ACCA知识点材料成本控制.docVIP

ACCA知识点：材料成本控制? 本文由高顿ACCA整理发布，转载请注明出处 　　Accounting for material costs Example:material control account 　　Bossy Co manafactures a single product and has the following transactions for material during a particular period: 1 Raw materials of $500,000 were purchased on credit from a supplier Timid Co . 2 Raw materials costing $10,000 were returned to the same supplier due to defects. 3 The total stores requisitions for direct material for the period were $40,000. 4 Total issues for indirect materials during the period were $15,000. 5 $5,000 of unused material was returned to stores from production. 　　Required 　　Prepare the material control account for the period,showing clearly how each transaction is treated. 　　Solution 　　Note on transactions: 1 All raw material purchases are entered into the material control account as a debit entry-the corresponding credit goes to the payables control account. 2 Any returns of material are treated in the opposite way to purchases of material. 3 Direct material is directly related to production,The material control account will be reduced credited by the amount of material being issued.On-going production is represented by a Work in Progress account in the ledger system. 4 Indirect materials are not directly related to production so will not affect the Work in Progress account,Such materials are classed as factory overheads and will therefore be entered into a Factory Overheads account. 5 The unused material returned to stores inventory will increase materials inventory and will therefore be a debit entry in the material control account.As it is being returned from production,the corresponding credit entry will be in the Work in Progress account. 　　MATERIAL CONTROL ACCOUNT 　　$ $ 1 Payables control account ? ?500,000 2 Payables control account 10,000 2 Work in Progress account 5,000 3 Work in Progress account ? ?400,000 4 Factory Overheads account ? ?15,000 　　Closing inventory bal.figure ?80,000 　　505,000 505,000 高顿财经ACCA