PRODUCT COST ACCOUNTING ENTRIES FLOW (FI-PP)

Many People are searching for accounting entry flow for PRODUCT COSTING, which are below:

1) MATERIAL RECEIVE AGAINST PURCHASE ORDER (RM)

 

GL A/c	GL Description	DR/CR
2301101	RM STOCK	DR.
1991001	GR/IR A/C	CR.

2) MATERIAL ISSUE, (CONSUMPTION) RM

GL A/c

GL Description

DR/CR

4001101	STOCK CONS	DR
2301101	RM STOCK	CR

3) ACTIVITY

MACH HR ALLO ACTIVIT          1125     DR.

LAB HR ALLO ACTIVITY           967.50  DR.

OTHR OH ALLO ACT TYP          1260.00 DR.

DIESEL                                           364.50   DR.

                COST CENTRE                 3717.00 CR

4) GOODS RECEIPT FOR PRODUCTION (WE)

GL A/c

GL Description

DR/CR

2302002     F.G. MATERIAL                      DR.

4111000     CHG IN INV.PROC.ORD.      CR.

4031000     PRICE DIFFERENCE            DR/CR.

5) GOODS ISSUE FOR PRODUCTION OREDRE (WA)

GL A/c

GL Description

DR/CR

4002002      CON F.G. MATERI          DR

2302002       F.G. MATERIAL              CR

6) DURING DISPATCH OR DELIVERY

     COGS A/C                                       DR

     INVENTORY                                   CR

7) DURING SALE

    CUSTOMER                                    DR

     SALES                                             CR