Operating costing & service costing
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This document discusses service costing and transportation costing. Service costing is used to determine the total cost of rendering standardized services to customers. Transportation costing is used by transport services to calculate the cost of providing passenger or freight transportation. Key steps include determining cost units like passenger-kilometers or tonne-kilometers, compiling all costs, and preparing an operating cost sheet that categorizes costs as fixed, semi-variable maintenance costs, or variable operating costs. An example operating cost sheet format is also provided.
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Webinar Recording - http://embarqindiahub.org/webinars/bus-karo-20-webinar-2-using-information-and-communication-public-transport
Related Research - http://embarqindiahub.org/publications/bus-karo-20-case-studies-india
Upcoming Webinars - http://embarqindiahub.org/e-learning/webinarsProfessional_Contents
The document discusses fleet management and maintenance services. It states that the author has over 25 years of experience in fleet management and maintenance which can help organizations reduce transportation expenditures and increase productivity. The author provides details on their expertise in areas like vehicle maintenance, fuel efficiency, personnel management, budgeting, and operational aspects. They also list their professional training and qualifications to provide these services.
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Operating costing & service costing
- 1. Dr. Mohamed Kutty Kakkakunnan Associate Professor P.G. Dept. of Commerce NAM College Kallikkandy Kannur- Kerala- India
- 2. S E R V I C E ( O P E R AT I N G ) C O S T I N G - A form of costing used by firms engaged in rendering of standardized services to its customers - To determine the total cost of rendering services and controlling the cost of rendering service - Basic objective is to ascertain the cost of producing and maintaining a service - Adopted by transport services, supply services, welfare supplies, municipal services etc
- 3. Transport Costing A method of costing used by transport services rendering undertakings to ascertain the cost of rendering transport services – either passenger transportation or goods transportation Ascertainment of Total Cost Following steps are taken to determine the total costs - 1. Determination of cost units - 2. Compilation of costs and preparation of cost statements
- 4. 1- Cost Units Two types of cost units – a. Simple cost units – when only one characteristic feature is used for determining the cost unit Eg., Kilometer, tonne, passenger etc a. Composite cost units – when two or more characteristics are considered for cost unit Eg. Passenger Kilometer, Tonne Kilometer In transportation costing, generally composite cost units are used such as passenger kilometer, tonne kilometer etc
- 5. Const unit contd… while determining the cost unit number of vehicles, kilometers ran, number of days and number of trips, number of passengers (weight of goods) etc., need be considered Eg. Number of buses - 10; days operated in a month -25; number of round trips by each bus – 4; distance of route (one side) 40 kilometers; capacity of bus – 40 passengers ;normal passenger travelling 90% capacity In this case kilometers = Number of Buses X Number of Days X Number of Trips X Distance = 10 x 25 x 4 x 2 x 20 = 40,000 kms Passenger kilometer = Number of Buses X Working Days X Trips X Distance X Passengers = 10 x 25 x 4 x 2 x 40 x 90% = 14,40,000 passenger Kms
- 6. 2- Ascertainment of Cost To ascertain the cost in operating costing an operating cost sheet will be prepared operating cost sheet is similar to that of ordinary cost sheet, but the total costs are classified as :- 1. Standing or fixed charges – “charges or expenses incurred irrespective of the kilometers run – Eg. Salary of manager, motor vehicle tax, insurance etc 2. Maintenance charges or semi-variable Eg. tyres, repairs and maintenance, painting, overhauls etc 3. Operating or running charges – variable expenses, which vary according to the kilometers. Eg. Petrol, oil etc. include all expenses made or incurred according to kilometers ran
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