Accounting of Job Costing
1.Unique Job Account
Each work is assigned a unique code and all expenditure are charged to that job.
2.Job under Process
Job under process is maintained in work in progress ledger with a unique account and all related expenditure to that job is charged to that account.
3.Job Finished
Finished job is transferred to finished Good. The amount transferred to finished good indicate the cost incurred on a job.
4.Sale
Job are transferred to cost of good sold on sale and sale transaction is also entered in books of account.
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