Sign Up for Discounts
This form does not yet contain any fields.
    Follow us on Facebook
    Controller Library Value Pack
    CFO Library Value Pack
    Accounting Standards Library
    Tuesday
    Oct192010

    What is a job cost sheet?

    A job cost sheet is a compilation of the actual costs of a job. This is typically formatted and distributed for consumption by the management team, to see if a job was correctly bid.

    The actual costs of a job typically include the following items:

    A job cost sheet can be quite complex to create, since it may involve different labor rates for dozens of people, as well as a labor allocation for the payroll taxes and benefits incurred by those people, and overtime, plus potentially hundreds of components that should include the cost of shipping and handling.

    Depending upon the format of the job cost sheet, it may also include subtotals of costs for direct materials, direct labor, and allocated overhead.

    The job cost sheet also computes the final profit or loss on the job by subtracting all of the compiled costs from a total of all billings to the customer.

    The job cost sheet is most commonly developed using an electronic spreadsheet, based on a standard template that includes a number of standard items, so that the cost accountant is reminded to include them. Software packages are available that perform this task, and which automatically populate some fields in the compilation.

    Similar Terms

    A job cost sheet is also known as a cost sheet.

    Related Questions

    What is cost accounting?
    What is job costing?

    PrintView Printer Friendly Version

    EmailEmail Article to Friend

    Reader Comments

    There are no comments for this journal entry. To create a new comment, use the form below.
    Editor Permission Required
    You must have editing permission for this entry in order to post comments.