job & batch costing-illustrations

Management Accounting By Paresh ShahOxford University Press

Chapter No. 7Chapter Name Job And Batch Costing

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Cost SheetAmt. (Rs.)

MaterialsWages

Dept A =Dept B = 0

OverheadsTotal Cost of a Job 0

Factory Overheads Charged to JobParticulars

RentFactory Overheads other than rent

Total 0

Job Cost Sheet

Particulars

Job no. Job no.

A 100 B 200

Rs. Rs.

MaterialLabour Machining department Assembly department Finishing department

Prime cost 0 0

Factory overheadMachining department Assembly department Finishing department

Factory cost 0 0

General administration

Total costs 0 0.00

Selling Price Profit 10% on total cost

order quantity 1price per orderCost Sheet

Particulars Rs. Rs.

MaterialsLabour: Blanking DeptMachining DeptWelding DeptAssembly Dept 0

Direct expenses: Hire of special equipment

Prime cost 0

Production overhead: BlankingMachining WeldingAssembly 0

Factory cost 0

Selling and administration overheads

Total cost 0 cost per order 0.000 profit per order 0.000

Job cost sheet for the year ending Dec. 31 2006Particulars Rs.

Direct materialsDirect wages

Prime cost 0 Factory overheads

Works cost 0 Administration overheads

Cost of production 0 Selling and distribution overheads

Cost of sales 0 Profit 0

Sales

Estimated job cost sheet for 2007Particulars Rs.

Direct materialDirect labour

Prime cost 0

Factory overheads

Works cost 0

Administration overheads

Total cost of production 0

Selling and distribution overheads

Cost of sales 0

Profit 0

Price to be quoted for the jobs

Statement of factory costParticulars

Rs. Rs.

MaterialsDirect wages

Prime cost 0 0

Add factory overheads

Factory cost 0 0

Halsey plan

Rowan plan

Overall Position of the OrderUnits = 1

Rs.Sales ValueTotal CostProfit 0

Cost Sheet For Six months ending 30th June

Months Jan. Feb. March

Batch output (units) 1.00 1.00 1.00

Sales Value(Rs.) 0.00 0.00 0.00

Cost of Material (Rs.)Direct Wages (Rs.)Chargeable Expenses (Rs.)

Total Cost (Rs.) 0.00 0.00 0.00

Total Cost per unit (Rs.) 0.00 0.00 0.00

Profit per batch (Rs.) 0.00 0.00 0.00

Profit per unit (Rs.) 0.00 0.00 0.00

Cost Sheet For Six months ending 30th June

April May June Total1.00 1.00 1.00 6.00

0.00 0.00 0.00 0.000.000.00

0.00

0.00 0.00 0.00 0.000.00 0.00 0.00 0.000.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

Cost Sheet

Particulars 3 months 9 months

Production (units) 0Rs. Rs. Rs.

Direct Material 0

Direct Labour 0Prime Cost 0 0 0Overheads:Fixed 0Variable 0

Semi-variable 0Total Cost 0 0 0 Profit 0

Sales Average selling price per unit Rs.

Total for the year

Cost sheet showing cost and profit per unit of batch

October November December

Batch (Units) 1 1 1

Sales Value

Materials Costs

Labour Costs

Overheads

Total Cost 0 0 0 Total Profit 0 0 0 Cost per unit 0 0 0 Profit per unit 0 0 0

Statement of Cost and ProfitRs. Rs.

Opening stock of Raw Materials

Add: Purchase of Raw materials0

Less: Closing stock of Raw materials0

Add: Carriage inward

Materials Consumed 0

Wage Prime Cost 0 Factory Expenses

Works manager’s salaryFactory employees’ salariesFactory rent, taxes and insurancePower expensesOther production expenses

Opening work in progress 00

Less Closing work in progress

General ExpensesCost of Production 0

0

Cost of Goods Sold 0 Selling Expenses

Sales TaxCost of Sale 0 Profit 0 Sales

Add: Opening stock of Finished Goods

Less: Closing Stock of Finished Goods