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COST SHEET

There is no prescribed format of a Cost sheet. It may change from industry to industry. A specimen format of a Cost Sheet is given as under:  
Particulars                                                                                                           Total (Rs.)  
A. Direct Materials Consumed :
Purchases ..............
Add : Opening Stock of Raw material ..............
Expenses on Purchases ..............
Less : Closing Stock of Raw Material ..............
Direct Material consumed .............. ..............

B. Direct Labour (Wages) ..............

C. Direct Expenses ..............

 
D. Prime Cost (A + B + C) ..............
 
E. Factory/Works Overheads
• Indirect materials, bolts, nuts, screws, thread, nails, lubricants, etc. • Gas, steam, power, fuel, coal, haulage, lighting, lighting & heating. • Rent, rates, taxes and insurance.
• Works manager’s salary
• Factory workers salary
• Depreciation, repairs& maintenance
• Oiling and cleaning of machines.
• Technical director’s fees or remuneration.
• Experimental and research expenses.
• Cost of training the new employees.
• Laboratory expenses.
• Supervision, inspection and testing fees.
• Cost of rectifying defective output.
• Water treatment plant expenses.
Add : Opening Stock of Work-in-Progress ..............
Less : Closing Stock of Work-in-Progress ..............
 
F. Works/Factory Cost (D + E) ..............
 
G. Add-Office and administration overheads ..............
 
• Printing and stationery used in the office.
• Office salaries.
• Office rent, rates and insurance.
• Office lighting, heating and cleaning.
• Depreciation and repairs of office building.
• Legal, bank, audit, postage and telephone charges.
• Trade subscription / trade magazines.
• General expenses.
 
 
H. Total Cost of Production (F + G) ..............
 
Add : Opening Stock...
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