Cost accounting accounting entries, how to do accounting entries for costs

Your entries are written correctly, but the cost settlement method is different according to the situation of each company, for example, the factory is to put in materials at the beginning of each month, and all the production will be completed at the end of the month, then it should be like this to carry forward the cost every month, but if it takes 3 months to complete a batch of materials, then there is no need to carry forward the cost at the end of the first two months, and at the end of the third month, the cost and income expense can be carried forward.

1) Income of 1 million is recorded (increase in debit on the balance sheet).

Borrow: Bank deposit.

Credit: main business income.

2) Carry forward the cost of 700,000 (reduced balance sheet debit).

Borrow: production costs.

Credit: Inventory. Borrow: Cost of main business.

Credit: Production costs.

3) Carry-forward profit for the year (increase in balance sheet credit equity).

Borrow: main business income.

Credit: Profit for the year.

Borrow: Profit for the current year.

Credit: Cost of Principal Operations.

Borrow: Profit for the current year.

30 (100-70) (Balance of current year's profit is credited) Credit: Profit distribution - undistributed profit.

4) Closing balance sheet.

Balance Sheet (Credit) =

400 (total liabilities) +

600 (Owner's Equity)+

30 (undistributed profit) = 1030

Balance Sheet (Debit) =

1000 (Opening Balance) +

100 (bank deposit) -

70 (stock) =

Equity does not add 1 million (bank), or 1000, but plus 30 undistributed profits, isn't it equal on both sides? I didn't subtract it!

1. Collect and borrow: production costs Material and labor expenses Credit: raw materials (wages payable, manufacturing expenses).

2. Distribution, borrowing: inventory goods Credit: production costs, materials and labor costs.

3. Carry-forward, borrow: cost of main business Credit: inventory goods.

Extended information: 1. Principles of making accounting entries? Why do you need to make accounting entries?

The principle of making accounting entries is to prepare accounting entries through accounting vouchers, which can clearly reflect the classification of economic operations, which is conducive to ensuring the correctness of account records and facilitating subsequent inspections.

It is composed of three elements: the direction of debit and credit, the name of the corresponding account (account) and the amount to be credited. According to the number of accounts involved, it is divided into simple accounting entries and compound accounting entries.

Simple accounting entries refer to accounting entries that only involve the debit side of one account and the credit side of another account, i.e., the accounting entries of one debit and one credit; Compound accounting entries refer to accounting entries composed of two or more corresponding accounts (excluding two), i.e., accounting entries for one loan for multiple loans, one loan for multiple loans, or multiple loans for multiple loans.

2. What are the methods of accounting entries?

Tomography Chromatography refers to a method of solving problems that divides the development process of things into several stages and levels, and analyzes them layer by layer, so as to finally obtain the result. The use of tomography to compile accounting entries is intuitive and clear, and the ideal teaching effect can be obtained, and the steps are as follows:

1. Analyze and list the accounting subjects involved in economic business.

2. Analyze the nature of accounting accounts, such as asset accounts, liability accounts, etc.

3. Analyze the increase and decrease of the amount of each accounting account.

4. According to the steps, the direction of the accounting account is judged in combination with the economic content (increase or decrease) reflected by the borrower and borrower of various accounts.

5. Prepare accounting entries according to the bookkeeping rules that there must be loans and loans must be equal.

This method is very effective for students to know exactly the accounting subjects involved in the accounting business, and is more suitable for the preparation of individual accounting entries.

Business Chain Method. The so-called business chain method refers to the preparation of accounting entries according to the sequence of accounting transactions, the formation of a continuous business chain, and the existence of a connected relationship between accounting entries before and after business.

This method is more effective for continuous economic business, especially for the direction of bookkeeping that is easy to be mistaken.

Accounting rules method.

The so-called bookkeeping rule method refers to the use of bookkeeping rules "there must be a loan, and the loan must be equal" to prepare accounting entries.

3. When preparing accounting entries, beginners can follow the steps below:

First, the accounts involved, analyze which accounts involved in economic business have changed;

second, the nature of the accounts, the nature of the accounts involved in the analysis, i.e. what accounting elements they belong to, whether they are on the left or right side of the accounting equation;

Third, the increase or decrease of the situation, analysis to determine whether these accounts have increased or decreased, and what is the amount of increase or decrease;

Fourth: the direction of bookkeeping, according to the nature of the account and its increase or decrease changes, determine the debit or credit to the account;

Fifth: Prepare complete accounting entries according to the format requirements of accounting entries.

The accounting entries of the cost are: collect, borrow: production cost - material and labor costs, credit:

raw materials (wages payable, manufacturing expenses); Distribution, borrowing: inventory goods, credit: production cost - material and labor costs; Carryover, borrow:

Cost of Principal Operations, Credit: Inventory Goods.

Accounting entries are also known as "bookkeeping formulas". Abbreviated as "entries". According to the requirements of the principle of double-entry bookkeeping, it is a record that lists the corresponding accounts of both parties and their amounts for each economic transaction.

Before registering accounts, the preparation of accounting entries through accounting vouchers can clearly reflect the classification of economic operations, which is conducive to ensuring the correctness of account records and facilitating post-event inspection. Each accounting entry mainly consists of the accounting symbol, the relevant account name, summary and amount. Beginners can follow these steps when preparing accounting entries:

1. The accounts involved, analyze the changes in which accounts involved in economic business;

2. The nature of the accounts, and the nature of the accounts involved;

3. Analyze and determine whether these accounts are increasing or decreasing, and what is the amount of increase or decrease;

4. The direction of bookkeeping, according to the nature of the account and its increase or decrease changes, determine the debit or credit to the account respectively;

5. Prepare complete accounting entries according to the format requirements of accounting entries.

Accounting voucher is an accounting voucher that the accounting department fills in according to the original voucher, records the brief content of economic business, determines the accounting entries, and serves as the basis for bookkeeping. Accounting vouchers, also known as entry vouchers, also known as accounting vouchers, are a record of determining the account name, bookkeeping direction and amount in accordance with the requirements of the registration books, and are the basis for registering the sub-ledger and the general ledger. The purpose of numbering the accounting vouchers is to distinguish the order of processing of the accounting vouchers, to facilitate the registration of account books and the verification of the accounting vouchers and the records of the account books, to prevent the loss of accounting vouchers, and to facilitate future searching.

One of the methods of accounting voucher numbering is to take all the accounting vouchers in the financial and accounting department as a unified number and compile them as the first number; One is to be numbered according to three categories: cash and bank deposit income, cash and bank deposit payment and transfer business, which are numbered as the first number of receipts, the first number of payment and the first number of transfers.

The method of cost accounting is as follows:

1. Detailed list of materials and parts: direct materials, semi-finished products, and finished products used in the new regulations, remodeled products, and restructured products, which are used to calculate the cost of the current month, debit: production cost (direct materials, direct labor, manufacturing expenses), credit:

Raw materials, semi-finished products, inventory goods.

2. Expense picking schedule: indirect materials, expense picking: auxiliary materials, factory supplies, consumables, etc., debit: manufacturing expenses, credit: raw materials.

3. Direct labor distribution table: the wages of the direct personnel of the production line in the current month are allocated to each work order, and the working hours are summarized according to the work center, and the summarized working hours are used as one of the standards for apportioning the system fee. Debit: Production costs (direct labor), Credit: Wages payable.

4. Manufacturing cost apportionment table: In accordance with the principle of who benefits and who bears, the system cost of the month will be allocated to the work center or product for many times (as long as the ERP system is included in the work center, the system will automatically allocate it to the product).

5. Completion warehousing schedule: the quantity of finished products and semi-finished products completed in the current month, cost (material cost, labor cost, cost of making costs) Debit: inventory goods Semi-finished products, credit: production cost (direct materials, direct labor, manufacturing expenses).

6. Product sales cost statement: statistics of the cost of products sold in the current month (direct materials, direct labor, manufacturing expenses) Debit: main business cost, credit: inventory goods.

7. Work order cost breakdown in progress: Count the material and labor costs in progress at the beginning of the work order, the material and labor costs invested in this month, the material and labor costs produced this month and the material labor costs at the end of the month, and check whether the material and labor costs in the work order are consistent with the general ledger.

8. Cost analysis table of finished products: According to the cost of completed products in the current month, the gross profit of the product is calculated by assuming that all sales in the current month (according to the sales unit price of the current month).

9. Product sales profit and loss statement: calculate the gross profit of various products in the month according to the cost of the products sold in the month.

10. Purchase, consumption and inventory report, production, sales and inventory report: separate material and finished product statistics, check whether the general ledger and the sub-ledger inventory category are consistent.

1. Procurement. Borrow: Raw materials Inventory goods.

Tax Payable – VAT payable (input tax).

Credit: cash on hand bank deposits accounts payable.

2. Material requisition.

Borrow: production costs.

Credit: raw materials.

3. Accrual of wages.

Borrow: Production Costs Manufacturing Expenses.

Credit: Employee Remuneration Payable – Wages.

4. Water and electricity costs, machine material consumption, etc.

Borrow: manufacturing costs.

Credit: Cash, Bank Deposits, Accounts Payable.

5. Provision for depreciation.

Borrow: manufacturing expenses (for workshops).

Management expenses (used by the administration).

Selling expenses (used by the sales department).

Credit: Accumulated depreciation.

6. Sales revenue.

Debit: cash on hand, bank deposits, accounts receivable.

Credit: main business income.

Tax Payable – VAT payable (output tax).

Your entries are written correctly, but the cost settlement method is different according to the situation of each company, for example, the factory is to put in materials at the beginning of each month, and all the production will be completed at the end of the month, then it should be like this to carry forward the cost every month, but if it takes 3 months to complete a batch of materials, then there is no need to carry forward the cost at the end of the first two months, and at the end of the third month, the cost and income expense can be carried forward.

Cost accounting refers to the allocation and aggregation of various expenses incurred by enterprises in the process of production and operation according to certain objects to calculate the total cost and unit cost. Cost accounting itself is a process of operation, calculation, aggregation and distribution, and the entries in this process include: 1. Procurement of raw materials, inventory goods, etc., borrow: raw materials inventory goods, taxes payable - VAT payable (input tax), credit:

Cash on hand, bank deposits, accounts payable.

2. Workshop production materials, borrow: production cost, credit: raw materials.

3. Accrue the wages of workshop production personnel and workshop management personnel, borrow: production costs and manufacturing expenses, and credit: wages payable to employees.

4. The collection of data such as water and electricity bills, machine and material consumption, etc., borrow: manufacturing expenses, credit: accounts payable, etc.

5. Accrue the depreciation of the corresponding production equipment, borrow: manufacturing expenses (for workshop), credit: accumulated depreciation.

6. Collect product costs, product warehousing, borrow: inventory goods, credit: production costs, etc.

7. Sales of goods, sales revenue, borrow: cash in hand, bank deposits, accounts receivable, credit: main business income, tax payable - VAT payable (output tax).

8. Carry forward the cost of the goods sold, borrow: the cost of main business, and credit: inventory goods.

When an enterprise sells products with a shortage of products, it should confirm the corresponding income and output tax, and its entries are: debit: accounts receivable, bank deposits, credit: main business income, tax payable - value-added tax payable (output tax).

After the entries of the revenue are recognized, it is necessary to transport and carry forward the corresponding costs of the products sold, debit: main business costs, other business costs, credit: inventory goods, etc.

In the process of operation, enterprises should regularly carry out cost accounting, and accountants generally pass raw materials, production costs and other accounts in the accounting, so how to write the corresponding accounting entries?

Accounting entries for cost accounting.

1. Procurement. Borrow: Raw materials Inventory goods.

Tax Payable – VAT payable (input tax).

Credit: cash on hand bank deposits accounts payable.

2. Material requisition.

Borrow: production costs.

Credit: raw materials.

3. Accrual of wages.

Borrow: Production Costs Manufacturing Expenses.

Credit: Employee Remuneration Payable – Wages.

4. Water and electricity costs, machine material consumption, etc.

Borrow: manufacturing costs.

Credit: cash on hand bank deposits accounts payable.

5. Sales revenue.

Debit: cash on hand, bank deposits, accounts receivable.

Credit: main business income.

Tax Payable – VAT payable (output tax).

6. At the end of the month, carry forward the completed warehousing products.

Borrow: Inventory of goods.

Credit: Production costs.

7. At the end of the month, carry forward the cost of goods sold in this month.

Borrow: Cost of main business.

Credit: Inventory of goods.

Methods of costing.

First, the step-by-step method is also known as the sequential carry-over step-by-step method, which is in accordance with the sequence of continuous processing of products, according to the production steps of the collection of costs, expenses and output records, measure the cost of self-made semi-finished products, and the cost of self-made semi-finished products with the semi-finished products move between the processing steps and a method of sequential carryover.

2. The step-by-step method of parallel carry-over refers to the method that the cost of semi-finished products is not carried forward with the transfer of semi-finished products, but remains in the cost ledger of the step at which step occurs, and the cost is transferred out of the cost ledger of each step of the department until it is finally processed into finished products.

The fundamental difference between the two lies in the fact that the step-by-step method requires each step to calculate the cost of semi-finished products, and the cost of finished products is calculated by the last step, so it is also called the "semi-finished product cost method". The parallel carry-over step-by-step method only calculates the "share" of the production cost that should be credited to the cost of the finished product in this step, and finally summarizes the "share" of the cost of the finished product in each step to calculate the cost of the final finished product.

Therefore, it is also known as the "non-calculation of semi-finished product costing method".