Cost sheet formula

opening stock of raw materials 1000000

Add:Purchase of raw material 660000
Add:purchase expenses 15000
less:closing stock of raw material -1165000
raw material consumed 510000
Direct wages (labour) 525000
Direct charges -
Prime cost 1035000

Aff:factroy over heads

factory rent 150000
Factory power 35000
indirect material
Indirect wages 27500
Supervisor salary
Drawing officer salary
Factory insurace
Factory asset depreciation
Works cost incurred 212500

Add opening WIP 280000

Subtract closing WIP -350000 1177500

Add administration over head expenses

Office rent 25000
1202500
Add opening stock of finished good 540000
subtract closing stock of finished go -310000
230000
factory cost 1432500
opening stock of raw materials 12500
Add:Purchase of raw material 136000
less:closing stock of raw material -8500
materials consumed 140000
direct wages 54000
Direct expenses 12000
Prime cost 206000
factory overheads 54000
works cost incurred 54000 260000

Works cost of factory cost

Administration overhead
add:office and administration overhead 52000 312000

Cost of production
add : opening stock of finished goods 12000
less: closing stock of finished goods -15000

cost of goods sold ' 309000

add selling and distribution costr 26000
cost of sales 335000
profit ' 67000
402000
COST AMOUNT
Materials used for manufacturing 11000000
add:materials used for primary packaging 2000000
add:freight on purchase 500000
materials consumed 13500000

Direct wages 3000000

Direct expenses 1000000

Prime Cost 17500000

Factory overhead
add:materials used in factory 150000
factory supervison expenses 400000
Indirect expense 200000
Deprecaition on factory building 350000

Works over head 1100000

Factory cost 18600000

add:administration overheads
materials used in offuce 250000
admin expenses 300000
depreciation of ofifice 150000
700000

Cost of the goods sold 19300000

Add:seeling and sitributiin overhead

materials used during sxales 300000
Depreciation on delivery van 100000
van drivers salary 360000
advertisemnt 200000
bad debts 150000

1110000

Cost of sales 20410000

Profit 5102500
Sales 25512500