Accounting entries for actual and normal absorption job costing. Product costing involves: (1) determining which cost items to include for the particular costing system employed by the firm, and (2) determining the dollar value of these cost items, and (3) entering these costs in the accounts. Whether an item is inventoriable depends on whether the firm is using absorption or variable costing. There are three different methods: actual costing, normal costing, standard costing. Where manual systems exist, the documents provide both source documentation and subsidiary ledger records for the summary entries in the materials control, overhead. Control, work in process (wip) control, finished goods (fg) control, and cost of goods sold (cogs) accounts. In other words, entries will be made in total, rather than for each individual transaction. With automated systems, the entries can be made on the source documents and/or subsidiary ledgers and in the general ledger simultaneously, with account balances continually being updated.