In our foundry unit the end user accidently posted the worng consumption of one raw material in the release production order.
instead of 111 kg he posted 1,29,100 kg. and the output booked for the wip item is 236 kg. and the finished good also made consuming this wip item. our costing method is average.
how can i adjust this entries so as to correct the consumption and output cost.
please help me on this issue.
if i revalued the wip item but still the wrong consumption entry is as it is in the system. and how to adjust the stock that is wrongly consumed.
thanks,
Revalue the cost of the FG item and do the positive adjustment for the wrongly consumed Item.
Regards,
Faisal Bukhari
but what about the consumed item it is already in the consumption g/l. how to correct that consumption entry. if i do the positive adjustment with value it will affect my p&l.
Is your production order Finished(status changed to Finished) ? if not then you can manually enter the additional quantity as negative quantity in Consumption journal.
Go to Consumption journal enter the production order number in the consumption journal and manually add the items and enter the additional quantity as negative qty and then post.
Regards,
Faisal Bukhari
I would suggest post negative consumption if order is not finished.