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Monthly Cost Sheet and Profit Analysis

The document outlines a cost sheet format for calculating total production costs, including direct raw materials, wages, overheads, and administrative expenses. It details the process of determining costs of goods sold and includes sections for opening and closing stocks, as well as selling and distribution overheads. The cost sheet can be prepared for various time periods, and it allows for the calculation of profit if sales prices are known.

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shahakash9640
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14 views3 pages

Monthly Cost Sheet and Profit Analysis

The document outlines a cost sheet format for calculating total production costs, including direct raw materials, wages, overheads, and administrative expenses. It details the process of determining costs of goods sold and includes sections for opening and closing stocks, as well as selling and distribution overheads. The cost sheet can be prepared for various time periods, and it allows for the calculation of profit if sales prices are known.

Uploaded by

shahakash9640
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Cost Sheet

Units produced........

Particulars Total cost Cost per unit


Rs. Rs.
Opening Stock of Direct Raw Materials XXXXX
Add : Purchases ... ... XXXX
Add : Carriage Inward ... ... XXX
Add : Octroi, Customs Duty and other expenses on purchases ... . XXX

XXXXXX
Less : Closing Stock of Direct Raw Materials XXXXX

Cost of Direct Materials XXXXXX


Consumed XXXXX
XXXXX
Direct or Productive Wages ... ...
XXXXX
Direct (or Chargeable) Expenses
Prime Cost

Add : Works or Factory Overheads


Xxxxx
Indirect Materials Xxxxx
Indirect Wages Xxxxx
Leave Wages Xxxxx
Overtime Premium Xxxxx
Fuel and Power Xxxxx
Coal Xxxxx
Factory Rent and Taxes Xxxxx
Insurance Xxxxx
Factory Lighting Xxxxx
Supervision Xxxxx
Works Stationery Xxxxx
Canteen and Welfare Expenses Xxxxx
Repairs Xxxxx
Haulage (the commercial transport of goods) Xxxxx
Works Salaries Xxxxx
Depreciation of Plant & Machinery Xxxxx
Works Expenses Xxxxx
Gas and Water Xxxxx
Technical Fees xxxxx
Laboratory Expenses xxxxx
Works Telephone Expenses
Internal Transport Expenses XXXXX

xxxxxx
Less : Sale of Scrap XXXXXX
xxxxxx

Add : Opening Stock of Work-in-progress


xxxxxx
Less : Closing Stock of Work-in-progress ...
XXXXXX

Works Cost

Add : Office and Administrative Overheads Xxxxx


Xxxxx
Office Salaries
Xxxxx
Director’s Fees
Xxxxx
Office Rent and Rates
Office Stationery and Printing Xxxxx
Sundry Office Expenses Xxxxx
Depreciation and Repairs of Office Equipment Xxxxx
Depreciation of Office Furniture Xxxxx
Subscript ion to Trade Journals Xxxxx
Office Lighting Xxxxx
Establishment Charges Xxxxx
Director’s Travelling Expenses Xxxxx
Postage Xxxxx
Legal Charges Xxxxx
Audit Fees _______ XXXXX

Cost of Production
XXXXX
Add : Opening Stock of Finished Goods Xxxxxx

Less : Closing Stock of Finished Goods Xxxxxx


_________
Cost of Goods Sold
XXXXXX
Add : Selling and Distribution Overheads

Advertising Xxxxx
Showroom Expenses xxxxx
Bad Debts
Xxxxx
Salesmen’s Salaries and Expenses
xxxxx
Packing Expenses
xxxxx
Carriage Outward
Commission of Sales Agents xxxxx
Counting House Salaries xxxxx
Cost of Catalogues xxxxx
Expenses of Delivery Vans xxxxx
Collect ion Charges xxxxx
Travelling Expenses xxxxx
Cost of Tenders xxxxx
Warehouse Expenses xxxxx
Cost of Mailing Literature xxxxx
Sales Manager’s Salaries xxxxx
Sales Director’s Fees xxxxx
Showroom Expenses xxxxx
Sales Office Expenses xxxxx
Depreciation and Repairs of Delivery Vans xxxxx
Expenses of Sales Branches xxxxxx XXXXX
_______ __________
XXXXX

Cost of Sales (or Total Cost) XXXX


_________
PROFIT
XXXXX
Sales

In the above format, we have assumed that the cost sheet is being prepared for a month.
However, the period of a cost sheet may vary according to the preference of the
company, i.e., it can be made for a week, a month, a quarter or a year.

We can also determine the rate of profit, with the help of a cost sheet or a cost
statement, if the sales price is known to us.

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