Ch03 Job-order costing - STUDENT COPY

Ch03 Job-order costing - STUDENT COPY - JOB-ORDER COSTING...

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JOB-ORDER COSTING
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Gold Nes Compan i famil owned enterprise tha make birdcages in Job-order Costing; T-Accounts; Income Statement Gold Nest Company is a family-owned enterprise that makes birdcages in Chinatown. A popular pastime among older Chinese men is to take their pet birds on daily excursions to teahouses and public parks. The birdcages are often elaborately constructed from exotic woods and contain porcelain feeding bowls and silver roosts. Gold Nest Company makes a broad range of birdcages that it sells through an extensive network of street vendors who receive commissions on their sales. All the company’s transactions with customers, employees, and suppliers are conducted in cash; there is no credit. The company uses a job-order costing system in which overhead is applied to jobs on the basis of direct labor cost. At the beginning of the year, it was estimated that the total direct labor cost for the year would be $200,000 and the total manufacturing overhead cost would be $330,000. At the beginning
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This note was uploaded on 10/20/2009 for the course ACCT 333 taught by Professor Shirin during the Spring '09 term at École Normale Supérieure.

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Ch03 Job-order costing - STUDENT COPY - JOB-ORDER COSTING...

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