Accounting Treatment
This query is : Resolved
17 December 2010
In case of the Integrated system of accounting, how the following shall be treated, following the standard costing:
Suppose at the time of setting up the standards we have taken 100 kg of material say "A" purchased @ 30 per kg. But at the time of actual purchase we purchase 90 kg of material "A" @ 28 per unit and @ "32" Per kg. so how the accounting treatment shall be done.
Suppose at the time of setting up the standards we have taken 100 kg of material say "A" purchased @ 30 per kg. But at the time of actual purchase we purchase 90 kg of material "A" @ 28 per unit and @ "32" Per kg. so how the accounting treatment shall be done.
17 December 2010
Standard costing is only analysis and controlling method, not for accounting method, so you need to account the actual incurred
18 December 2010
Actual this question was asked to me in an interview, and as i didn't know much about the integrated system of accounts..practically...so got confused, by the way.....thnk u very much sir
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- Reopen of assessment proceeding
- Depreciation of fixed assets- coop housing society in mumbai
- Is any professional CA is here please reply
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EPF FULL & FINAL RULES IN 2026
- Experts need help
- Putting a heading on received mail
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
