Manufacturing cost determination standard defines cost components, exclusions, and measurement rules for excisable goods. CAS-22 prescribes the principles and methods for determining the manufacturing cost of excisable goods, with the objective of uniform and consistent classification, measurement, assignment, presentation and disclosure in cost statements. It requires separate measurement for each excisable good and covers materials, employee cost, utilities, packing, direct expenses, repairs and maintenance, quality control, research and development, depreciation and amortisation, manufacturing overheads, work-in-process adjustments and recoveries from scrap and wastage. The standard also defines key terms and excludes post-manufacturing expenses, abnormal cost and finance cost.
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Provisions expressly mentioned in the judgment/order text.
Manufacturing cost determination standard defines cost components, exclusions, and measurement rules for excisable goods.
CAS-22 prescribes the principles and methods for determining the manufacturing cost of excisable goods, with the objective of uniform and consistent classification, measurement, assignment, presentation and disclosure in cost statements. It requires separate measurement for each excisable good and covers materials, employee cost, utilities, packing, direct expenses, repairs and maintenance, quality control, research and development, depreciation and amortisation, manufacturing overheads, work-in-process adjustments and recoveries from scrap and wastage. The standard also defines key terms and excludes post-manufacturing expenses, abnormal cost and finance cost.
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