Labor Transactions

(i) Wages Paid in cash

(ii) Wages incurred like

a) Direct labor or else

b) Indirect labor

In the Financial Books	In the Costing Books
i. Wages Paid in Cash
Dr Wages a/c	Dr Wages Control a/c
Cr Cash a/c	Cr General Ledger Adjustment a/c
ii. Wages Incurred as direct labour
Not recorded in Financial Books	Dr. W.I.P a/c
	Cr. Wages Control
	Dr. Production Overheads Control a/c

 

Posted Date: 2/5/2013 8:14:47 AM | Location : United States

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