Chapter 4 Notes.docx - Chapter 4 Notes Omit pgs 121-126...

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Chapter 4 Notes Omit pgs. 121-126 - Companies will do job costing when doing small batches, customized individual products, and individual customers P. 110 Decision Making Analysis Value Chain activities - Research and Development - Design - Production Job Costing Inventoriable Costs – DM, DL, MOH - Distribution - Marketing - Customer Service Direct Manufacturing, Direct Labor – Direct costs traceable to cost object - Actual Expenditures o Actual Cost per unit X Quanity Used o Use source documents to find information DM WIP FG Warehouse Factory Sales Floor Purchase order to vendor Bill of Materials Receipt Invoice from vendor Requistion Request Timecard for labor MOH allocated base on rate Called Normal Costing - DM, DL are based on actual numbers - MOH allocated (budgeted numbers) Actual Costing - DM, DL, MOH based on actual numbers - Predetermined rate = Actual annual manufacturing cost/actual annual quantity of cost allocation base o Manufacturing account always ends up at 0 Standard Costing - DM, DL, MOH based on budgeted numbers Allocation of Manufacturing Overhead
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