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Deductions & credits
Thank you for your reply.
Per my reply to first message member, the $3 cost per piece includes Laser Cut fees. It's 2 to 1. The Laser cutting cost is 2X as material.
Regarding "The two pieces you scraped should be included in your material costs."
Because all my parts are custom made upon order, I don't have inventory to report. Turbo Tax noted to input my production supplies in the supplies/common expenses. I would enter the raw material cost of Titanium (no laser cut cost). Then in the Contract Labor section I would enter the amount paid for Laser Cutting.
Let's say 2021, every piece i have failed put into scrap box. I have not counted yet but it looks to be around 500pcs. If i put this 500pcs scrap in my material cost? Should i include the laser cut cost too?
any suggestions appreciated, thank you