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Cost Statement Format Overview

The document outlines the key components of a cost sheet used for cost management, including direct material consumed, direct labor, manufacturing overheads, cost of production, cost of goods manufactured, cost of goods sold, non-manufacturing overheads like administration, selling, and distribution overheads, total cost, profit, and sales price. It provides the calculations and flow of costs from direct materials to finished goods.

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surajrana
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59 views1 page

Cost Statement Format Overview

The document outlines the key components of a cost sheet used for cost management, including direct material consumed, direct labor, manufacturing overheads, cost of production, cost of goods manufactured, cost of goods sold, non-manufacturing overheads like administration, selling, and distribution overheads, total cost, profit, and sales price. It provides the calculations and flow of costs from direct materials to finished goods.

Uploaded by

surajrana
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

Management Concept
Statement of Cost : Cost Sheet

A Direct Material Consumed xxx Direct Material (Raw Material) Consumed


Add: Direct labour xxx Beg. Raw Materials xxx
Add: Manf. OH (MOH) xxx Add: Purchases (RM) xxx
Add: Transportation IN xxx
Indirect Materials xxx Less: Purchase Return & Allow. (xxx)
Indirect Labour xxx Less: End. Raw Materials (xxx)
Indirect Factory OH xxx xxx DIRECT MATERIAL CONSUMED XXX
COST OF PRODUCTION xxx
DL + MOH- CONVERSION COST
Add: Beg. Work in Progress xxx DM+DL- PRIME COST + MOH- COST OF PROD.
Less: End. Work in Progress (xxx)
COST OF GOODS MANF (COGM) XXX

Add: Beg. Finished Goods xxx


Less: End. Finished Goods (xxx)
COST OF GOODS SOLD XXX

Add: Non Manf. OH.


Admin Overheads xxx
Selling Overheads xxx
Distribution Overheads xxx xxx
TOTAL COST XXX
PROFIT XXX
SALES (SELLING PRICE IN UNIT) XXX

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