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Comprehensive Cost Sheet

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Published in: B.Com Tuition | Cost Accounting and Financial Management | Costing
3,221 Views

"Comprehensive Cost sheet" problem. 

Mahesh S / Chennai

6 years of teaching experience

Qualification: B.Com (KU - 2009)

Teaches: CA - CPT, CA - IPCC, CS - Executive, CS Professional, Accountancy, Computer Science, Hindi, Mathematics, School Level Computer, Costing, Direct Tax, Statistics

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  1. Elementwise Classification of Cost Material Divided Cost sheet Direct Commonly known as Sub-Divided Indirect Factory OHS Factory Rent Depn Direct Labour Indirect Overheads Offic & Adm OHS Office Rent Front office Expense Stationary Items It is a detailed statement showing the total cost incurred to produce the product. It is a statement showing the total cost under proper classification in a logical order. Add:- Less:- Add:- Add:- Add:- Add:- Add:- Particulars Opening Stock Purchase Closing Stock Raw Material Consumed Direct Labour Direct Expenses Prime Cost Works OHS Factory or Work Cost Office & Adm OHS Cost of Production Selling & Distn OHS Cost of Sales Profit Selling Price P.C=DM+DL+DE W.C=P.C+FOHS Cost Sheet Total cost xxx xxx xxx (xxx) xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx Cost per unit
  2. SV=COS+Pft Comprehensive Cost Sheet (Inventories) Add:- Less:- Add:- Add:- Less:- Add:- Add:- Less:- Add:- Add:- Particulars opg Sk of RMs Pur.of RMs Carraige on Purchases Cig Sk of RMs DM Scrap Sold RM Consumed DWs DEs xxx xxx xxx xxx xxx xxx xxx Prime Cost Factory OHS opg WIP Cig WIP Works Cost or Factory Cost Office & Adm.OHS COP Opg Sk of Fin.Goods Clg Sk of Fin.Goods COP of goods sold Selling & Distn OHS COGS or Cost of Sales Pft/Loss (B/f) Sale Value xxx xxx xxx xxx xxx xxx xxx xxx (xxx) xxx xxx xxx xxx xxx (xxx) xxx xxx xxx xxx/(xxx) xxx From the following particulars, prepare a statement showing the components of the total sales and the pft for Particulars Sk of raw materials on 01.01.2015 Sk of raw materials on 31.12.2015 Direct Wages Direct Expenses Indirect Wages WIP (01.01.2015) WIP (31.12.2015) Pur.of Raw Materials Factory Rent,Rates & Power Depn on Carr.lnwards Carr.Outwards Amount 75000 95000 40000 10000 2500 25000 32000 68000 12000 3000 2000 2300 Under Final Answer pft
  3. Advertising Off.Rent & Taxes Travellers Wages & Commission Repairs to P&M Directors Fees General charges Sk of Fin.Goods (01.01.2015) Sk of Fin.Goods (31.12.2015) Sales 3200 2500 6300 1000 3000 4000 50000 30000 210000
  4. Direct Other Expenses Indirect Sel ing & Distn OHS Advertisement Delivery Charges Salesman Com. Salesman Salary
  5. 5100 4700 3100 8400 21300 29500 50800 the year ended 31.12.2015 57.200,oo

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