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Cost Accounting

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 Page 1


COST SHEET
COST SHEET
Page 2


COST SHEET
COST SHEET
Cost Sheet
Cost Sheet
?
Cost Sheet is a statement designed to show the 
output of a particular accounting period along 
with the breakup of costs. 
?
It provides information relating to cost per unit 
at different stages of the total cost of production. 
Page 3


COST SHEET
COST SHEET
Cost Sheet
Cost Sheet
?
Cost Sheet is a statement designed to show the 
output of a particular accounting period along 
with the breakup of costs. 
?
It provides information relating to cost per unit 
at different stages of the total cost of production. 
Importance of Cost Sheet
Importance of Cost Sheet
?
Ascertainment of cost
?
Controlling costs
?
Fixation of selling price
?
Submitting of tenders
Page 4


COST SHEET
COST SHEET
Cost Sheet
Cost Sheet
?
Cost Sheet is a statement designed to show the 
output of a particular accounting period along 
with the breakup of costs. 
?
It provides information relating to cost per unit 
at different stages of the total cost of production. 
Importance of Cost Sheet
Importance of Cost Sheet
?
Ascertainment of cost
?
Controlling costs
?
Fixation of selling price
?
Submitting of tenders
Components of Total Cost
Components of Total Cost
?
Prime Cost: The sum total of direct material, direct 
labor & direct expenses.
    Example: Calculate the Prime Cost from the following 
particulars of a carpenter for manufacturing a window:
   
Particulars
Rs. 
  Cost of wood
10,000
Cost of glass 2,000
Cost of frames 200
Wages paid 4,000
Rent of a special machine 800
Page 5


COST SHEET
COST SHEET
Cost Sheet
Cost Sheet
?
Cost Sheet is a statement designed to show the 
output of a particular accounting period along 
with the breakup of costs. 
?
It provides information relating to cost per unit 
at different stages of the total cost of production. 
Importance of Cost Sheet
Importance of Cost Sheet
?
Ascertainment of cost
?
Controlling costs
?
Fixation of selling price
?
Submitting of tenders
Components of Total Cost
Components of Total Cost
?
Prime Cost: The sum total of direct material, direct 
labor & direct expenses.
    Example: Calculate the Prime Cost from the following 
particulars of a carpenter for manufacturing a window:
   
Particulars
Rs. 
  Cost of wood
10,000
Cost of glass 2,000
Cost of frames 200
Wages paid 4,000
Rent of a special machine 800
Treatment of Stock of Raw Material
Treatment of Stock of Raw Material
?
The ‘direct material’ refers to the cost of material 
consumed. The cost of direct material is found by 
adjusting the opening and closing stock of materials. For 
e.g., from the following calculate the value of material 
consumed: 
Raw material purchased 50,000
Opening Stock 10,000
Closing Stock 8,000
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