06-09-2012, 03:16 PM
COST SHEET
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You are running a factory which manufactures electronic toys. You incur
expenses on raw material, labour and other expenses which can be directly
attibuted to cost and which cannot be directly attributed but are incurred
upto their sales. You need to know the composition of cost at different
stages. This will help you in the analysis of cost of a product so that same
can be used for its proper management. In this lesson you will learn about
cost sheet and its various components.
COST SHEET : MEANING AND ITS IMPORTANCE
Cost sheet is a statement, which shows various components of total cost
of a product. It classifies and analyses the components of cost of a product.
Previous periods data is given in the cost sheet for comparative study. It
is a statement which shows per unit cost in addition to Total Cost. Selling
price is ascertained with the help of cost sheet. The details of total cost
presented in the form of a statement is termed as Cost sheet