost Sheet Format.Doc

COST SHEET There is no prescribed format of a Cost sheet. It may change from industry to industry. A specimen format of a Cost Sheet is given as under: Particulars           write an essay based on your personal experience                                                                                                 Total (Rs. ) A. Direct Materials Consumed : Purchases ………….. Add : Opening Stock of Raw material ………….. Expenses on Purchases ………….. Less : Closing Stock of Raw Material ………….. Direct Material consumed ………….. …………. B. Direct Labour (Wages) ………….. C. Direct Expenses ………….. D. Prime Cost (A + B + C) ………….. E. Factory/Works Overheads • Indirect materials, bolts, nuts, screws, thread, nails, lubricants, etc. • Gas, steam, power, fuel, coal, haulage, lighting, lighting & heating. • Rent, rates, taxes and insurance. • Works manager’s salary • Factory workers salary • Depreciation, repairs& maintenance • Oiling and cleaning of machines. • Technical director’s fees or remuneration. Experimental and research expenses. • Cost of training the new employees. • Laboratory expenses. • Supervision, inspection and testing fees. • Cost of rectifying defective output. • Water treatment plant expenses. Add : Opening Stock of Work-in-Progress ………….. Less : Closing Stock of Work-in-Progress ………….. F. Works/Factory Cost (D + E) ………….. G. Add-Office and administration overheads ………….. • Printing and stationery used in the office. • Office salaries. • Office rent, rates and insurance. Office lighting, heating and cleaning. • Depreciation and repairs of office building. • Legal, bank, audit, postage and telephone charges. • Trade subscription / trade magazines. • General expenses. H. Total Cost of Production (F + G) ………….. Add : Opening Stock of finished Goods ………….. Less : Closing Stock of finished Goods ………….. I. Cost of production of goods Sold or cost of good sold ………….. J. Add- Selling and Distribution Overheads ………….. • Salaries and commission to sales personnel. Advertisement and publicity. • Showroom expenses. • Exhibition expenses. • Bad debt • Collection charges • Traveling • Rent, rates, warehouse insurance • Depreciation of delivery vans. • Wages of dispatch clerks. • Freight and insurance charges. • Discount, commission and brokerage, • Sample expenses. • Expenses of catalogues and price lists • Insurance and taxes of finished goods. • Warehouse wages. • Carriage outward. K. Total Cost (I + J) = Cost of Sales ………….. L. Profit ………….. M. Sales (K + L) ………….