busi 101 sep 8 notes[2].chpater 2doc

busi 101 sep 8 notes[2].chpater 2doc - Sep 8 th , 2010,...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Sep 8 th , 2010, Wednesday BUSI 101 Predetermined Overhead Rate= Estimated Annual Overhead Costs/ Expected Annual Operating Activity MFC OHD Actual Applied If actual<applied OVER APPLIED If applied>actual UNDER APPLIED To dispose over applied or under applied, we have two ways: 1e Pre-rate(more accurate) 2e Close to COGS (write it off) If over applied MFC OHD XXX COGS XXX If under applied CGS XXX MFC OHD XXX e materials D WIP INV. XXX Materials INV. XXX WIP INV and Materials INV are both asset summary of Chapter 2 Job Order Cost System under job order cost system, the company assigns costs to each job or to each batch of goods. companies may complete jobs or batches to fill a specific customer order or to replenish inventory. an important feature of jobs order costing is that each job or batch has its own distinguishing characteristics. a job order cost system measures costs for each completed job, rather than for set time periods....
View Full Document

This note was uploaded on 05/09/2011 for the course BUSI 101 taught by Professor Dj during the Spring '11 term at University of North Carolina School of the Arts.

Page1 / 3

busi 101 sep 8 notes[2].chpater 2doc - Sep 8 th , 2010,...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online