hi,
say to produce output of quantity 5 and finished goods price at $10.
1 25 Oct, goods issued to production order.
2 31 Oct, GR quantity of 3.
3 Month end routine to calculate WIP and during settlement,
dr wip of 20 and cr revenue 20
4 5 Nov, GR quantity of another 2. now completedly produced.
5 30 Nov month end routine to calculate WIP (no more WIP) and during settlement,
reverse of quantity 2 x $10
dr revenue 20 and cr wip of 20
Above correct?
thanks