and pdfSaturday, May 1, 2021 11:24:16 AM0

Cost Sheet Problems And Solutions Pdf

File Name: cost sheet problems and solutions .zip
Size: 2215Kb
Published: 01.05.2021

Cost Sheet

Cost Sheet for the period ended.. Units Produced.. Name of the product Particulars. Non cost items ie. Items to be excluded from cost. Appropriations: Bad debts reserve, dividends paid, charitable donations, transfer to reserve, sinking fund, debenture redumption fund, machinery replacement fund, investment fluctuation fund. Abnormals: Abnormal wastage, abnormal idle time, loss by fire, loss by theft, loss of stock, insurance premium.

In this article we have compiled various cost accounting problems along with its relevant Solutions. After reading this article you will learn about cost accounting problems on: 1. Cost Sheet 2. Economic Ordering Quantity 3. Store Ledger 4. Labour Hour Rate 6. Secondary Distribution 7.

Chapter List. Statement of Cost. Opening stock of raw materials. Add: Purchase of raw materials. Add: Carriage on purchases. Less: Closing stock of raw materials.

Cost Sheet is a statement, prepared at given intervals of time, which provides information regarding elements of cost incurred in production. It discloses the total cost as well as the cost per unit of the product manufactured during the given period. If it is desired to compare the costing results of a particular period with any of the preceding periods, comparative columns can be provided in the Cost Sheet. A cost sheet is an exercise in collection of information regarding all the costs incurred in the industry and arranging them in a certain order. The information required to prepare a cost sheet is gathered from several records in the organization. A cost sheet is a statement designed to show the output of a particular accounting period along with its break-up of costs.

Cost Sheet Solved Practical Problems (2)

Direct material - Rs. Illustration 2. It can be shown in vertical form such as cost sheet Particular Opening stock of raw material Add:- Purchase Add:- Expenses incurred on purchases Raw material available Less :- closing stock of raw material Raw material consumed Add:- Direct wages or labour Add:- Direct expenses Prime cost. Details Rs 12, 7, 5, , 22, Current manufacturing cost Add:- Opening stock of work in progress Total goods processed during the period Less:- Closing sock of work in progress Factory cost or work cost.

Breaking News. Cost Sheet Solved Practical Problems 2. The accounts of the Steelways Engineering Co. Materials used.