labor transactionsi wages paid in cashii wages
Labor Transactions
(i) Wages Paid in cash
(ii) Wages incurred like
a) Direct labor or else
b) Indirect labor
In the Financial Books
In the Costing Books
i. Wages Paid in Cash
Dr Wages a/c
Dr Wages Control a/c
Cr Cash a/c
Cr General Ledger Adjustment a/c
ii. Wages Incurred as direct labour
Not recorded in Financial Books
Dr. W.I.P a/c
Cr. Wages Control
Dr. Production Overheads Control a/c
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link between financial and cost booksthe link among the two sets of books is achieved via operating a cost ledger control account and a financial
materials transactioni purchase of materials on creditii return of materials to suppliersiii purchase of materials in cashthe above transactions
labor transactionsi wages paid in cashii wages incurred likea direct labor or elseb indirect labor in the financial books in the costing
governmento medicare medicaid s-chip and the va the government uses money generated from taxes to reimburse providers who take care of patients
will the pricing and product policy of a multinational firm be different in a developed and an underdeveloped countryjustify your
a paper mill prodecs two grades of paper viz x and y because of raw material restrictions it cannot produce more than 400 tons of grade x paper and
a toy manufacturer develops a formula to determine the demand for its product depending on the price in dollars the formula is where p is the price
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