SPCIMEN OF COST SHEET FOR A MANUFACTURING COMPANY

A Cost Sheet or Cost Statement is “a document which provides detailed cost information about a Cost Object." Cost
information is presented on the basis of functional classification. However, other classification may also be adopted
as per the requirements of users.

UNITS Produced
PERIOD: From…………. To…………..
UNITS Sold
COST ITEMS Rs. Rs./ Unit
1 Direct materials consumed:
Opening Stock of Raw Material
Add: Purchases
Add: Incidental Expenses
Less: Closing stock of Raw Material
Direct materials consumed
2 Direct employee (labour) cost
3 Direct expenses -
4 PRIME COST (1+2+3) -
5 Add: Production (or Mfg.) OH/ Iindirect Mfg. costs 63,000
6 Add: Opening Work in Process
7 Less: Closing Work in Process
8 FACTORY COST/ MANUFACTURING COST (4+5+6-7) 100,000 63,000 0.630
9 Administrative Overheads (if allocated to Cost Objects)
10 Less: Credit for Recoveries/ Scrap/ By-Products/ Misc. income
11 Add: Packing cost (primary)
12 COST OF PRODUCTION /MANUFACTURE (8+9-10+11) 100,000 63,000 0.630
13 Add: Opening stock of finished goods - -
14 COST OF GOODS AVAILABLE FOR SALE (12+13) (COGAS) 100,000 63,000 0.630
15 Less: Closing stock of finished goods 33,286 20,970 0.630
16 COST OF GOODS SOLD (14-15) (COGS) 66,714 42,030
17 SALES 66,714 436,800 6.547
18 GROSS PROFIT 394,770
19 Add: Admin, Selling, Marketing & Distribution Overheads 212,850
20 OPERATING PROFIT 181,920
 Comments

Rare to have
Direct labour+All mfg. Costs=Conversion costs

Not generally part of manufacturing cost