Hi Expers,
I am new to Production Costing, I want to know how we can bifurcate the cost of Finished Goods?
For example:
Production Order for Item FG-001 = 10 Qty
Material Consumed =
RM-01 = 20 Qty
RM-02 = 10 Qty
Labour / Rout Card=
Operation 1 = 5 hours
Operation 2 = 2 hours
Report as Finished = FG-001 = 6 Qty
I can see the cost (Estimated) on the Finished product (as Production Order is not yet ended).
Now we want to know the portion of Material and labour consumed for this finished product (i.e. 6 Qty).
How do get these details?
At the end We want to prepare one report with Total WIP - Consumed WIP = Remaining WIP with the bifurcation of Material & Other Cost.
Thanks,