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Cost Sheet

Dinesh (Student) (201 Points)

18 March 2008

Can any one upload a proforma of the Cost Sheet.

I am having a doubt whether the administration overheads should come before or after the adjustments for the opening and closing stock of finished goods.

Please clarify and thanks in advance

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24 Replies

pRaSoOn (Articled assistant) (500 Points)
Replied 18 March 2008

Dinesh...i have uploaded a file relating to cost-sheet format. You can download it from there. I hope it wil help you. Waise i will paste it here too:-

Particulars	Amount	Amount
Opening Stock of Raw Material Add: Purchase of Raw materials Add: Purchase Expenses Less: Closing stock of Raw Materials Raw Materials Consumed Direct Wages (Labour) Direct Charges	* * * * * * ***
Prime cost (1)		***
Add :- Factory Over Heads: Factory Rent Factory Power Indirect Material Indirect Wages Supervisor Salary Drawing Office Salary Factory Insurance Factory Asset Depreciation	* * * * * * * *
Works cost Incurred		***
Add: Opening Stock of WIP Less: Closing Stock of WIP	* *
Works cost (2)		***
Add:- Administration Over Heads:- Office Rent Asset Depreciation General Charges Audit Fees Bank Charges Counting house Salary Other Office Expenses	* * * * * * ***
Cost of Production (3)		***
Add: Opening stock of Finished Goods Less: Closing stock of Finished Goods	* *
Cost of Goods Sold		***
Add:- Selling and Distribution OH:- Sales man Commission Sales man salary Traveling Expenses Advertisement Delivery man expenses Sales Tax Bad Debts	* * * * * * ***
Cost of Sales (5)		***
Profit (balancing figure)		***
Sales		***

Notes:-

1) Factory Over Heads are recovered as a percentage of direct wages

2) Administration Over Heads, Selling and Distribution Overheads are recovered as a percentage of works cost.

3 Like

Dinesh (Student) (201 Points)
Replied 18 March 2008

What is the difference between the cost of goods sold and cost of sales

1 Like

pRaSoOn (Articled assistant) (500 Points)
Replied 18 March 2008

Cost of goods sold depicts the cost of goods still in the company which are completely ready for despatch. It includes all internal costs incurred in the company to make the good ready.

Cost of sales depicts the final cost of the product. It also includes the expenses incurred on the product to shift it from company in the general market and to client's place therefrom.

I hope your query would have been solved. Puri costing ki classes yahi kar lega kya yaar....ha ha

1 Like

G.E.Sudarsan (Students) (20 Points)
Replied 09 April 2008

If a private limited company must have minimum paid up capital of Rs.2,00,000/- is it correct?

(Guest)

i want cost sheet format in excel

Umesh Dumaniya (student) (29 Points)
Replied 26 July 2008

Originally posted by :Guest
"	i want cost sheet format in excel	"

(Guest)

hey can u give me format of transfer pricing audit cost plus method

(Guest)

Originally posted by :Guest

Originally posted by :Guest

"
i want cost sheet format in excel
"
somin dumaniya

server base soft som

(Guest)

Can any body guide me on ---- treatment of "donation in cash or kind " in the cost sheet.? like a pharma manufacturing company donates free samples to hospitals amd clinics to boost its sales. Now can we include this as --- Selling and Distribution Expense. And id this company gives cash donation then -- should we adjust this amount under Office expenses. Please guide on this aspect.