Dear students,

Our teacher has send as this mail on the costing assignment. the assignment name is (cost sheet).can you please provide the solution

Thank you................

I have realised that quite a lot of you are not clear with the assignment requirements. In this mail I am giving you a detailed explanation:

QUESTION 1: In this question, you all have to pick a product. For example I pick "SHIRT". (Now none of you will do your assignment on this product).

1st Part of the question is Background- The shirt product I have chosen is made be "Tommy Hilfiger". It is made in a factory and is completely manufactured. Hemming is done by hand and rest is all taken care of by machines. After making the shirts, they are packaged and without packing they cannot be sold. Tommy Hilfiger has headquarters in XYZ city. They have xxx number of showrooms around the world..........................etc etc

2nd Part- Cost Sheet - Kindly note how under selling & Distribution expenses I have added "Fashion show expenses". Now for you product you have to find out what unique expenses can be added. This you will easily get from Google.

Cost elements		Total Cost	Cost per unit
Raw Material Consumed
Cloth	xxx
Thread	xxx
Buttons	xxx
Transport Inwards	xxx
Packaging material	xxx	xxx	xxx
Direct Labour		xxx	xxx
Machine usage		xxx	xxx
Prime cost		xxx	xxx
Add: Factory Expenses
Rent	xxx
Electricity	xxx
Factory Depreciation	xxx
Factory Manager Salary	xxx
etc	xxx
etc	xxx
etc	xxx
Works Cost		xxx	xxx
Office & Admin Expenses	xxx
Headquarters Rent	xxx
Depreciation	xxx
etc	xxx
etc	xxx
Cost of Production		xxx	xxx
Add: Selling & Distributionexp
Showroom rent
Showroom etc
etc
Advertising
Fashion Show Expenses
Total Cost and Cost of sales
Add: Profit
Total Sales

Question 2 Part (i)- I understood that many of you did not understand how to find the value of closing stock. So now I have decided to give you closing stock value which is USD 15,000. Attached is the revised assignment, change highlighted in red.