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From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units?
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From the following information prepare a cost sheet for the month Augu...
Cost Sheet for the Month of August 2017
Direct Material:
- Cost: 180,000
Direct Wages:
- Cost: 120,000
Direct Expenses:
- Cost: 60,000
Production Overhead:
- Cost: 150,000
Administration Overhead:
- Cost: 75,000
Selling and Distribution Overhead:
- Cost: 25,000
Total Cost:
- Direct Costs: 360,000
- Overhead Costs: 250,000
- Grand Total: 610,000
Unit Cost:
- Total Cost: 610,000
- Units Produced: 5,000
- Unit Cost: 122
Sales:
- Sales: 900,000
Profit:
- Sales: 900,000
- Cost: 610,000
- Profit: 290,000
Explanation:
A cost sheet is a statement that shows the various components of total cost for a product or service. In this case, we are preparing a cost sheet for the month of August 2017. The cost sheet includes direct material, direct wages, direct expenses, production overhead, administration overhead, and selling and distribution overhead.
Direct material represents the cost of raw materials used in the production process. Direct wages include the wages paid to workers who are directly involved in the production process. Direct expenses are costs that are directly associated with the production process, such as electricity, fuel, and maintenance.
Production overhead includes all indirect costs related to the production process, such as rent, depreciation, and insurance. Administration overhead includes costs associated with managing the business, such as salaries for administrative staff and office expenses. Selling and distribution overhead includes costs associated with selling and distributing the product, such as advertising and transportation costs.
The total cost is calculated by adding up the direct costs and overhead costs. The unit cost is calculated by dividing the total cost by the number of units produced. The sales figure represents the revenue generated by selling the product. Finally, the profit figure is calculated by subtracting the total cost from the sales figure.
Direct Material:
- Cost: 180,000
Direct Wages:
- Cost: 120,000
Direct Expenses:
- Cost: 60,000
Production Overhead:
- Cost: 150,000
Administration Overhead:
- Cost: 75,000
Selling and Distribution Overhead:
- Cost: 25,000
Total Cost:
- Direct Costs: 360,000
- Overhead Costs: 250,000
- Grand Total: 610,000
Unit Cost:
- Total Cost: 610,000
- Units Produced: 5,000
- Unit Cost: 122
Sales:
- Sales: 900,000
Profit:
- Sales: 900,000
- Cost: 610,000
- Profit: 290,000
Explanation:
A cost sheet is a statement that shows the various components of total cost for a product or service. In this case, we are preparing a cost sheet for the month of August 2017. The cost sheet includes direct material, direct wages, direct expenses, production overhead, administration overhead, and selling and distribution overhead.
Direct material represents the cost of raw materials used in the production process. Direct wages include the wages paid to workers who are directly involved in the production process. Direct expenses are costs that are directly associated with the production process, such as electricity, fuel, and maintenance.
Production overhead includes all indirect costs related to the production process, such as rent, depreciation, and insurance. Administration overhead includes costs associated with managing the business, such as salaries for administrative staff and office expenses. Selling and distribution overhead includes costs associated with selling and distributing the product, such as advertising and transportation costs.
The total cost is calculated by adding up the direct costs and overhead costs. The unit cost is calculated by dividing the total cost by the number of units produced. The sales figure represents the revenue generated by selling the product. Finally, the profit figure is calculated by subtracting the total cost from the sales figure.
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From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units?
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From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units?.
From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for From the following information prepare a cost sheet for the month August 2017 . Direct material. 180000 Direct wages. 120000 Direct expenses. 60000 Production overhead. 150000 Administration overhead. 75000 Selling and distribution overhead. 25000 Sales. 900000 Unit produce. 5000 units?.
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