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The cost update creates accounting transactions by job and cost element valuation account. Each standard and non-standard asset discrete job is updated using the following formula:
If the result of the cost update is an increase in the standard cost of the job, the accounting entries for a cost update transaction are:
Account | Debit | Credit |
WIP accounting class valuation accounts | XX | |
WIP Standard cost adjustment account | XX |
Account | Debit | Credit |
WIP Standard cost adjustment account | XX | |
WIP accounting class valuation accounts | XX |
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