Arranging cost data to calculate production cost for each product by cost element (Materials, Labor, manufacturing overhead and classifying cost elements in accordance with Variable, fixed, direct and indirect cost.
Valuation of WIP/GIP and Finished Goods Inventory and calculation of Cost of Goods Sold/Cost of Revenue.
Prepare work order/batch or project costing reports and details.
Review overhead cost and allocation rate periodically.
Regular checking of raw materials, consumables spare parts. WIP/GIP and finished inventory movements and reconcile inventories versus general ledger.
Preparing Profit & Loss statements for each project/product monthly to determine segment contribution as well as BEP (Breakeven point).
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