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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
G. Mills was appointed a local agent for the High Power Mobile Workshop Bolt (HPMW-B) on 1 April 2009. The HPMW-B is manufactured by Mobile Equipment Ltd (MEL). The company charges
what is scope of cost accounting
1. Suppose your company needs to raise $30 million and you want to issue 30-year bonds for this purpose. Assume the required return on your bond issue will be 8 percent, and you're
Match the items below by entering the appropriate code letter A. Controller B. Deficit C. Payout Ratio D. Stock Dividend E. Declaration Date F. Preemptive right G. Par Value H. L
what is wip
SOLUTION FOR COST BUDGET ON ANNUAL DAY
Marginal Costing and Marginal Cost Marginal Costing is an optionally method of costing to absorption costing , In marginal costing, merely variable costs are charged like a
. Which of the following is a reason why traditional product costing techniques have become obsolete in a lean operating environment? a. More complex accounting is required in a le
Stopover industries ltd, a recently incorporated company plans to go into production next year. the following standard cost matrix has been assembled for one of the products it pro
Which of the four types of costs would include Direct Labor? A. Unit-Level B. Batch-Level C. Product Sustaining D. None of the above
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