Reports Issued From Cost Accounting Department To Its Executives

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Subsequent reports may be offered by a Cost Accounting Department for make use of its executives:

(a) Cost sheets commencing the entire cost, analyzed into a variety of elements, giving relative figures for the preceding period and for other plants under identical management.

(b) Using up of material statements, showing total quantity of materials subjected for production, materials in fact embodied in production and wastage.

(c) Labour operation statements providing details about the complete number of hours paid for, standard hours for the output, idle time (and amount engaged) and causes thereof.

(d) Overheads acquired compared with budgets; overheads in reality charged to production and the difference among the amount actually incurred and the amount so charged.

(e) Sales effected matched up to with budgets, showing the dissimilarity between the two because of quality being different from those taken into account while budgeting.

(f) Reconciliation of genuine profit earned with estimated or budgeted earnings.

(g) The total cost of unusually spoiled work in the factory and anomalous losses in the store.

(h) Expenses earned on Research and Development as compared with the planned amount.
Reports about exacting departments and operations (similar to transport or power generation) may also be accumulated and submitted to the departmental manager concerned.

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