Advantages of Cost Sheet
- 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.
- 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.
- It helps the management in fixing up the selling price more accurately.
- If acts as a guide to the manufacturer and helps him in formulating a definite and profitable production policy.
- It enables a producer keep a close watch and control over the cost of production.
- It shows the total cost and the per unit of the units produced during the given period.
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