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Former Member
Nov 28, 2008 at 11:30 AM

consumption

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Hi,

1) may i know what is the difference for consumption of raw mats account and cogs produced account?

2) the total cogs for the finish goods is the total cost from these 2 account?

When the Goods are issued to the Production Order the following transactions takes place:

Consumption of Raw Materials - Dr

Stock A/c - Cr

When the Goods are received from the Production Order the following transactions takes place:

Inventory A/c - Dr

Cost of Goods Produced - Cr

thanks