Description
Cost Sheet Format
Cost classification
BEHAVIOR | 1.FixedCost 2.Variable Cost TIME FOR MANAGEMENT | | 1.Historical Cost 1.Marginal Cost 2.Pre/determined 2.Opportunity cost cost 3.Replacement cost 3.Semi fixed or a)Standard cost 4. Sunk cost semi variable cost b)Estimated cost ELEMENTS | 1.Material Cost 2.Labour Cost 3.Expenses 4.Overheads
Cost Sheet Format
Elements of Cost 1.Direct Material Cost Op Materials + Purchases + Carriage In - Closing Materials Direct Material Consumed 2. Direct labour Cost 3. Direct Expenses Prime cost 4. Works overheads/ Factory Overheads/Manufacturing Overheads( Indirect Material, Indirect labour, Manufacturing Expenses) Gross Works cost + Opening Work in Process - Closing Work in Process Less Scrap Sold Net Works Cost Administration Overheads Cost of Production + Opening Stock of Finished goods - Closing Stock of Finished Goods Cost of Goods Sold Selling Overheads Distribution Overheads Total Cost Calculations Total Cost Cost Per Unit
COST ACCOUNTING TERMS ? ? ? ? ? Cost Unit/ Cost Object Direct/ Indirect Cost Fixed & Variable Cost Cost Centre Cost Estimation
doc_540736317.doc
Cost Sheet Format
Cost classification
BEHAVIOR | 1.FixedCost 2.Variable Cost TIME FOR MANAGEMENT | | 1.Historical Cost 1.Marginal Cost 2.Pre/determined 2.Opportunity cost cost 3.Replacement cost 3.Semi fixed or a)Standard cost 4. Sunk cost semi variable cost b)Estimated cost ELEMENTS | 1.Material Cost 2.Labour Cost 3.Expenses 4.Overheads
Cost Sheet Format
Elements of Cost 1.Direct Material Cost Op Materials + Purchases + Carriage In - Closing Materials Direct Material Consumed 2. Direct labour Cost 3. Direct Expenses Prime cost 4. Works overheads/ Factory Overheads/Manufacturing Overheads( Indirect Material, Indirect labour, Manufacturing Expenses) Gross Works cost + Opening Work in Process - Closing Work in Process Less Scrap Sold Net Works Cost Administration Overheads Cost of Production + Opening Stock of Finished goods - Closing Stock of Finished Goods Cost of Goods Sold Selling Overheads Distribution Overheads Total Cost Calculations Total Cost Cost Per Unit
COST ACCOUNTING TERMS ? ? ? ? ? Cost Unit/ Cost Object Direct/ Indirect Cost Fixed & Variable Cost Cost Centre Cost Estimation
doc_540736317.doc