P.L.SUBRAHMANYAM | 9642733211

STATEMENT OF COST SHEET

PARTICULARS AMOUNT AMOUNT

Direct Material 1

Direct Labour 2

Direct Expenses 3

XXX XXX XXX

Prime Cost XXX

XXX Add

Factory or Works on Cost

Add

Opening Stock of Work-in-Progress

XXX

XXX

XXX

(XXX) Less Closing Stock of Work-in-Progress

Factory or Works on Cost 4

XXX

XXX Add Office & Administrative Over Head 5

Cost of Production XXX

XXX Add Opening Stock of Finished goods

Less

Closing Stock of Finished goods

XXX

(XXX)

Cost of Goods Sold XXX

XXX Add Selling & Distribution Expenses 6

Total Cost XXX

XXX Add Profit

Selling Price XXX

P.L.SUBRAHMANYAM | 9642733211

1 Direct Material: PARTICULARS AMOUNT AMOUNT

Opening Stock of Raw Material XXX

Add Purchases of Raw Material Carriage Inwards Octroi & Customs Duty

XXX XXX XXX

XXX

(XXX)

Less Closing Stock of Raw Material Cost of Material Stock Defective Material returned By-Products Abnormal Wastages of Material Material Scrap sold

(XXX) (XXX) (XXX) (XXX) (XXX) (XXX)

Direct Material / Material Consumed / Material Used / Convertible Material

XXX

2 Direct Labour:

It is also known as direct wages or productive wages or productive labour.

PARTICULARS AMOUNT

Direct Wages XXX (XXX) XXX

Less Abnormal wastage of time or Abnormal idle time

Direct Labour

3 Direct Labour:

Direct expenses comprising of Excise Duty, Royalty, Architect or Supervisor’s Fee, Cost of rectifying

defective work, Travelling expenses to the site, Experimental expenses, Expenses of Designing or

Drawing, Repair and Hire of Equipment obtained on contract, etc…

4 Factory or Works on Cost:

These include Indirect wages, Factory rent and rates, Depreciation & Repairs on machinery, Fuel &

Power, Gas & Water, Heating & Lighting, Foremen’s Wages, Workers Bonus, Factory Insurance,

Loose tools, Technical Director’s Fee, Canteen expenses, Laboratory expenses, Municipal taxes,

Internal transport, Stores overhead, Oil & Cleaning, Training to the new employees, etc…

5 Offices & Administrative Overhead:

These includes Director’s fee, Director’s travelling expenses, Salaries of staff, Printing and

Stationery, Postage & Telegrams, Office rent, Rates, Taxes, Lighting, Bank charges and

Commissions, General expenses, Establishment expenses, Subscription of Trades and Journal,

etc…

6 Selling & Distribution Expenses:

These include Advertising, Bad debts, Commission on sales, Collection expenses, Salesmen’s

salaries, Distribution expenses, Carriage outwards, Trade discounts, Cash discounts allowed,

Godown or Warehouse expenses, Expenses of Sales office, Depreciation on delivery vehicle,

Packing expenses, Expenses for the recovery of bad debts, Upkeep of delivery vehicles, etc…