Term report

Cost accounting

Group members: shahzeb

saleem ,ahmas saif ,
muasab ,m.danish, waqas
jehangir , Hassan ahmed
Submitted to : sir Muhammad
faisal majid

INTRODUCTION
Spring manufacturers
Founded at 1995
Situated at shershah Karachi
Mr.muhammad saleem is the owner

Number of employees:
5
Number of clients:
7

System:
Previous: Lifo
Current : Fifo

Method:
Hybrid costing
Perpetual system

Payment:
Weekly basis
9 to 5 timings

Foh:
Electricity
Maintenance
Skilled Labor

Expense:

Salary
Money out of pocket(bhatta)
Monthly and annually

Material:
Locally purchased
Wire rope

Normal loss:
Adjusted by selling to scrap

Process:
Cutter
Pipe
Straightening machine
Spring
Grinder

Inventory:
Count on weight basis (tons)
Conclusion:
Limited company which manufactures
spring for sofa and mattress