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Target and Actual Job Costing Analysis

Target and Actual Job Costing Analysis of Garment Sectors

Target and Actual Job Costing Analysis of Garment Sectors is most important to make decision to known actual profit of organization. The job costing in garments sector or manufacturing company are used tow types of polices. One of them are details calculation as per below. Here i am express “Analysis of Target Profit oriented report” and “Actual Costing Report” to

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Pre-Cost Format, Work Order or Purchase Order format

Work Order or Purchase Order format of Manufacturing company

Work Order or Purchase Order format of Manufacturing company is very important to give an order to seller or service holder. It is also very important to maintain smooth commercial operation. The format not only is maintain within the manufacturing company also have maintaining any other enterprise or group of company, The below standard and smart format is describe your

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Motor Bike Ride Sharing Service for life lead

Motor Bike Ride Sharing Service for life lead

Motor Bike Ride Sharing Service for life lead is profitable on not, today we are discussed about it. Now a days we are well known about ride shearing at Dhaka metropolitan. Those are available at Dhaka Metropolitan area by Pathio, Uber, SAM, Sohoz and Let Go. The service are most power full source of income for private service holder, Student

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ITP (Income Tax Practitioner) Exam Question and Suggestion

ITP (Income Tax Practitioner) Exam Question and Suggestion

ITP (Income Tax Practitioner) Exam Question and Suggestion is most important to every student who are attained in ITP examination. Today I like to share with you about basic question of Accounting, Bangla & English of ITP examination. The Accounting, Bangla & English question are bellow-

Accounting- i)                   Definition of Accounting, ii)                 Describes the feature of gift, iii)              What is the transaction, iv)                What is the equation of accounting transaction, v)                 What is the double entry system, vi)               What are the procedure of double entry system, vii)            Describe the circle of Accounting, viii)          Describe the  modern procedure of debtors and creditors and also the equation, ix)               What is the meaning of journal, x)                  Definition of journal, xi)               What is the meaning of ledger and it’s definition, xii)             Difference between journal and ledger, xiii)          What is the definition of trail balance, xiv)           Why the trail balance is equal in both side, xv)             What is the meaning of contra entry with double entry, xvi)            What do you mean by final accounts, xvii)        What is the Authorized Capital and Paid up Capital, xviii)      Difference between Share and Stock


Bangla- i)   Bakka Songkochon/Akothai Prokas, ii)   Beporith Shobdha, iii) Ukti, iv)  Karok, v) Pad, vi)  Bachon, vii)  Beram Chinno, Joti Chinno, Chead Chinno, viii)   Sondhi, ix)  Somarthak Shobdha, x)  Latter, xi)   Application, xii)  Vabsomprosaron, xiii) Sarangsho, xiv)  Essay,

English- i)  English to Bengali, ii)   Bengali to English, iii)  Essay, iv)  Paragraph, v)  Letter/Application, vi)               Translation, vii)  Free Writing, viii)  Composition, ix) Grammar (Voice, Narration, Transformation of sentence, Degree)
I think so, the above topics are helpful for you, if you likes the suggestion please subscribe by chennal SaifSafe from Youtube

Target and Actual Job Costing Analysis of Garment Sectors

Target and Actual Job Costing Analysis

Target and Actual Job Costing Analysis of Garment Sectors is most important to make decision to known actual profit of organization. The job costing in garments sector or manufacturing company are used tow types of polices. One of them are details calculation as per below. Here i am express “Analysis of Target Profit oriented report” and “Actual Costing Report” to management for make decision to safe liquidity in the preparation process.

Target and Actual Job Costing Analysis of Garment Sectors:
Order Qty:10000Pcs
FOB $                                         5.00Pcs
FOB $                                    50,000
Materials 60%On FOB
FOH26.50%On FOB
SOH3.50%On FOB
Profit10%On FOB
Actual Cost:
Materials Cost $                                    30,000
FOH $                                    13,250
SOH $                                       1,750
Profit $                                       5,000
Standard Cost Sheet
Target Oriented ReportActual Report
Month Jan-18Month Jan-18
Sales2500Pcs $  12,500.00Sales 2500Pcs $    12,500.00
Less:
Materials Cost60.00% $    7,500.00Materials Cost60.00% $       7,500.00
FOH26.50% $    3,312.50FOH26.50% $       3,312.50
SOH3.50% $        437.50SOH3.50% $          437.50
Profit10.00% $    1,250.00Profit10.00% $       1,250.00
Month Feb-18Month Feb-18
Sales3000Pcs $  15,000.00Sales 3000Pcs $    15,000.00
Less:
Materials Cost60.00% $    9,000.00Materials Cost60.00% $       9,000.00
FOH26.50% $    3,975.00FOH26.50% $       3,975.00
SOH3.50% $        525.00SOH3.50% $          525.00
Profit10.00% $    1,500.00Profit10.00% $       1,500.00
Month Mar-18Month Mar-18
Sales4000Pcs $  20,000.00Sales 4000Pcs $    20,000.00
Less:
Materials Cost60.00% $  12,000.00Materials Cost60.00% $ 13,500.00
FOH26.50% $    5,300.00FOH26.50% $       5,962.50
SOH3.50% $        700.00SOH3.50% $          787.50
Profit10.00% $    2,000.00Profit10.00% $        (250.00)
Target Oriented ReportActual Report
FOB $  47,500.00FOB $    47,500.00
Materials60.00% $  28,500.00Materials63.16% $    30,000.00
FOH26.50% $  12,587.50FOH27.89% $    13,250.00
SOH3.50% $    1,662.50SOH3.68% $       1,750.00
Profit10.00% $    4,750.00Profit5.26% $       2,500.00
Actual Vs Target

Job Order Pre-Cost Sheet, Job Cost Sheet, PO Wise Cost Sheet, Style Wise Cost Sheet format

Pre-Cost Format, Work Order or Purchase Order format

Job Order Pre-Cost Sheet, Job Cost Sheet, PO Wise Cost Sheet and Style Wise Cost Sheet format is very important to extract a pre-cost format when an order given by Buyer. The garments industries management want to know how will get the profit on ongoing production on specific Style or Job or PO. A Cost Management Accountant is prepared the Job cost sheet and submit to the management. So, how to prepare the Job cost sheet for ongoing production. The below format is for your kind information. If your think that the below format is not understanding for you, you can also download the soft copy for your observation.

           
 A. Order Information:  B. Productivity:      
 BuyerXYZMan      72.00    
 Sales Contract/Master LC NoXYZ-978576Machine      56.00      
 Style ReferenceSaif CaféPdn/Hr    150.00     
 Job No******SM      18.30     
 SessionSummerEfficiency %63.54%     
 Order Qty(Pcs)10000 PcsFO/MH (B4 Interest)        1.38     
 FOB Value$67,400.00SO/FOB (B4 BD)3.50%     
 FOB/Pcs$6.74FO/Pcs            –       
 Maturity Days Negotiation CM/Dzn      15.00     
 Deffered Interest Rate 0%Pre Costing CM/Dzn            –       
            
 C.Direct Expenses Actual :          
 Item DescriptionSupplierGmts ColorGmts Order QtyCons/ Pc ActualWastage %UnitItem QtyRate/ Unit USD. Amount
 Fabrics         
 Fabric: 98% cotton 2% Elast- Twill********Solid10000 Pcs1.623%Yds16150.67 $            –    $                   –   
 T/C Piping******** 10000 Pcs0.353%Yds3510.00 $            –    $                   –   
 Interlining******** 10000 Pcs0.303% Yds 3050.00 $            –    $                   –   
           
 Accessories Actual :         
 Main label COXLAM0001********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 Size label********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 Label fit********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
  Care label ********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 COLOR WARNING ********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 Hang-Tag Price********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 Plastic seal********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 HANG-TAG FIT SLIM********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 HANG-TAG STRETCH********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 CAPO LAVATO********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 Metal button********All10000 Pcs2.003%Pcs22000.00 $            –    $                   –   
 Crystal Rivet********All10000 Pcs2.003%Pcs22000.00 $            –    $                   –   
 Zipper********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 THREAD********All10000 Pcs1.003%Pcs11000.00 $            –    $                   –   
 Poly********All10000 Pcs1.003%Pcs10000.00 $            –    $                   –   
 Carton  ********All10000 Pcs1.003%Pcs10000.00 $            –    $                   –   
 Testing cost********All10000 Pcs1.003%Pcs10020.00 $            –    $                   –   
 Inspection Charge********All10000 Pcs1.003%Pcs10020.00 $            –    $                   –   
 Courier Cost & Others********All10000 Pcs1.003%Pcs10020.00 $            –    $                   –   
          $            –    $                   –   
 Embellishment :        $            –    $                   –   
 Printing:***********                       –  0 Pcs                –  0%Dzn  $            –    $                   –   
 Washing Dyeing***********                       –  1 Pcs                –  0%Dzn833.33 $            –    $                   –   
 Embroidery: Fancy Emb at Bk Pkts**************                       –  0 Pcs                –  0%Dzn  $            –    $                   –   
 Others Expenses:        $            –    $                   –   
 Commercial Cost 0.00      $            –    $                   –   
 Local Agent CommisionAsmara0.00    67400.00 $            –    $                   –   
   0.00      $            –    $                   –   
 Total Amount:  $                   –   
            
 D.Total Cost :   Area for Notes:     
 Sales Value$67,400.000.00% 1      
 Direct Expenses                                –  0.00% 2      
 Net CM Revenue                                –  0.00% 3      
 Factory Overhead                                –  0.00% 4      
 Selling Overhead                                –  0.00% 5      
 Deffered Interest                                –  0.00% 6      
 Nett Profit                                –  0.00%        
            
          
 Prepared By  Varified By    Approved By
            
Pre Cost Sheet Format

The garments industries of Bangladesh most of the garments orders are taken by buyer from abroad. The orders are confirm by lots of way or activity like as Sample, Development, Previous Relation or Existing Relation by Local Buyer. Overall so many source are involve when an orders are taken. When buyer confirm his orders to seller, they shoot a purchase order (PO) or Work Order Sheet for requesting Proforma Invoice (PI) related with PO. Because of when the buyer is get the PI they issue a Export LC to Concern Bank for confirm the orders. Here so many topics and activity are there but main thing is order sheet or PO sheet involve lots of PO Number, Style, FOB price and contract rules and so on. 

The Charges are in RMS Sectors When Buyer Remittance to Seller

Export Remittance Charges

The Charges are in RMS Sectors When Buyer Remittance to Seller. The Charges in RMG sectors are commonly used in export import business. The export and import business has occurred by Treading, Garments, Production as well as so on. As per export LC by the bank HSBC & Standard Bank  use to full fill the process on hole export and import business. So, the concern party and applicant are both involve to bear the lots of charges and identified charges in the export LC clause. The below charges for your kind information

LCH
TSF
CABLE
RElMB
DI SC
AGENT I S
HDLG
DC OPEN

The above charges are to be charge when we get remittance from buyer by bank. The below details are for your kind review.

SLTYPESAMOUNT
1DISCOUNT $        70.00
2REIMB $        50.00
3TLX $     102.00
4CILE $        53.81
5PLI $        53.82
6TCS $     322.88
7TSF $        25.00
8ACC COM $        55.00
9SWIFT $        30.00
10SCB NEW YORK $        15.00
 TOTAL $     777.51
Remittance Charges of RMS Sectors

The above charges may be very depend on buyer and seller agreement.


The declaration  by applicant of the export LC is AIL BANKING CHARGES INSIDE LC ISSUING COUNTRY WHICH INCLUDING LC OPENING CHARGES, COMMISSION IN LIEU REIMBURSEMENT CHARGES, AGENT FEE ARE FOR ACCOUNT OF APPLICANT.

Work Order or Purchase Order format of Manufacturing company

Pre-Cost Format, Work Order or Purchase Order format

Work Order or Purchase Order format of Manufacturing company is very important to give an order to seller or service holder. It is also very important to maintain smooth commercial operation. The format not only is maintain within the manufacturing company also have maintaining any other enterprise or group of company, The below standard and smart format is describe your reference.

The work order is essential for every order confirm between buyer and seller. Here with the purchase order (PO) sheet are included few terms and condition. Which is maintaining when the order finally executed. The terms and condition are below-

TERMS & CONDITIONS: 
I)QUALITY SHOULD BE EXACTLY AS PER APPROVE SAMPLE
II)GOODS MUST BE DELIVERED ON MENTIONED DELIVERED DATE
III)GOODS NOT DELIVERED AS PER THE SPECIFICATIONS APPROVED BY BUYER MUST BE TAKEN BACK AND REPLACED IMMEDIATELY AT YOUR COST.
IV)IF GOODS HAS NOT BEEN DELIVERED WITHIN THE ABOVE MENTIONED DATE THEN 10% WILL BE DEDUCTED FROM THE TOTAL VALUE
V)WE WILL ALLOW MAX REJECTION%
VI)ANY DELAY UNWANTED ISSUE YOU HAVE TO BEAR THE COST
VII)PAYMENT BY LC, TRANSPORTATION BY ROAD, PARTIAL SHIPMENT ALLOWED.
VIII)MUST PROVIDE PRE-INSPECTION REPORT BEFORE DELI VAR THE GOODS
Work Order Terms and Condition


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