Simple Specimen of Cost Sheet

Statement of Cost Sheet

For the period ……………
Particular Amount
Direct material cost------------------------------------------------------------------------------------------------------ xxx
Direct labour cost-------------------------------------------------------------------------------------------------------- xxx
Direct expenses or chargeable expenses--------------------------------------------------------------------------- xxx
Prime cost---------------------------------------------------------------------------------------------------------- xxx
Add: Factory Overhead------------------------------------------------------------------------------------------------- xxx
Factory Cost/Work Cost/Manufacturing Cost------------------------------------------------------------- xxx
Add: Office and administrative overhead-------------------------------------------------------------------------- xxx
Cost of Production (COP)--------------------------------------------------------------------------------------- xxx
Add: Selling and distribution overhead----------------------------------------------------------------------------- xxx
Total cost /Cost of sales------------------------------------------------------------------------------------------ xxx
Add: Profit----------------------------------------------------------------------------------------------------------------- xxx
Sales Revenue------------------------------------------------------------------------------------------------------ xxx

Tender or Quotation sheet

Tender or quotation price is estimated price for future period. For determination
of tender or quotation price generally the following two bases are used.
On the basis of output units
On the basis of Percentages of Overhead

1. % of factory overhead on Direct wages/ Productive wages/direct labour

= Factory overhead X 100 = …%
Direct wages
2. % of factory overhead on prime cost = Factory overhead X 100 = …%
Prime cost
3. % of office overhead on factory cost = Office overhead X 100 = …%
Factory cost
4. % of selling overhead on factory cost = Selling overhead X 100 = …%
Factory cost
5. Raw material per unit = Raw material used
Production unit
6. % of net profit on cost = Net profit X 100 = …%
Total cost
7. % of net profit on sales = Net profit X 100 = …%
Sales
Details Specimen of Cost Sheet
Statement of Cost Sheet
For the period ……………

Particulars Details Amounts Rs.

Opening stock of raw material-------------------------------------------------------- xxx
Add: Purchase of raw materials------------------------------------------------------------- xxx
Carriage, carriage inwards, carriage on purchase---------------------------------- xxx
Customs duty, octroi charge, import duty, freight on purchase------------------ xxx
Shipping charge, primary packing charge…………………………………… xxx
Less: Closing stock of raw material--------------------------------------------------------- (xxx)
Purchase return/Return outward------------------------------------------------------ (xxx)
Raw material scrap--------------------------------------------------------------------- (xxx) xxx
A Cost of raw material used/ value of raw material used-----------------------
Add: Direct wages, direct labour, productive wages, factory labour------------------ xxx xxx
Direct or Chargeable expenses------------------------------------------------------ xxx xxx
B Prime cost-------------------------------------------------------------------------------
Add: Factory overhead/work on cost
Indirect material, indirect wages, indirect labour, unproductive wage---------- xxx
Factory rent, rates and taxes, Factory insurance, Factory heating and lighting, xxx
Factory repairs and maintenance, power, fuel, coal, gas and water, xxx
depreciation on plant and machinery, depreciation on factory building, xxx
cleaning charges of factory, royalties on production, Drawing office salaries, xxx
Haulage charge, experimental charge, postage and telephone, estimation xxx
expenses xxx
work general overhead, lubricants, consumable stores, work manager salary, xxx xxx
Welfare expenses of labour, Other factory/work/manufacturing overhead----- xxx xxx
Less: sale of scrap or by-product----------------------------------------------------------- (xxx) xxx
C Manufacturing cost/ Factory cost/Work cost incurred----------------------- (xxx)
Add: Opening stock of Work-in-progress (WIP)----------------------------------------- xxx
Less: Closing stock of Work-in-progress (WIP)------------------------------------------
D Manufacturing cost/ Factory cost/Work cost-----------------------------------
Add: Office and administrative overhead/ office on cost
xxx
Office rent and rates, insurance, printing and stationery, legal charge, Bank
xxx
Charges, general expenses, Telephone and telegram charges, Office salaries
xxx
Depreciation on furniture and office equipment and maintenance of office
xxx
Equipment, counting house salaries, Audit fees, Establishment expenses, xxx
xxx
General manager remuneration, Salaries to managing directors and office xxx
xxx
Staff, insurance of office building, sundry expenses, miscellaneous expenses xxx
xxx
Travelling expenses for office------------------------------------------------------- (xxx)
E Cost of Production (COP)----------------------------------------------------------- xxx
Add: Opening stock of Finished
goods-----------------------------------------------------
Less : Closing stock of Finished goods-----------------------------------------------------
F Cost of goods sold (COGS)----------------------------------------------------------- xxx
Add: Selling and distribution overhead xxx
Advertisement, Publicity expenses, Rent of showroom, warehouse ------------ xxx
Lighting, Heating and cleaning charge of showroom and warehouse-------------- xxx
Rent of delivery van, Depreciation of delivery van, showroom and warehouse-- xxx xxx
Sales man's salary, Sales manager remuneration, Travelling expenses------------- xxx xxx
Sales promotion charge, Exhibition charge, carriage on sales, Carriage outward, xxx xxx
Sales men's commission, Rent of sales department, Sales tax, sales of printing xxx
And stationery, Samples and other free gift, Bad debts and market research exp. XXX
G Cost of Sales/ Total cost-----------------------------------------------------------------
H Add/Less: Net profit/ Loss--------------------------------------------------------------
Sales Revenue ----------------------------------------------------------------------------

Determination of Profit
If sales is given, Profit = Net sales – Total cost or Cost of sales

If amount of sales is not given

a) If --------- percentage of profit on cost is given

Net profit = Total cost X % of profit on cost
b) If --------- percentage of profit on sales or selling price is given
Net profit = Total cost/ Cost of sales X % of profit X 100
100 - % of profit
 Tender or Quotation sheet
Tender or quotation price is estimated price for future period. For determination
of tender or quotation price generally the following two bases are used.
On the basis of output units
On the basis of Percentages of Overhead

1. % of factory overhead on Direct wages/ Productive wages/direct labour

= Factory overhead X 100 = …%
Direct wages
2. % of factory overhead on prime cost = Factory overhead X 100 = …%
Prime cost
3. % of office overhead on factory cost = Office overhead X 100 = …%
Factory cost
4. % of selling overhead on factory cost = Selling overhead X 100 = …%
Factory cost
5. Raw material per unit = Raw material used
Production unit
6. % of net profit on cost = Net profit X 100 = …%
Total cost
7. % of net profit on sales = Net profit X 100 = …%
Sales