top button
Flag Notify
    Connect to us
      Facebook Login
      Site Registration Why to Join

Facebook Login
Site Registration
Print Preview

What is a Cost Sheet and what are the advantages of using it?

+1 vote
1 view
posted Jul 7 by Sherlyn Mishra

Share this question
Facebook Share Button Twitter Share Button Google+ Share Button LinkedIn Share Button Multiple Social Share Button

1 Answer

0 votes

Cost sheet is a statement wherein detailed information about costs is depicted and a total cost of product manufactured during a particular period of time is ascertained. The cost sheet is prepared for a particular period, e.g. monthly, quarterly etc.

The cost sheet is prepared with the following objectives:

(i) It ascertains the total cost and cost per unit for a particular period.

(ii) It enables the management to fix up sale price of products.

(iii) It helps to present a comparative study of current costs with the costs of the corresponding period.

(iv) The management can identify the causes of inefficiencies and wastages and can take corrective measures.

(v) It provides management with suitable information for management control.

(vi) It also helps the management considerably in formulating suitable and definite production policy.

(vii) Cost sheet enables the businessman to submit quotation against tenders.

answer Jul 8 by Shubham Rajput
Contact Us
+91 9880187415
sales@queryhome.net
support@queryhome.net
#470/147, 3rd Floor, 5th Main,
HSR Layout Sector 7,
Bangalore - 560102,
Karnataka INDIA.
QUERY HOME
...