3.15 may%2013%20%26%2018%20ch%2013.PPT

3.15 may%2013%20%26%2018%20ch%2013.PPT - ACIS 222 Job-order...

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ACIS 222 Job-order Costing Reading: Eldenburg et al. (2008) Chapter 13
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Ch13- Ch13- 2 Key Topics The flow of costs in the manufacturing process Allocating overhead costs to jobs actual vs. normal costing Journal entries The uses and limitations of job costing
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Ch13- Ch13- 3 Job Order Costing wide variety of distinct products costs accumulated by job unit cost computed by dividing job costs by units produced by that job
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Ch13- Ch13- 4 Process Costing homogeneous products costs accumulated by process or department unit cost computed by dividing process costs of the period by the units produced in the period
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Ch13- Ch13- 5 Flow of costs through the manufacturing process Direct labour Non- manufactu ring costs Direct materials Overhead Finishe d goods invento ry Work in process invento ry Revenue – COGS Gross margin Other expenses Operating income Expensed as period costs Income statement Balance sheet Traced Allocated
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Ch13- Ch13- 6 Example 1: Solution (a) total cost of the job Direct materials Direct labour Overhead Total cost (b) unit cost (c) price
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Ch13- Ch13- 7 Source documents Materials cost: Materials requisition forms when materials issued to production identify job number quantity of materials type of materials cost of materials
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Ch13- Ch13- 8 Requisition No._______ Date:______                   Department_________        Job No._____ Description      Quantity           Cost/unit         Total Cost Delivered By___________   Received by______________
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3.15 may%2013%20%26%2018%20ch%2013.PPT - ACIS 222 Job-order...

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