Q.What is Bin card?

Bin card is maintained by the store-keeper — option (c).

In material control (CHSE +2 Cost Accounting), the bin card is a quantitative record attached to each bin/rack in the stores showing quantity received, issued and the balance of that item. It is kept and updated by the STORE-KEEPER at the point of storage. (The Stores Ledger, which records both quantity and value, is kept separately by the costing office.)

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The stores ledger is maintained by the Cost Accountant / costing department (Stores Ledger Clerk).

In material control the two records are deliberately kept by different people as a cross-check: the BIN CARD (quantity only) is kept by the store-keeper in the stores, while the STORES LEDGER (quantity and value) is maintained in the costing/cost-accounts office by the Cost Accountant (or the Stores Ledg …

A bin card is usually prepared in 2 copies — option (a).

In +2 Class-12 Cost Accounting (CHSE Odisha), a bin card is a quantitative record of receipts, issues and balance of each item of material, kept by the storekeeper. It is generally maintained in duplicate (two copies) — one attached to the bin/rack holding the material and the other kept in the …

The stores ledger is maintained by the costing department — option (d).

Two parallel records are kept for materials:

The term is the material requisition (stores requisition) note.

A material requisition note is raised by the department needing materials and, once authorised, instructs the storekeeper to issue the specified materials. It is the basic voucher for recording material issues and for charging t …

A bin card records (b) only quantity.

The bin card is a quantitative record maintained at each bin by the storekeeper, showing receipts, issues and the running balance of a material in units (quantity) only. Prices and values are recorded separately in the stores ledger (kept by the cost …