Required accounts ledger
This query is : Resolved
27 December 2018
Dear sir.
Our company purchases raw material from supplier. In that invoice the supplier mention insurance cost which shows separately from the basic material cost . my questions is the insurance cost should be treated as direct or indirect cost.
Please tell the accounting head and journal entries.
Our company purchases raw material from supplier. In that invoice the supplier mention insurance cost which shows separately from the basic material cost . my questions is the insurance cost should be treated as direct or indirect cost.
Please tell the accounting head and journal entries.
CA R SEETHARAMAN
(Expert)
27 December 2018
Such insurance cost should be treated as direct cost treat it as part of material cost
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