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
Notable Quotes
— 12:03 — « in which field will you record those expenses of the factory. Is it from the office, is it the cost of that material, is it the cost of the label, is it the cost of labor, is that you have to enter it and record it there and add it. »
— 18:15 — « Then you will add all these, uh, will get 11.20, okay, this is your office overhead, okay, so now in school. »
— 22:27 — « next expense is done Next read subscribe expense »
— 27:42 — « after this, what is the next step, if you add office or administration overhead, then office admin means office material, if we add the indirect expense of this Indian Labor Office. Ours will go and this is called cost of production. »
— 29:27 — « Search for question A, and hence you will have to wait. You have been told that 16 thousand units will be folded from the unit at ₹100, subscribe. »
Category
Educational