Question

What is a cost sheet? Prepare a format of a cost sheet.

Hint:

Cost sheet shows cost at each stage of production

Answer 1

A cost sheet is a statement showing the detailed cost of production at different stages. Format: \begin{tabular}{|p{8cm}|p{3cm}|} \hline Direct Material & xxx
Direct Labour & xxx
Direct Expenses & xxx
\hline Prime Cost & xxx
Factory Overheads & xxx
\hline Factory Cost & xxx
Administrative Overheads & xxx
\hline Cost of Production & xxx
Selling Overheads & xxx
\hline Total Cost & xxx
\hline \end{tabular}