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    Costsheet (Subham)

    Uploaded by

    amijit93
    The document provides a cost sheet for ABC Company for the year ending March 31, 2018. It details the opening and closing stocks of raw materials, work in progress, and finished goods. It also lists purchases, direct wages, direct expenses, factory overhead, office overhead, selling and distribution overhead, cost of sales, and profit to calculate total sales. Prime cost is Rs. 9,00,000. Gross cost of production is Rs. 11,80,000. Cost of sales is Rs. 12,70,000. Total sales are Rs. 15,24,000.

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    Costsheet (Subham)

    Uploaded by

    amijit93
    7 views3 pages
    The document provides a cost sheet for ABC Company for the year ending March 31, 2018. It details the opening and closing stocks of raw materials, work in progress, and finished goods. It also lists purchases, direct wages, direct expenses, factory overhead, office overhead, selling and distribution overhead, cost of sales, and profit to calculate total sales. Prime cost is Rs. 9,00,000. Gross cost of production is Rs. 11,80,000. Cost of sales is Rs. 12,70,000. Total sales are Rs. 15,24,000.

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    costsheet (subham)

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    The document provides a cost sheet for ABC Company for the year ending March 31, 2018. It details the opening and closing stocks of raw materials, work in progress, and finished goods. It also lists purchases, direct wages, direct expenses, factory overhead, office overhead, selling and distribution overhead, cost of sales, and profit to calculate total sales. Prime cost is Rs. 9,00,000. Gross cost of production is Rs. 11,80,000. Cost of sales is Rs. 12,70,000. Total sales are Rs. 15,24,000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    7 views3 pages

    Costsheet (Subham)

    Uploaded by

    amijit93
    The document provides a cost sheet for ABC Company for the year ending March 31, 2018. It details the opening and closing stocks of raw materials, work in progress, and finished goods. It also lists purchases, direct wages, direct expenses, factory overhead, office overhead, selling and distribution overhead, cost of sales, and profit to calculate total sales. Prime cost is Rs. 9,00,000. Gross cost of production is Rs. 11,80,000. Cost of sales is Rs. 12,70,000. Total sales are Rs. 15,24,000.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 3

    Problem-1: Prepare Cost Sheet of ABC Company

    Limited for the year-ended 31.03.2018 .


    Opening Stock
    Raw Material 430000.00
    Work In Progress 20000.00
    Finish Goods 30000.00
    Purchase of Raw Materials 500000.00
    Direct Wages 300000.00
    Direct Expenses 100000.00
    Factory Overhead 60% on direct wages
    Office Overhead 90000.00
    Selling & Distribution Overhead 80000.00
    Profit 20% on cost
    Closing Stock
    Raw Material 430000.00
    Work In Progress 10000.00
    Finished Goods 20000.00
    ABC COMPANY LIMITED
    For the year ended 31.03.2018
    COST SHEET
    PARTICULARS AMOUNT AMOUNT(RS)
    Raw Materials Consumed:-
    Opening Stock Of Raw Materials 430000
    ADD- Purchase Of Raw Materials 500000
    930000
    Less- Closing Stock Of Raw materials 430000 500000
    Direct Wages 300000
    Direct Expenses 100000
    PRIME COST 900000
    Add- Factory Overhead
    60% of Direct Wages 180000
    GROSS WORKS COST 1080000
    Add-Opening Stock of Work-in-
    progress 20000
    1100000
    Less- Closing Stock of Works in
    Progress 10000
    NET WORKS COST 1090000
    Add- Office and administration
    Overhead 90000
    GROSS COST OF PRODUCTION 1180000
    Add-Opening stock of finished
    goods 30000
    1210000
    Less-Closing stock of finished goods 20000
    NET COST OF PRODUCTION 1190000
    Add-Selling & Distribution Overhead 80000
    COST OF SALES 1270000
    Add- Profit 254000
    SALES 1524000
    ABC COMPANY LIMITED
    For the year ended 31.03.2018
    COST SHEET
    PARTICULARS AMOUNT AMOUNT(RS)
    Raw Materials Consumed:-
    Opening Stock Of Raw Materials 430000
    ADD- Purchase Of Raw Materials 500000
    =D6+D7
    Less- Closing Stock Of Raw materials 430000 =D8-D9
    Direct Wages 300000
    Direct Expenses 100000
    PRIME COST =SUM(E9:E11)
    Add- Factory Overhead
    60% of Direct Wages =E10*60%
    GROSS WORKS COST =SUM(E12:E14)
    Add-Opening Stock of Work-in-progress 20000
    =SUM(E15:E16)
    Less- Closing Stock of Works in Progress 10000
    NET WORKS COST =E17-E18
    Add- Office and administration Overhead 90000
    GROSS COST OF PRODUCTION =SUM(E19:E20)
    Add-Opening stock of finished goods 30000
    =SUM(E21:E22)
    Less-Closing stock of finished goods 20000
    NET COST OF PRODUCTION =E23-E24
    Add-Selling & Distribution Overhead 80000
    =
    COST OF SALES SUM(E25:E26)
    Add- Profit =E27*20%
    SALES =SUM(E27:E28)

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