CH14 - ACCT 3337 Job order cost problem Inventory records...

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1 ACCT 3337: Job order cost problem Inventory records used in a job order cost system include both the control account and the underlying subsidiary ledger accounts. Raw Materials Inventory# N Job#1 Job#N Product #1 Product #N Raw Materials Inventory- Control Work-in-progress-Control Finished Goods Inventory- Control Raw Materials Inventory#1 Finished Goods Inventory- Subsidiary ledgers Raw Materials-Subsidiary ledgers Job Cost Sheet -Subsidiary ledgers Computation of the predetermined manufacturing overhead (MOH) rate: Projected activity: 20 units (only make Job#101) Table 1: Budgeted manufacturing overhead costs Variable Cost per unit Fixed cost Total Indirect materials $1 - $20 Indirect labor $2 - $40 Depreciation on plant and equipment - $60 $60 Property Taxes - $10 $10 Insurance - $10 $10 Utilities $1 - $20 Total $4 $80 $160 ±²³²´²±µ¶·²³¸¹º»¸¼½´² ¾ ¿À´½Á¸ÂóIJ´²³¸¹º» ±ÀŲƴ²³¸½Æ´¶Ç¶´È ¾ ÉÊËÌ Í̸÷¶´Î ¾ Éϸв±¸Ã·¶´ ¿À´½Á¸ÂóIJ´²³¸¹º» ¾ ÉÏÌ Ñ (ÉÒ Ó Í̸÷¶´Î) ¾ ÉÊËÌ Inventory beginning balances (control accounts) $10 $20 $30 $40 Indirect Materials Inventory Raw Materials Inventory Work-in-progress inventory Finished Goods Inventory
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2 Work-in-progress inventory control Job #101: $30; There are 20 units for this job and the job is 5% complete Finished goods inventory control--Job #99: $40; There are 10 units for this job. Transactions during the accounting period
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This note was uploaded on 04/06/2011 for the course ECON 3332 taught by Professor Craig during the Spring '11 term at Rensselaer Polytechnic Institute.

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CH14 - ACCT 3337 Job order cost problem Inventory records...

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