Cost Sheet :
Suggested cost sheet as per CAS-4 is as follows –
Statement of cost of production of ……………….. manufactured/to be manufactured during the period …………………
Q1 Quantity Produced (Unit of Measure)
Q2 Quantity Dispatched (Unit of Measure)
Particulars Total Cost (Rs) Cost/Unit (Rs)
1 Material Consumed
2 Direct Wages and Salaries
3 Direct Expenses
4 Works Overheads
5 Quality Control Cost
6 Research and Development Cost
7 Administrative Overheads (Relating to production capacity)
8 Total (1 to 7)
9 Add – Opening stock of Work-in-Progress
10 Less – Closing stock of Work-in-Progress
11 Total (8+9-10)
12 Less – Credit for Recoveries/Scrap/By-Products/Misc Income
13 Packing Cost
14 Cost of Production (11-12+13)
15 Add – Inputs received free of cost
16 Add – Amortised cost of moulds, tools, dies and patterns etc.
received free of cost
17 Cost of Production for goods produced for captive consumption (14+15+16)
18 Add – Opening stock of finished goods
19 Less – Closing Stock of finished goods
20 Cost of production of goods dispatched (17+18-19)
[Note – The form is common both for future cost and historical cost. In case of future cost (say for future quarter or half year), some of the columns e.g. opening and closing stock of WIP and FG are not relevant. In such case, in my opinion, the columns may be marked ‘N.A.’ i.e. ‘Not Applicable’. Similarly, column 20 should be ‘Unit Cost of Production’. The vertical column ‘Total Cost (Rs)’ is irrelevant in case of ‘future cost’ and may be filled as ‘N.A.’ – – Costing can be for future period and not past cost, i.e. not historical cost. Such cost may be calculated on quarterly basis, depending on fluctuations expected in costs].