What is the treatment of loose tools as per Cost Accounting in detail?
CMA Shilpa Shinde
(COST ACCOUNTANT)
(217 Points)
Replied 14 March 2013
Dear Nikita
Loose Tools are part of Mills Stores Inventory.
This are Indirect Cost of production/ Factory Overheads.
Generally Valued at Cost of purchase.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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