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January 22, 2009 Lab Day2 Normal versus Actual costing o Normal Applied overhead o Actual Actual overhead Can’t get actual overhead immediately Cost Drivers o Labor/ manufacturing hours Applied Overhead is an aprox. o It allows you to see and track costs month to month Driver o What drives your costs Normal o Using predetermined/ budgeted figures to aprox. Costs
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Unformatted text preview: • Actual o Have to wait to get bill to actually know costs • Steps to normal costing o Compute PDOR o Apply PDOR to actual figures throughout the year o At end of the year compare applied versus Actual Over or under • If applied 1200 and spent 1500 → under applied • Job Order Costing...
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This note was uploaded on 04/18/2011 for the course BUS 203 taught by Professor Keenan during the Winter '09 term at Indiana.

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