calculation of production cost
This query is : Resolved
17 March 2010
how to calculate production cost i have data
Raw material- op stock, consumption, purchase,cl stock.
finished goods-op stock , sales,cl stock
Raw material- op stock, consumption, purchase,cl stock.
finished goods-op stock , sales,cl stock
17 March 2010
Production Cost would be as under:
Summation of the following:
1) RM consumed
2) Direct Labour
3) Indirect Labour connected with Production process i.e. managers and seniors who don't work on the shop floor
4) Direct Expenses like Power, Gas etc
5) Indirect Expenses connected with Production process
Divide this in the ratio of the Production sold during the period. i.e. Adjust for inventory. or add: Closing Stock and reduce the closing stock from the above.
Summation of the following:
1) RM consumed
2) Direct Labour
3) Indirect Labour connected with Production process i.e. managers and seniors who don't work on the shop floor
4) Direct Expenses like Power, Gas etc
5) Indirect Expenses connected with Production process
Divide this in the ratio of the Production sold during the period. i.e. Adjust for inventory. or add: Closing Stock and reduce the closing stock from the above.
17 March 2010
Consumption =Opening stock of Raw materials + Purchase of raw materials - Closing stock of Raw materials with this add Labour & OHS cost
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- GST Rate for Catering Services
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ITR 4 and Bank transactions
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Journal entry of busniess expenses
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
