calculation of production cost

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sahil (Querist)
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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

Rasesh

Rasesh (Expert)
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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.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 March 2010 Consumption =Opening stock of Raw materials + Purchase of raw materials - Closing stock of Raw materials with this add Labour & OHS cost

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