This document contains cost sheets and profit/loss statements for a university dining hall. It outlines the daily and monthly costs for raw materials, wages, overhead, and sales. It identifies issues with the dining hall's accounting practices, profitability percentages, sales volume tracking, and pricing system. It recommends they improve accounting, track sales more closely, focus on high profit items, and price products based on costs and market rates. It also notes many small business owners in the country are not well-educated on maximizing profit through strategic use of assets given available skilled labor and management.

2.  Md. Enamul Islam Shemul
 Student of Patuakhali Science and
Technology University
 Faculty of Business Administration and
Management
 Session 2013-14

4. Business organization is mainly divided into
three categories as production, department and
service. All these three sectors are closely
related in case of their main objectives. In case
of taking pricing decision, a firm should consider
many things like it all input cost that it is either
related directly or indirectly. Every success of a
business is largely depends on the selling price
determination of that business.

5.  To identify cost terminology involved in
pricing decision;
 To know about the cost sheet including its
format;
 To know about the pricing system of the
organization

6. Fixation of theTerm Paper
Selection of the Sample
Go to working Sector
Collect Data and Information
Processing Data and Information
Final work ground ofTerm Paper

7. Cost sheet
Cost sheet is a statement which shows various components of
total cost of a product and analyses the components of cost
of a product.
Historical cost
Historical cost sheet is prepared on the basis of actual cost
incurred. A statement of cost prepared after incurring the
actual cost is called historical cost sheet.
Estimated cost sheet
Estimated cost sheet is prepared on the basis of estimated
cost. The statement prepared before the commencement of
production is called estimate cost sheet. Such cost sheet is
useful in quoting the tender of a job or a contract.

8. Prime cost
It consists of direct material, direct wages and direct expenses. The
formula of prime cost is,
Prime cost = Direct material + Direct wages + Direct expenses.
Factory cost
In addition of prime cost it includes works or factory overheads.
Factory overheads consist of cost of indirect material, indirect wages
and indirect expenses incurred in the factory. The formula of factory
cost is, Factory cost = prime cost + factory overhead
Total cost & cost sheet
If office and administrative overheads are added to factory or works
cost, total cost of production is arrived at. The formula of total cost is,
Total cost of production = Factory cost + Office & Administration
Overhead

9. Cost of goods sold
It is not necessary that all the goods produced in a period are
sold in the same period. There is stock of finished goods in the
opening and at the end of the period. The formula of cost of
goods sold is, COGS = total cost of production + opening stock
of finished goods – closing stock of finished goods.
Total Cost i.e., Cost of Sales
If selling and distribution overheads are added to the total cost
of production, total cost is arrived at. This cost is also termed as
cost of Sales. Hence the total cost is calculated as:
Total cost = Cost of goods sold + Selling and Distribution
overhead
Sales
If the profit margin is added to the total cost, sales are arrived
at. Excess of sales over total cost is termed as profit. When total
cost exceeds sales, it is termed as Loss. The formula is, Sales =
Total Cost + Profit

10. SL. Item of Product Quantity Price(Tk.) Total Amount
1. Rice 75 kg 30 2250
2. Vegetable 30 kg 20 600
3. Fish 10 kg 130 1300
4. Meat 15 kg 140 2100
5. Egg 100 nos 8 800
6. Oil 7 kg 75 525
7. Potato 25 kg 18 450
8. Pulses 2 kg 100 200
9. Other direct Expenses 600
Total Amount 8825/=
 Transportation cost: 1200 Tk. (Monthly)
 Direct wages: 7000 Tk. (Monthly)
Raw material consumed: Daily Basis

11. SL. Items Quantity Price(Tk.) Total Amount
1. Wood 180 Maund 120 21600
2. 30 Nos’ 13 390
Total Amount 21990/=

12.  Bad Debt : 1700Tk.
 Sales man salary : 3000Tk.

13. SL. Items Unit Price(Tk.) Total Amount
1. Rice 400 8 3200
2. Vegetable 250 5 1250
3. Fish 160 12 1920
4. Meat 160 12 1920
5. Egg 100 12 1200
6. Special Food(Meat) 40 27 1080
Total Amount 10570/=

14. M. Keramot Ali Hall Dining
Statement of cost sheet
Period : For the month ended April 30, 2016
Particulars
Daily Cost Monthly Cost
Unit Price Per Unit Total Cost Unit Price Per Unit Total Cost
Raw Material Consumed
Purchase Of Raw Materials
Rice (kg) 75 30 2250 2250 30 67500
Vegetable (kg) 30 20 600 900 20 18000
Fish (kg) 10 130 1300 300 130 39000
Meat(kg) 15 140 2100 450 140 63000
Eggs (Nos’) 100 8 800 3000 8 24000
Oil (Litter) 7 75 525 210 75 15750
Potato (kg) 25 18 450 750 18 13500
Pulses (kg) 2 100 200 60 100 6000
Other Products 600 18000
Total Raw Material Consumed 8825/= 264750/=
Add : Carriage Inward 1200
Add : Direct Wage 7000
Prime Cost 272950/=
Add : Factory Overhead
Wood (maund) 6 120 720 180 120 21600
Sundry Factory expense (soap) 1 13 13 30 13 390
Cost of Production / COGS 294940/=
Add; Selling & Distribution Overheads
Bad debt 1700
Sales Manager's Salary 3000
Total Cost Of Production 299640/=
Profit 17460/=
Sales 317100/=

15. M. KeramotAli Hall Dining
Profit & loss account
For the month ended 30th April, 2016
Particulars Daily Basis Monthly Basis
Unit Per unit price TotalAmount Unit Per unit price TotalAmount
Rice 400 8 3200 12000 8 96000
Vegetable 250 5 1250 7500 5 37500
Fish 160 12 1920 4800 12 57600
Meat 160 12 1920 4800 12 57600
Egg 100 12 1200 3000 12 36000
Special Food(Meat) 40 27 1080 1200 27 32400
Total Sales 317100/=
Less: Total cost 299640/=
Profit 17460/=

16.  Inappropriate accounting practice.
 Inappropriate profitability percentage.
 Inaccurate information about total monthly
sales volume according to the product line.
 Imperfect pricing system.

17.  Proper accounting practice should be
developed.
 They should be more conscious about the
total volume of sales.
 They should also pay attention to the costing
system in case of pricing of product along
with the market price.
 They should increase the production of most
profitable product.

18. Most of the businessmen of our country are not
well educated. That’s why they cannot make
maximum profit by using minimum asset. Their
strategies are not appropriate all the time. And
moreover if the labor force and the
management are most of the time unskilled,
and that’s why they cannot help in achieving the
goal of wealth maximization.