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Format 4 Cost Accounting

This document provides a format for a cost accounting sheet. It includes sections for direct material costs, direct wages, direct expenses, factory overhead, office administration overhead, cost of production, cost of sales, and the treatment of opening and closing stocks of raw materials, work in progress, and finished goods. The cost sheet is to be prepared for a given year and include production and sales units as well as itemized costs.

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Rahul Purshottam
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116 views

Format 4 Cost Accounting

This document provides a format for a cost accounting sheet. It includes sections for direct material costs, direct wages, direct expenses, factory overhead, office administration overhead, cost of production, cost of sales, and the treatment of opening and closing stocks of raw materials, work in progress, and finished goods. The cost sheet is to be prepared for a given year and include production and sales units as well as itemized costs.

Uploaded by

Rahul Purshottam
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Format for Cost Accounting

Cost sheet for the year ended _______


Production ____ units, sales ____ units.

Particulars Amount

Direct Material **
Direct Wages **
Direct Expenses **
∴Prime Cost **
ADD: Factory O/H **
∴Factory/Works Cost **
ADD: Office/Administration **
O/H **
Cost of Production **
ADD: Selling and
Distribution O/H **
∴Cost of Sales **
ADD: Profit **
∴Sales
Treatment of Opening and Closing Stock
of Raw Material

Particulars Amount

Direct Material **
Opening Stock of Raw **
Material **
(+) Purchases of Raw **
Material (**)
(+) Carriage/Freight Inward
**
(-) Closing Stock of Raw
Material
∴Direct Material
Treatment of opening and closing stock
of work in progress

Particulars Amount

Direct Material **
Direct Wages **
Direct Expenses **
Prime Cost **
ADD: Factory O/H **
**
(+) Opening Stock of W.I.P. **
**
(-) Closing Stock of W.I.P. (**)
∴Works Cost **
Treatment of Opening and Closing Stock
of Finished Goods

Particulars Amount

Direct Material **
Direct Wages **
Direct Expenses **
Prime Cost **
ADD: Factory O/H **
∴Works Cost **
ADD: Office and **
Administration O/H
∴Cost of Production **
(+) Opening Stock of **
Finished Goods
Cost of Goods available for **
Sale (**)
(-) Closing Stock of Finished
Goods **
∴Cost of Goods Sold

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