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Cost Sheet

Cost sheet is a statement which has to be prepared for the purpose of finding out total cost of the particular product. In other words, it is a statement to show the product manufactured during a particular accounting period along with the break-up of costs.

Bigg defines, “The expenditure, which has been incurred upon production for a period, is extracted from the financial books, and stores records, and set out in a memorandum or a statement. If this statement is confined to the disclosure of the cost of the units produced during the period, it is termed as cost sheet”.