Summary of "Cost sheet | Statement Of Cost | Meaning | Numerical | Cost Accounting | BBA | B.Com | MBA"
The speaker, Pooja Singh, welcomes viewers to her channel Accounting Masterclass and encourages them to utilize the detailed videos covering accounting topics for Class XI, XII, BBA, BCom, and MBA.
The video focuses on cost sheets, statement of costs, and numerical calculations in cost accounting.
The methodology for calculating costs involves recording direct materials, adding direct labor and factory overhead, identifying indirect materials and expenses, calculating factory costs, adding office and administrative overhead, and determining the total cost of production.
The speaker provides examples and explanations for calculating costs, including direct materials, labor charges, machine running costs, factory overhead, administration overhead, and total cost of production.
The video also covers the process of calculating the cost of goods sold, selling and distribution overhead, and determining profit.
The speaker emphasizes the importance of accurately calculating units, considering opening and closing stock, and understanding machine rates for accurate cost calculations.
Speakers
Category
Educational
