File Name: cost sheet problems and solutions .zip
Direct material - Rs. Illustration 2. It can be shown in vertical form such as cost sheet Particular Opening stock of raw material Add:- Purchase Add:- Expenses incurred on purchases Raw material available Less :- closing stock of raw material Raw material consumed Add:- Direct wages or labour Add:- Direct expenses Prime cost. Details Rs 12, 7, 5, , 22, Current manufacturing cost Add:- Opening stock of work in progress Total goods processed during the period Less:- Closing sock of work in progress Factory cost or work cost.
Cost Sheet for the period ended.. Units Produced.. Name of the product Particulars. Non cost items ie. Items to be excluded from cost.
In this article we have compiled various cost accounting problems along with its relevant Solutions. After reading this article you will learn about cost accounting.
Cost Sheet is a statement, prepared at given intervals of time, which provides information regarding elements of cost incurred in production. It discloses the total cost as well as the cost per unit of the product manufactured during the given period. If it is desired to compare the costing results of a particular period with any of the preceding periods, comparative columns can be provided in the Cost Sheet.
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