Question

Name the method used to present the cost elements in vertical form.

Hint:

A Statement Method is also known as the ‘Vertical Cost Sheet’.

Answer 1

In cost accounting, when cost elements are shown in a detailed list arranged vertically, it is called the Statement Method.
In this method, all cost items like direct material, direct labour, direct expenses, and overheads are listed step by step in a column format.
It helps in presenting total cost and cost per unit clearly for management use.
Therefore, the method used for presenting cost elements vertically is the Statement Method.