Incorrect cost on closed work order

We created a work order for a part number and accidentally put the unit cost in as $1,486.4667 instead of $14.8429. The work order is closed and inventory is overstated.

Help!

Parents
  • BM disassembly might not work depending on the valuation type.  (You don't get to choose the cost tier).

    This won't correct production history, but:

    • IM Adjustment down (for the bad amount), posted, then Adjustment up for the correct amount.
    • GL journal entry to move the $ difference from the IA account offset to whatever variance account was overstated during the WO posting.
Reply
  • BM disassembly might not work depending on the valuation type.  (You don't get to choose the cost tier).

    This won't correct production history, but:

    • IM Adjustment down (for the bad amount), posted, then Adjustment up for the correct amount.
    • GL journal entry to move the $ difference from the IA account offset to whatever variance account was overstated during the WO posting.
Children