Sources of Overhead Information

Information regarding different items of overheads can be collected from the following sources:

(a) Stores requisitions: These are used for issue of indirect materials from stores. A stores abstract on the pattern of materials abstract can be prepared to ascertain the amount of total stores issued.

(b) Invoices: Invoices received for stores purchases are available with the purchase department. The information regarding the cost of stores received can be collected from such invoices.

(c) Cash book: A scrutiny of the cash book helps in identifying the amount of indirect expenses incurred. They should be properly scrutinized and the information given in them should be charged against the standing order number for different departments.

(d) Wages analysis sheet: This document is used for analysis of wages paid between direct and indirect wages. The indirect wages have to be charged as overheads.

(e) Miscellaneous reports: The information regarding depreciation can be calculated from Plant Register. Similarly, information regarding scrap, wastes, defectives, etc. can be gathered from relevant reports.

(f) Journal entries: The journal entries for accrued or outstanding salaries, rent, wages or notional charges for rent or interest can be used for collecting information about items mentioned above.

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