sir,
Any one tell me the manufacturing entries once the materials are issued to plant and come out as finished goods.
satya
ch Satyanarayana (Manager(EDP)) (24 Points)
05 July 2012sir,
Any one tell me the manufacturing entries once the materials are issued to plant and come out as finished goods.
satya
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 05 July 2012
the materials that is purchased whihc is being used for manufacture of a finished product whould be transferred to WIP if the raw materuials are not being converted into finished goods as of March 31st. however if the raw materials are being converted into finished goods before 31st MArch then they will be transferred to Finished Stock.
Brajesh gautam
(student)
(232 Points)
Replied 05 August 2012
Hi can anybody suggest the journal entries
vijay
(Accountant)
(28 Points)
Replied 22 September 2012
The Mfg Journal entry will be
Finished Goods A/c Dr.
To Raw Material A/c
Bhaskar Unnikrishnan CPA CMA
(Accounts / Administration)
(414 Points)
Replied 23 September 2012
When Material issued to Process:
(Debit) WIP a/c
(Credit) Materials
Charging OH
(Debit) WIP A/c
(Credit) Manufacturing OH
For Finished Products:
(Debit) Finished Good A/c
(Credit) WIP
On Sale:
(Debit) CGS A/c
(Credit) Finished Goods
(Debit) Cash/Party
(Credit) Sales
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