COST SHEET – FORMAT

25 cars
Particulars Amount Amount
Opening Stock of Raw Material 40,000
Add: Purchase of Raw materials 3,000,000
Add: Purchase Expenses 150,000
Less: Closing stock of Raw Materials 380,000
Raw Materials Consumed 2,810,000
Direct Wages (Labour) 400,000
Direct Charges 222,000 3,590,000
Prime cost (1) 3,432,000
Add :- Factory Over Heads:
Factory Rent 800,000
Factory Power 415,000
Indirect Material 700,000
Indirect Wages 200,000
Supervisor Salary 120,000
Drawing Office Salary 600,000
Factory Insurance 1,100,000
Factory Asset Depreciation 550,000 4,485,000

Works cost Incurred 7,917,000

Add: Opening Stock of WIP 489,000
Less: Closing Stock of WIP 376,500 112,500
Works cost (2) 8,029,500
Add:- Administration Over Heads:-
Office Rent 300,000
Asset Depreciation 120,000
General Charges 45,000
Audit Fees 33,000
Bank Charges 13,000
Counting house Salary 8,000
Other Office Expenses 54,800 573,800
Cost of Production (3) 8,603,300
Add: Opening stock of Finished Goods 1,275,000
Less: Closing stock of Finished Goods 734,300 540,700
Cost of Goods Sold 9,144,000
Add:- Selling and Distribution OH:-
Sales man Commission 100,000
Sales man salary 35,000
Traveling Expenses 6,000
Advertisement 60,000
Delivery man expenses 18,000
Bad Debts 12,000 231,000
9,375,000
Cost of Sales (5) 9,375,000
Profit (balancing figure) 3,125,000
Sales 12,500,000