Material Costing Complete Chapter | CA Inter Costing Complete Chapter 2 | As Per ICAI New Scheme

Material Costing Complete Chapter | CA Inter Costing Complete Chapter 2 | As Per ICAI New Scheme

In this Video We Will Discuss Costing Chapter 2 Material Costing all Concepts, Problems and Examples for CA Inter Students has been Discussed by Chandan Poddar Sir for CA Intermediate Grooming Education. #CostingCommando

⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐂𝐨𝐬𝐭𝐢𝐧𝐠 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐂𝐨𝐮𝐫𝐬𝐞
https://www.escholars.in/p/ca-inter-c...

⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎 𝐁𝐨𝐭𝐡 𝐆𝐫𝐨𝐮𝐩
https://www.escholars.in/p/ca-interme...

⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟏
https://www.escholars.in/p/ca-inter-g...

⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝟑.𝟎: 𝐆𝐫𝐨𝐮𝐩 𝟐
https://www.escholars.in/p/ca-inter-g...

⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐈𝐧𝐝𝐢𝐯𝐢𝐝𝐮𝐚𝐥 𝐂𝐨𝐮𝐫𝐬𝐞𝐬
https://www.escholars.in/store/ca-int...

⚫ 𝐂𝐀 𝐈𝐧𝐭𝐞𝐫 𝐒𝐮𝐠𝐠𝐞𝐬𝐭𝐞𝐝 𝐀𝐧𝐬𝐰𝐞𝐫𝐬
https://www.escholars.in/store/ca-int...

⚫ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐨𝐮𝐫 𝐄𝐬𝐜𝐡𝐨𝐥𝐚𝐫𝐬 𝐀𝐈 𝐀𝐩𝐩
https://play.google.com/store/apps/de...

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⚫ CA Inter Costing Important Topics
   • Видео  

Time Stamp:
0:00 Intro
1:35 Material
11:06 Total Ordering Cost
17:16 Total Carrying Cost
38:27 What is EOQ
38:56 How to Compute EOQ
1:19:02 Important Questions
1:56:41 Stock Level
1:56:48 Reorder Stock Level
2:05:16 Maximum Stock Level
2:15:15 Minimum Stock Level
2:24:28 Average Stock Level
2:26:28 Danger Stock Level
2:27:49 Buffer Stock
2:28:57 Questions
2:41:17 Landing Price
2:48:44 Other Expenditures
2:55:45 Shortage
3:09:38 Inventory Turnover Ratio

Material costing is the process of determining the costs at which inventory items are recorded into stock, as well as their subsequent valuation in the accounting records. We deal with these concepts separately.

Material Costing for Initial Inventory Acquisition
A company must decide whether it will record acquired materials at their purchased prices, or if additional costs will be added, such as freight in, sales taxes, and customs duties. The addition of these other costs is allowable but may require a certain amount of additional work. It is easier to charge these additional costs to expense as incurred, so they appear immediately in the cost of goods sold. Overhead is not allocated to raw materials, since these items have not undergone any production activities (with which overhead is associated). Overhead is only allocated to work-in-process and finished goods inventory.

Material Costing for Subsequent Valuation
Once the inventory has been received into stock, it is subject to the lower cost or market (LCM) rule. In essence, this rule states that the recorded cost of inventory should be at the lower of its recorded cost or the market rate. From a practical perspective, this rule is usually only applied to those inventory items having the largest extended costs. Its application to low-value items would not result in any material changes, and so is avoided from an efficiency perspective.

Material Costing for Subsequent Valuation
Once the inventory has been received into stock, it is subject to the lower cost or market (LCM) rule. In essence, this rule states that the recorded cost of inventory should be at the lower of its recorded cost or the market rate. From a practical perspective, this rule is usually only applied to those inventory items having the largest extended costs. Its application to low-value items would not result in any material changes, and so is avoided from an efficiency perspective.

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