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
Critical Thinking about Cost Flow It is simple to overlook an important aspect of cost flow within a manufacturing operation. If you see that have taken note of an important co

A process in the industry where a wholesaler needs an amount that is the difference among the manufacturer's price to the wholesaler and the contract price to the resale customer.

Dolphin Company uses special strapping equipment in its packaging business. The equipment was purchased in January 2013 for $8,000,000 and had an estimated useful life of 8 years w

Advantages and Disadvantages of Uniform Costing Advantages 1. It enables costs to be compared simply 2. It makes it easier to computerize the accounting system of d

This question tested their knowledge of intended reporting but more importantly requisite them to apply their knowledge and consider the impact from the investors' perspective.

Advantage and Disadvantages of Zero Based Budgeting Advantages 1. Resources allocation is more efficient. 2. Focus attention on values for money and makes clear relat

Variable Overhead Variance (VOHV) VOHV is defined by ICMA, London, as 'the variation between the standard variable production overhead absorbed in the production achieved, whet

What do you mean by differential costing ? How it differ from marginal costing ? explain its practical application with examples?

Distinguish between,     (i)  short-run variable costs & long-run variable costs, and give an example of each one;   (ii)  the marginal cost &  the average cost of production