Job Order Costing & Process Cost Systems

Job Order Costing & Process Cost Systems - Running...

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1 Joey D. Finley Kaplan University Managerial Accounting AC239-02 Edward Kaplan March 26, 2011
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Professor and Class, I never like to assume, because we all know what happens when you assume, but if I were put in a managerial position in the manufacturing operations department, specifically dealing with the custom ordering division I would make sure all the crucial manufacturing information would be tracked properly. Since my part of the company would be making custom orders of fine jewelry, I would use a “job order cost system” because it will provide product cost for each quantity of unique product manufactured. The imperative information to be track would be; the product costs including direct materials, direct labor, and factory overhead and inventories including materials, work in process, and finished goods. Certain documents pertinent to collecting and maintaining some of this information consist of a materials account,
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