×
INTELLIGENT WORK FORUMS
FOR COMPUTER PROFESSIONALS

Contact US

Log In

Come Join Us!

Are you a
Computer / IT professional?
Join Tek-Tips Forums!
  • Talk With Other Members
  • Be Notified Of Responses
    To Your Posts
  • Keyword Search
  • One-Click Access To Your
    Favorite Forums
  • Automated Signatures
    On Your Posts
  • Best Of All, It's Free!

*Tek-Tips's functionality depends on members receiving e-mail. By joining you are opting in to receive e-mail.

Posting Guidelines

Promoting, selling, recruiting, coursework and thesis posting is forbidden.

Students Click Here

Inventory Costing and impact on P&L

Inventory Costing and impact on P&L

Inventory Costing and impact on P&L

(OP)
For cost accounting in a manufacture environment, how do I book or record the indirect COGS items such as my current month Overhead or Factory Burden since these have been applied in the cost of the finished goods.  Presently these are showing on my P&L and bumping my total COGS to be at 70% rather than the average at 50% as the indirect COGS is at 20%.  

FYI: I do use BOM and WO and Raw materials, labor and applied OH are included.  

Please help!  

Thank you.

RE: Inventory Costing and impact on P&L

(OP)
Dear Dawn,

This problem only shows when I view at the P&L... on the gross margin report, COGS is correct at 50%... so the question is when I enter Vendor invoices and General JE, I am coding my expenses to hit the indirect COGS which add up to be 20%... as result my total COGS is now at 70% on the P&L but my Finished Goods from IM and SO still have a margin at 50%.  So when you say operations code, are you referring to the WO or BOM?  

Please advise.

Thanks.

Red Flag This Post

Please let us know here why this post is inappropriate. Reasons such as off-topic, duplicates, flames, illegal, vulgar, or students posting their homework.

Red Flag Submitted

Thank you for helping keep Tek-Tips Forums free from inappropriate posts.
The Tek-Tips staff will check this out and take appropriate action.

Reply To This Thread

Posting in the Tek-Tips forums is a member-only feature.

Click Here to join Tek-Tips and talk with other members! Already a Member? Login


Close Box

Join Tek-Tips® Today!

Join your peers on the Internet's largest technical computer professional community.
It's easy to join and it's free.

Here's Why Members Love Tek-Tips Forums:

Register now while it's still free!

Already a member? Close this window and log in.

Join Us             Close