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A.SENTHIL KUMAR
Faculty-Finance
Pariculars
Opening Stock of Raw Materials
Add: Purchase of Raw Materials
Less: Purchase Returns
Less: Closing Stock of Raw
Materials
Direct Materials Consumed
Carriage inwards
Any other purchase expenses
Direct Wages
Add: Outstanding, if any
Direct Expenses:
Excise Duty
Copy Right
PRIME COST
ADD: FACTORY OVERHAEADS
Foremans Salary
Factory, Rent, Lighting
Gas, Water
Repairs & Maintenance (factory)
Depreciation on Plant & Machinery
Motive Power
Oil, Grease, Consumables
Factory rates and taxes
Indirect wages and any other
expenses relation to manufacturing
(or) factory
FACTORY OVERHEADS
GROSS WORKS COST
(Prime Cost + Factory o/h)
Add: Opening Stock of WIP
Less: Closing Stock of WIP
NET WORKS COST
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Amount Total
Rs.
Cost Rs.
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Cost per
Unit Rs. P.
A.SENTHIL KUMAR
Faculty-Finance
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Important Note: Items that are charged against profit only should be included in the
cost sheet. Items that are distribution from profit, pure financial items, and items
relating to capital, for eg., income tax, dividends, cash discount, abnormal wastages,
profit or loss on sale of assets, goodwill or preliminary exprnses written off, expenses or
loss on issue of capital should not be included in the cost sheet.
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