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  • Acfrogar18mv0ik1kfppoix3tbgpauhgiglphibe5kryaysmuu7nkx2zv1vbuuvq7s Ana78hxvle 4 Bd3t5xp Gwpkjxpcffyajy1dzw9ikszff18yo Hrman8qd Hhkceemnjvermqweu1cn

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    akash
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    The document outlines the format of a cost sheet, including calculations for direct material consumed, prime cost, factory cost, cost of production, cost of goods sold, cost of sales, and number of units sold. It breaks down costs layer by layer from direct material and labor through factory overhead, administrative overhead, selling and distribution overhead, and finally profit, to arrive at total sales. Conversion cost is also defined as direct labor plus direct expenses plus factory overhead.

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    The document outlines the format of a cost sheet, including calculations for direct material consumed, prime cost, factory cost, cost of production, cost of goods sold, cost of sales, and number of units sold. It breaks down costs layer by layer from direct material and labor through factory overhead, administrative overhead, selling and distribution overhead, and finally profit, to arrive at total sales. Conversion cost is also defined as direct labor plus direct expenses plus factory overhead.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    13 views1 page

    Acfrogar18mv0ik1kfppoix3tbgpauhgiglphibe5kryaysmuu7nkx2zv1vbuuvq7s Ana78hxvle 4 Bd3t5xp Gwpkjxpcffyajy1dzw9ikszff18yo Hrman8qd Hhkceemnjvermqweu1cn

    Uploaded by

    akash
    The document outlines the format of a cost sheet, including calculations for direct material consumed, prime cost, factory cost, cost of production, cost of goods sold, cost of sales, and number of units sold. It breaks down costs layer by layer from direct material and labor through factory overhead, administrative overhead, selling and distribution overhead, and finally profit, to arrive at total sales. Conversion cost is also defined as direct labor plus direct expenses plus factory overhead.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Format of Cost Sheet

    Direct Material Consumed (= Opening raw material + material purchased during the year
    – closing raw material)
    +
    Direct labor
    +
    Direct Expenses
    = Prime cost
    + Indirect labor
    + Factory or manufacturing overhead
    + Opening WIP
    -- Closing WIP
    = Factory Cost or Works Cost
    + Administrative Overhead
    = Cost of Production or Cost of Goods Manufactured (COGM)
    + Opening Finished Good
    -- Closing Finished Good
    = Cost of Goods Sold (COGS)
    + Selling & Distribution Overhead
    = Cost of Sales
    + Profit
    = Sales

    Conversion Cost = Direct labor + Direct Expenses + Factory overhead

    Number unit Sold = Opening Finished Good + Number of unit produced -- Closing
    Finished Good

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