Cost Ledger Control
Following Journal Entries are passed
Nature Of Transaction
1 Raw Material Purchase
2 Raw Material Consumed
3 Wages Incurred
4 Wages Charged to
Production
5 Production Overhead
incurred
6 Production Overhead
charged to W-I-P.
7 Balance in Production Overhead Account will be either Under/Over absorption of Overheads & its treatment will be similar
8 For Production
9 Administrative Overhead
incurred
1 Administrative Overhead
0 charged to Finished Goods
1
1 For COS/COGS
1
1 Selling Overhead incurred
2
1 Selling Overhead charged
3 to COS
1 Transfer COS2 to P/L A/c
4
1 Cost of Goods Sold
2 Cost Of Capital
Integrated Non Integrated
Stores Ledger Control A/c.Dr Stores Ledger Control A/cDr
To, Bank/ Creditor A/c To, CLC A/c
W-I-P A/c..Dr.
To, Sales Ledger Control A/c
Wages Control A/c....Dr.
To, Bank A/c
W-I-P A/c .Dr.
To, Wage Control A/c.
Production Overhead A/c Dr.
To, Bank A/c
W-I-P A/c .Dr.
To, Production Overhead A/c
Finished Goods A/c.Dr.
To, W-I-P A/c.
Administrative Overhead A/c .Dr.
To, Bank A/c
Finished Goods A/c Dr.
To, Administrative Overhead A/c
Cost of Sales A/c..Dr.
 1 For Sales Bank / Debtor A/c ......Dr.
5 To, Sales A/c.
1 Transfer Sales to PL A/c Sales A/c ..Dr.
6 To, Profit & Loss A/c

Following Ledgers will be maintained

1. Stores Ledger Control Account 2. Wage Control Account
3. Production overhead Control Account 4. W-I-P Control Account
5. Administrative Overhead Control Account 6. Finished Goods Control Account
7. Selling Overheads Control Account 8. Cost of Sales Account.
9. Sales Account. 10. Profit & Loss Account.
11. Cost Ledger Control Account 12.