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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: | 10000 | Pcs |
| FOB | $ 5.00 | Pcs |
| FOB | $ 50,000 | |
| Materials | 60% | On FOB |
| FOH | 26.50% | On FOB |
| SOH | 3.50% | On FOB |
| Profit | 10% | On FOB |
| Actual Cost: | ||
| Materials Cost | $ 30,000 | |
| FOH | $ 13,250 | |
| SOH | $ 1,750 | |
| Profit | $ 5,000 | |
| Target Oriented Report | Actual Report | |||||||||
| Month Jan-18 | Month Jan-18 | |||||||||
| Sales | 2500 | Pcs | $ 12,500.00 | Sales | 2500 | Pcs | $ 12,500.00 | |||
| Less: | ||||||||||
| Materials Cost | 60.00% | $ 7,500.00 | Materials Cost | 60.00% | $ 7,500.00 | |||||
| FOH | 26.50% | $ 3,312.50 | FOH | 26.50% | $ 3,312.50 | |||||
| SOH | 3.50% | $ 437.50 | SOH | 3.50% | $ 437.50 | |||||
| Profit | 10.00% | $ 1,250.00 | Profit | 10.00% | $ 1,250.00 | |||||
| Month Feb-18 | Month Feb-18 | |||||||||
| Sales | 3000 | Pcs | $ 15,000.00 | Sales | 3000 | Pcs | $ 15,000.00 | |||
| Less: | ||||||||||
| Materials Cost | 60.00% | $ 9,000.00 | Materials Cost | 60.00% | $ 9,000.00 | |||||
| FOH | 26.50% | $ 3,975.00 | FOH | 26.50% | $ 3,975.00 | |||||
| SOH | 3.50% | $ 525.00 | SOH | 3.50% | $ 525.00 | |||||
| Profit | 10.00% | $ 1,500.00 | Profit | 10.00% | $ 1,500.00 | |||||
| Month Mar-18 | Month Mar-18 | |||||||||
| Sales | 4000 | Pcs | $ 20,000.00 | Sales | 4000 | Pcs | $ 20,000.00 | |||
| Less: | ||||||||||
| Materials Cost | 60.00% | $ 12,000.00 | Materials Cost | 60.00% | $ 13,500.00 | |||||
| FOH | 26.50% | $ 5,300.00 | FOH | 26.50% | $ 5,962.50 | |||||
| SOH | 3.50% | $ 700.00 | SOH | 3.50% | $ 787.50 | |||||
| Profit | 10.00% | $ 2,000.00 | Profit | 10.00% | $ (250.00) | |||||
| Target Oriented Report | Actual Report | |||||||||
| FOB | $ 47,500.00 | FOB | $ 47,500.00 | |||||||
| Materials | 60.00% | $ 28,500.00 | Materials | 63.16% | $ 30,000.00 | |||||
| FOH | 26.50% | $ 12,587.50 | FOH | 27.89% | $ 13,250.00 | |||||
| SOH | 3.50% | $ 1,662.50 | SOH | 3.68% | $ 1,750.00 | |||||
| Profit | 10.00% | $ 4,750.00 | Profit | 5.26% | $ 2,500.00 |
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