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 Cost Accounting  |  Question 20 of 33    Print  
I transfer 20 Kg of Raw Material to WIP, but there will be weight loss incurred during the production periods.

Is this double entry correct?

Dr : WIP (18 Kg)--------------------S$20
Cr : Raw Material (20Kg)-----------S$20

If yes what will the double entry to capture the 2Kg weight loss?

Thanks,
Denny

  
Total Answers and Comments: 1 Last Update: June 13, 2008     Asked by: dennykk 
  
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June 13, 2008 02:47:03   #1  
carajeshsingh Member Since: June 2008   Contribution: 1    

RE: I transfer 20 Kg of Raw Material to WIP, but there will be weight loss incurred during the production periods.Is this double entry correct?Dr : WIP (18 Kg)--------------------S$20Cr : Raw Material (20Kg)-----------S$20If yes what will the double entry

no.journal entry shall be passed to capture 2 k.g. weigt loss. finished product shaal automatically cover cost of 2 k.g. loss of material is normal wastage.


 
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I transfer 20 Kg of Raw Material to WIP, but there will be weight loss incurred during the production periods.Is this double entry correct?Dr : WIP (18 Kg)--------------------S$20Cr : Raw Material (20Kg)-----------S$20If yes what will the double entry to capture the 2Kg weight loss?Thanks,Denny
Read Answers (1) | Asked by : dennykk


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