Factory Cost Reduce by Order Wise Process Review

Factory cost reduction

Factory cost reduce by order wise process review is common tools and technique for RMG sectors. If any factory didn’t maintained his cost or recovered CPM (Cost Per Minute) by followup top authority or several policy, than factory cost reduce by order wise individual process review and followup.

The below executive summary is the cost reduction tools and technique>>>

ParticularsOrder Closing Report from FactoryOrder Closing Report Finance Review
Total number of style/orders2323
Order Qty.95,05895,058
Fabric Received in store in Yrd.105,343105,343
Fabric Issue to cutting in Yrd.96,50796,412
Left Over Fabric (In Yd.)8,8368,831
Cut Quantity97,70997,709
Excess Cut2,6512,651
Excess Cut Yrd. in %9.31%9.31%
Excess Cut Qty. in %3%3%
Shipped Quantity95,49495,494
Excess Shipped Quantity436436
Balance after shipment2,1102,110
Providing sample266265
Cut to shipped rejection Qty.2,2152,215
Cut to shipped ratio97.73%97.73%
Cost Reduction Tools & Technique

Advance Payment to Supplier With VAT & Tax Accounting Journal Entries

RMG Life Information

Advance Payment to Supplier With VAT & Tax Accounting Journal Entries is the best way to maintain the creditors account. The entry now is to debit the Advance to supplier account which is under current assets & credit the account by the name of supplier, close the Advances to supplier account by crediting When the bill or invoice is received, and record the cash or bank payment for the balance which is by crediting the Cash or bank account.

The below correct journal entry is good for better understanding of preparing financial statement.

Example: Purchase Air Conditioner (AC) from MK Electronic Tk. 53,750.00 in advance with 7.5% VAT & 2% TDS.

Few others accountant are maintain the treatment with the easy way of below journal entries.