Quality Control Costs
Code: 5144
👁 Views: 85
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Debit |
Definition
Costs of product inspection, quality tests, laboratories, consumables used in quality control, and salaries of quality control technicians.
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 2 / IAS 16 / IAS 37
Inventories / PPE / Provisions
US GAAP
ASC 330 / ASC 360 / ASC 450
Inventory / PPE / Contingencies
❓ Frequently Asked Questions
Q: What are quality control costs?
A: Costs of product inspection, quality tests, laboratories, consumables used in quality control, and salaries of quality control technicians, considered manufacturing overhead.
Q: Are quality control costs included in product cost?
A: Yes, they are part of manufacturing overhead and are included in product cost (WIP and finished goods).