Exhibit: Specimen of a cost sheet
STAR MANUFACTURING CO. LTD.
COST SHEET
for the period of ... ...
...
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Direct Materials
Direct Labor
Direct Expenses
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j
|
PRIME
COST
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Add:
Factory Overhead
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k
|
WORKS
COST/FACTORY COST *
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Add:
Opening Work in Progress (Opening WIP)
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Less:
Closing Work in Progress (Closing WIP)
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l
|
COST
OF GOODS MANUFACTURED
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Add:
Office and Administrative Overhead
(as
UK rules)
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m
|
COST
OF PRODUCTION **
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Add:
Opening Finished Goods
Less:
Closing Finished Goods
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||
n
|
COST
OF GOODS SOLD
|
|
Add:
Office and Administrative Overhead
(as
USA rules)
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||
Add:
Selling and Distribution Overhead
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||
o
|
TOTAL
COST OF GOODS SOLD/ COST OF SALES
|
|
Add:
Profit
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p
|
SALES
|
Notes:
-
"Direct wages + Factory overhead" is known as conversion cost.
* At
this stage we normally get half done goods.
**
This stage shows cost of finished goods.
