Manufacturing module doubt
The Business Scenario is as follows
The Client would like to add the cost of Labor to the cost of Production
The Client also uses Payroll
So they create a Labor cost as a Resource and charge per hour rate basis
Hence the accounting entry is as follows
Dr Resource Account (From WIP Accounting Class)
Cr Resource Absorption Account (Resource form)
When they make Salary Payment from Payroll it generates the following entry
Dr Salary Account (From Payroll Elements)
cr Salary Payable A/c
In this scenario both resource absorption and Salary Payable both lying as the credit
How do we knock of the entries to make the single Payment either using
The Client would like to add the cost of Labor to the cost of Production
The Client also uses Payroll
So they create a Labor cost as a Resource and charge per hour rate basis
Hence the accounting entry is as follows
Dr Resource Account (From WIP Accounting Class)
Cr Resource Absorption Account (Resource form)
When they make Salary Payment from Payroll it generates the following entry
Dr Salary Account (From Payroll Elements)
cr Salary Payable A/c
In this scenario both resource absorption and Salary Payable both lying as the credit
How do we knock of the entries to make the single Payment either using
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