Section 17 in The Cost Accounting Records (Mining and Metallurgy) Rules, 2001
17. Cost Statements:
(1)The cost statement showing details of installed capacity, production, wastage, issues and sales and all elements of cost of the current financial year and the previous year shall be prepared for each process adopted in the production of products under reference in Proformae A,B,C,D,E and F.(2)The product emerging from a process, which forms raw material for a subsequent process, shall be valued at the cost of production up to the previous stage.(3)If the company is operating more than one plant or factory, separate cost statements as specified above shall be prepared in respect of each plant or factory.
