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Cancelled Work Order -WIP Variance

in Costing 2 comments

Summary:

Cancelled Work Order -WIP Variance

Content (please ensure you mask any confidential information):

Customer is using Periodic average costing (PAC). Sep-2024 period is closed and Final accounted (accounting posted to GL).

There was a work order (WO) created in Sep-24, which was not used for actual production. User cancelled that WO and closed it. However, user missed to reverse the material issued to the WO (material issued wrongly). Material should have been reversed (to inventory) in Sep-24 period, before cancelling and closing the WO. Actually, this material was not used in production.

Amount (equivalent to the material value) was shown in WIP variance after WO close and there was less quantity in the on-hand (quantity mismatch in Oracle system compared to physical quantity).

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