Multiple Inventory Overheads
Hi
I have a below requirement
Standard Costing
Item = Item A
Item Cost = (in $)
FOB = 15
Clearance = 1
Duties = 1
Transportation = 1
Container Cost = 1
I have created each cost elements as material overhead sub element and provided one absorption account to each of it.
PO Price = 10
Now when i recieve this item below accounting entries occurs
Can i distribute the cost i.e. 4 (Overhead) to different Inventory overhead accounts and get track of the same?
I have a below requirement
Standard Costing
Item = Item A
Item Cost = (in $)
FOB = 15
Clearance = 1
Duties = 1
Transportation = 1
Container Cost = 1
I have created each cost elements as material overhead sub element and provided one absorption account to each of it.
PO Price = 10
Now when i recieve this item below accounting entries occurs
| 15 | Inv valuation | dr Material |
| 4 | Inv valuation | dr Overhead |
| -10 | Receiving Inspection | cr |
| -5 | Purchase price variance or rate variance | cr |
| -1 | Overhead absorption | cr |
| -1 | Overhead absorption | cr |
| -1 | Overhead absorption | cr |
| -1 | Overhead absorption | cr |
Can i distribute the cost i.e. 4 (Overhead) to different Inventory overhead accounts and get track of the same?
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