Transcription of Accounting for Materials
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Thomson LearningTM49 Accounting for MaterialsLEARNINGOBJECTIVESA fter studying this chapter, you should be able to:1. Recognize the two basic aspects of Materials Specify internal control procedures for Account for Materials and relate Materials Accounting to the general Account for scrap Materials , spoiled goods, and defective Account for inventories in a just-in-time total inventory cost of a finished product consists of the expendituresmade for raw Materials , direct labor, and its fair share of factory principles and procedures for controlling and Accounting for these costelements are discussed in Chapters 2, 3, and 4.
Jan 03, 2002 · fax) charges, software for electronic ordering, and postage and stationery. 3. Materials accounting and record keeping. A variety of factors must be considered in determining carrying costs: 1. Materials storage and handling costs. 2. Interest, insurance, and property taxes on the inventory investment. 3. Loss due to theft, deterioration, or ...
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