C G S concept in Accounting

       

Our blogger you get the free items with any download problems. we update the blogger on the daily basis and upload the new items on the bloggers.
IN this pages get the items for your minds and your get free items and others many sames things in this pages, so your find the items and enjoy  the life

 

Cost accounting formulas

Financial statements

1.     Material consumed= opening inventory + net purchases-ending inventory

2.                 Material consumed –opening stock +closing stock       = Purchases

3.     Net purchases        = Purchases + Freight in – purchases return and allowances – purchase discount

4.     Prime cost= Direct material consumed + Direct labour cost

5.     Conversion cost = Direct labour cost+ Factory overhead

6.     Cost of goods manufactured= total factory cost + work in process opening inventory –WIP Eding

7.     Total factory/manufacturing=Direct material consumed consumed +Direct la our cost+factory over head

8.     Cost of goods sold= cost of goods manufactured+finish goods opening –finish goods closing

9.     Total pay = Direct labour cost , Indirect labour cost, sales salries, office salries

10.                        FOH rate= factory overhead *10

                   Direct labour cost

11.                        Number of units manufactured= unit sold+finish goods  ending-finish goods opening

12.                        Per Unit cost=cost of goods manufactured/number of units manufactured

13.                        Net sales=sales-sales return and allowance

14.                        Gross profit=net sales – cost of goods sold

15.                        Operating profit=Gross profit-operating expenses

16.                        Operating expenses=selling and marketing expenses, distribution expenses,+ General or admin expenses

17.                        Net profit=operating profit + other income-other expenses-provision for taxation

18.                        % age of gross profit to net sales= Gross profit*          100

19.                                                                                             Net sales

20.                        % age of net  profit to net sales     = net profit *100

21.                                                                                             Net sales

22.                        Gross profit per unit sold                 =  Gross profit   =   Rs per unit sold

23.                                                                                            Unit sold

24.                        Net profit per unit sold=   =  Gross profit   =   Rs per unit sol

25.                                                                                 Unit sold

26.                        Sales price               = Cost price +net profit

27.                        Sales price               = Direct material cost+Direct labour cost+Factory overhead cost+selling cost + admin cost+net profit

28.                        Gross profit to CGS= Gross profit *100

29.                                                                    CGS

30.                        Cost of turn over    = CGS+ operating expenses

FOH Appliedd

Written as

                        Apply FOH at 50%ect of Direct labour cost or predetermined over-head rate is 50% or 100% of Direct labour cost.

FOH under Applied  

                                    Actual FOH                                                                                                                                                                                                                                                                                                                                                                                      10,000                                 

                                    Applied FOH                                                                       8,0000

Under applied FOH                                                                                                           2,000

                                    Under applied will adjusted as following

1.     +CGS

2.     +entire production

3.     CGS at normal,WIP endig,Finish goods ending

4.     – Gross profit  ( if charged profit and loss account as if required