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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
I need an example for Lilo,Fifo, and weighted average method for a year. Jan.begining inventory, purchases in Feb., April, July, October, and November. Can you help me with this?
Semi Fixed Costs Are costs along with both a variable and fixed cost component? The fixed component is such portion that is constant irrespective of the level of activity. The
The text states that four conditions are necessary for the existence of a perfectly competitive market. Discuss in your own words each one. a) Numerous participants: Roughly
The following standard costs were developed for one of the products of Ferrars Company: Standard Cost Card Per Unit Materials: 4 feet x $14.25 per foot $ 57.00 Direct labor: 8 hour
Question PART A A company manufactures a single product and the data concerning the product is as follows: - Sales price of $10 - Marginal cost of $6. - Fixed
what is inventory turnover
Important Points Regarding to the Variance Analysis Variance reporting concentrates on both with favourable and unfavourable variances. Normally unfavourable variances are pun
Calculate the equal monthly payments and the cost of financing on a 10-year mortgage. The cash value of the house today is $500,000. You are paying monthly at a fixed rate of 6% pe
Special order pricing - Shorewood Shoes Company makes and sells a variety of leather shoes for children. For its current mix of different models and seizes, the average selling pri
In most situations this will be essential to grant credit to customers. It may be essential either due to competition or because of the custom of trade. Though, when we grant credi
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