Example: Landed Cost Actual Costing
In the following example, the quantity used is 200.
Part Number jw-lc
| Costs |
Current |
| Material |
$4.00 |
| Duty |
$0.50 |
| Freight |
$0.25 |
| Brokerage |
$0.10 |
| Insurance |
$0.10 |
| Local Freight |
$0.10 |
| Totals |
$5.05 |
Vendor 2 jw-lc
| Quantity Break |
Material Cost |
| 100.00 |
$4.00 |
| 200.00 |
$3.75 |
| 300.00 |
$3.50 |
| 400.00 |
$3.25 |
| 500.00 |
$3.00 |
| Receiving |
Debit |
Credit |
| Inventory |
$4.80 |
|
| Vouchers Payable |
|
$3.75 |
| Duty Payable |
|
$0.50 |
| Freight Payable |
|
$0.25 |
| Brokerage Payable |
|
$0.10 |
| Insurance Payable |
|
$0.10 |
| Local Freight Payable |
|
$0.10 |
Create Voucher from PO:
| Voucher Distribution Totals |
|
|
| Duty |
$0.55 |
Expense is $0.05 more than receiving |
| Freight |
$0.20 |
Expense is $0.05 less than receiving |
| Brokerage |
$0.15 |
Expense is $0.05 more than receiving |
Voucher Distribution
(Additional Expense x Qty) |
Debit |
Credit |
| Inv Adjustment |
$10.00 |
|
| Duty Payable |
|
$10.00 |
| Freight Payable |
$10.00 |
|
| Brokerage Payable |
|
$10.00 |
| Inv Adjustment Var |
$10.00 |
|
| Voucher Posting |
Debit |
Credit |
| Accounts Payable |
|
$960.00 (4.80 x 200) |
| Brokerage Payable |
$20 (0.10 x 200) |
|
| Duties Payable |
$100 (0.50 x 200) |
|
| Freight Payable |
$50 (0.25 x 200) |
|
| Insurance Payable |
$20 (0.10 x 200) |
|
| Local Freight Payable |
$20 (0.10 x 200) |
|
| Vouchers Payable |
$750 (3.75 x 200) |
|
Related Topics
Transfer Order Landed Costs