Page 95 - Auditinf Electronic System

b) Vendor’s invoice: is a document received from the vendor and shows the
amount owed for an acquisition

3. Store the raw material:

Once received, materials are normally stored in a stockroom. To update the
inventory master files and record transfers from raw materials to work-in
process accounts

a) Raw material master file
4. Process the Goods:

Actually, start the manufacturing process on raw materials, and compute cost
of inventory material, labor, and overhead costs by job or process as those costs
are incurred.

a) WIP master file:

b) Cost accounting records consist of master files, that accumulate material,
labor, and overhead costs by job or process as those costs are incurred.

5. Store Finished Goods:

When completed, the related costs are transferred from work-in-process to
finished goods based on production department reports. and finished goods are
placed in the stockroom to await shipment., kept under physical control in a
separate, limited-access area.

a) Finished Goods master file

b) Cost accounting records: Finished goods costs include raw materials, direct
labor, and manufacturing overhead, which often requires allocations and
detailed record keeping.

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‫جميع الحقوق محفوظة ـ الإعتداء على حق المؤلف بالنسخ أو الطباعة يعرض فاعله للمسائلة القانونية‬