COST SHEET- ANALYISIS, CONCEPTS, CLASSIFICATIONS AND

COST SHEET- ANALYISIS, CONCEPTS, CLASSIFICATIONS AND COST SHEET : 

COST SHEET- ANALYISIS, CONCEPTS, CLASSIFICATIONS AND COST SHEET Made by: Sneha

ELEMENTS OF COST: 

ELEMENTS OF COST

COST CLASSIFICATION: 

COST CLASSIFICATION

IMPORTANT FORMULAS: 

IMPORTANT FORMULAS

TREATMENT OF STOCK: 

TREATMENT OF STOCK TREATMENT OF RAW MATERIALS Opening Stock of Raw Materials Add : Purchases of Raw Materials Less : Closing Stock of Raw Materials ---------------------------------- Cost of Raw Materials Consumed ----------------------------------

PowerPoint Presentation: 

STOCK OF WORK-IN-PROGRESS Prime Cost Add : Factory Overheads Work-in-progress (beginning) Less : Work-in-progress (closing) ---------------------------------- Factory or Manufacturing or Works Cost ----------------------------------

PowerPoint Presentation: 

STOCK OF FINISHED GOODS Cost of Production Add : Opening Stock of Finished Goods Less : Closing Stock of Finished Goods ---------------------------------- Cost of Goods Sold ----------------------------------

EXAMPLE:: 

The following available is: Cost of Raw Materials Cost of Work-in-progress Cost of stock of finished good Transactions during six months are: Purchase of raw materials 4,50,000 Wages paid 2,30,000 Factory overheads 92,000 Administration overheads 30,000 Selling and Distribution Expenses 20,000 Sales 9,00,000 Prepare Cost Sheet. Jan 1,2006 June 30,2006 Rs . Rs . 30,000 25,000 12,000 15,000 60,000 55,000 EXAMPLE:

ANSWER: 

ANSWER PARTICULARS RS. Opening Stock of Raw Materials 30,000 Add : Purchase of Raw Materials 4,50,000 ----------- 4,80,000 Less : Closing Stock of Raw Materials 25,000 ----------- Cost of Materials Consumed 4,55,000 Direct Wages 2,30,000 ----------- Prime Cost 6,85,000 Add: Factory Overheads 92,000 ----------- Factory Cost Incurred 7,77,000 STATEMENT OF COST for six months ending 30 th June, 2006

PowerPoint Presentation: 

PARTICULARS RS. Factory Cost Incurred 7,77,000 Add : Opening Work-in-Progress 12,000 --------------- 7,89,000 Less : Closing Work-in-Progress 15,000 --------------- Works Cost 7,74,000 Add : Administration Overheads 30,000 --------------- Cost of Production 8,04,000 Add: Opening stock of Finished Goods 60,000 --------------- 8,64,000 Less : Closing stock of Finished Goods 55,000 --------------- Cost of Goods Sold 8,09,000 Add : Selling & Distribution Overheads 20,000 Total Cost 8,29,000

PowerPoint Presentation: 

PARTICULARS RS. Total Cost 8,29,000 Net Profit (Balancing Fig.) 1,29,000 ------------ Sales 9,00,000

THANK YOU!!: 

THANK YOU!!