What are the advantages of cost sheet?


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Advantages of Cost Sheet

  1. It is a simple and useful medium of communication which gives information about costs to all levels of management in a simple and lucid form.
  2. It helps in comparative study of the various elements of costs with the past results and standard cost. Thus it helps the management in control process.
  3. It helps the management in fixing up the selling price more accurately.
  4. If acts as a guide to the manufacturer and helps him in formulating a definite and profitable production policy.
  5. It enables a producer keep a close watch and control over the cost of production.
  6. It shows the total cost and the per unit of the units produced during the given period.

 


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