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
We have noticed that working capital is needed to finance that portion of current assets that is not financed through current liabilities. We also noticed that the investments repr

Job Costing This is a costing method that is applied when a job or cost unit is relatively of small size, is undertaken to fit the customer's specifications and is of compara

Determine the additional cash a company could obtain from its working capital accounts if it can improve its average collection period by three days and inventory turnover by 0.5 t

Savage Distribution markets CDs of performing artist Little Sister.  At the beginning of October, Savage had in beginning inventory 1,200 Little Sister's CDs with a unit cost of $5

The total demand (marginal benefit) curve for visiting Yosemite is as follows: Price = 5000-10*NumberOfTrips -10*TonsOfVisibleTrash. a. Suppose the quantity of trash=100 tons. D

Accounting Records - Nature and Purpose of Cost Accounting The quantitative information employed in the management and cost accounting systems can be obtained from with two ac

Relationship among variances We cannot over emphasize the central aim of variance analysis as outlined in the above paragraphs:  that is to assign responsibility for a particu

What type of activity could a company engage in to improve their cash flows in their Cash Flows Statement? Is this ethical? Could borrowing money make the cash from operations be

Cost Classifications and Estimation Cost classification may be defined like 'the arrangement of cost items in a logical sequence having concern to their nature and reason to b

We've all experienced (or heard about) the challenges that the airlines have been facing. Read the Zacks Investment Research article, "Airline Industry Stock Outlook - August 2012"