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Accounting for materials-Material inventory account

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA MA – FIA FMA › Accounting for materials-Material inventory account

  • This topic has 1 reply, 2 voices, and was last updated 10 years ago by John Moffat.
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  • March 26, 2015 at 4:20 am #238890
    Molly Sum
    Participant
    • Topics: 39
    • Replies: 53
    • ☆☆

    I would like to asked material inventory account is used to record the movements of materials, the following entries are correct ?

    indirect materials issue to production :
    dr.Production overheads account
    cr.material control account

    thank you

    March 26, 2015 at 7:37 am #238926
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54755
    • ☆☆☆☆☆

    Yes – that is correct.

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