Accounting for job order costing - direct materials, Cost Accounting

Accounting for Job Order Costing - Direct Materials

Direct materials

(i) Dr Stores ledger control Account Cr Cash Account - for cash purchasers              X

(ii) Dr Stores ledger control Account Cr Creditors Account - for credit purchasers      X

(b)  Return of materials to suppliers

 Dr   Cash Account or creditors control Account                                                        X       

 Cr   Stores ledger control Account                                                                               X

(c)  Issue of materials from the store

Dr - W.I.P. Control Account                                                                                  X

Cr   stores ledger control Account for direct materials.                                                    X

 Indirect materials:  Dr   Factory overheads control Account                                    X

Cr   Stores ledger control Account                                                                                 X

Posted Date: 2/7/2013 2:11:09 AM | Location : United States







Related Discussions:- Accounting for job order costing - direct materials, Assignment Help, Ask Question on Accounting for job order costing - direct materials, Get Answer, Expert's Help, Accounting for job order costing - direct materials Discussions

Write discussion on Accounting for job order costing - direct materials
Your posts are moderated
Related Questions
What are the four elements of the budgeting cycle?

what is the equivalent unit for materials? if the cost of normal lots units are absorbed by the units transferred out to the next department the work in process- beginning (60% com

Difference between budgetary planning and budgetary control

A company has an authorized share capital of 250 million divided into 1,500,000 ordinary shares of sh.100 each and 1,000,000 preference shares of sh.100 each. 1,000,000 ordinary sh


Find Out the Cost per Unit Material A is added at the start of a production process. Overheads and Labor are added continuously throughout the production process. At the endi

During his career in the energy industry, T-Bone McAdams has accumulated $5,000,000 in "surplus savings" that he is planning to donate to his college alma mater, Oklahoma A&M, in

M aterials mix variance :  It can be described as that portion of direct material usage variance which is the variation between the actual quantities of ingredients used in a mi

Using  labour  cost  as  the  focus,  discuss  the  differences  in  the measurement  of  labour efficiency / effectiveness where (i)  total quality management techniques and (ii)

INSURANCE Trustees may insure trust property against loss or damage by fire subject to the following conditions:   1. The insurance must not exceed the full value of the proper