Cost Sheet Homework Help

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What is a cost sheet?

 
If a job is being done in the production sector, then all the details regarding all the accumulated cost for the product is reported in a cost sheet. The main task of a cost sheet is to verify the margin achieved on job. It also helps in setting the prices for the upcoming similar jobs in the near future. In this article for cost sheet homework help we discuss about how cost sheet plays an important role to base the variety of cost control measures. There can be either a manual or computerized cost sheets.
 
The cost entitled on the report is represented below by our cost sheet homework help writers
 
• Direct material
• Direct labor
• Allocated overhead
• Allocated administrative overhead
 
Apart from the above mandatory details there are certain quantified details that may or may not be shown in the cost sheet homework help report.
 
• Shipping and handling
• Supplies
• Outsourced cost
The cost sheet is also termed as a costing sheet in many firms.
 

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Format of a cost sheet in cost sheet homework help article

 
COST SHEET
No. of units………
initial Stock of Raw material … … … … … … … …
Add: Purchases … … … … … … … …
… … … … … … … …
Less: Closing Stock … … … … … … … …
Cost of material Consumed → … … … … … … … …
Add: Direct Labor/Wages … … … … … … … …
Prime Cost → … … … … … … … …
Add: Works overheads … … … … … … … …
Works Cost → … … … … … … … …
Add: Administration overheads … … … … … … … …
Cost of Production → … … … … … … … …
Add: Selling and distribution overheads … … … … … … … …
Total Cost or Cost of Sale → … … … … … … … …
 
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