Calculation of cost of production
This query is : Resolved
12 June 2013
sir,for calculation of cost of production whether depreciation will be added in cost of production or not?
please clarify because i have to make valuation of closing stock of finished goods
please clarify because i have to make valuation of closing stock of finished goods
Rupesh Jain
(Expert)
12 June 2013
cost of production as per cost accounting will be added
but as per AS-2
valuation of goods as the rate to present locatoin, position all exp will be added
but as per AS-2
valuation of goods as the rate to present locatoin, position all exp will be added
CA Kapil Verma
(Expert)
12 June 2013
no depreciation on fixed assets will not added to valuation of closing stock
CMA Ramesh Krishnan
(Expert)
12 June 2013
Depreciation is not forming part of Cost of production.
14 June 2013
sir valuation of stock of finished goods is made on cost or market price whichover is less.for calculation of cost of production depreciation will be added to cost of production or not ?
14 June 2013
sir valuation of stock of finished goods is made on cost or market price whichover is less.for calculation of cost of production depreciation will be added to cost of production or not ?
CMA Ramesh Krishnan
(Expert)
14 June 2013
On valuation of finished goods depreciation will not form part of cost of stock. refer the AS-2
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