AFM102January282011

AFM102January282011 - Introduction to Management Accounting...

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Click to edit Master subtitle style 5/11/11 © Anthony Atkinson and Patrick Connolly Introduction to Management Accounting AFM 102 January 28, 2011 Job Order Costing 11
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5/11/11 © Anthony Atkinson and Patrick Connolly Key Topics in Today’s Class Job order costing Accumulating direct costs for each job Allocating indirect costs to each job 22
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5/11/11 © Anthony Atkinson and Patrick Connolly Job Order Costing A job order costing system accumulates the costs of manufacturing a product for a specific customer order Used to accumulate costs for a unique cost object Examples Visiting the dentist 33
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5/11/11 © Anthony Atkinson and Patrick Connolly 44
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5/11/11 © Anthony Atkinson and Patrick Connolly Need for Job Order Costing Products may differ Materials content Hours of labor required Machine time required Demand placed on support activity resources (i.e., manufacturing overhead) Special customer needs that require customized production 55
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5/11/11 © Anthony Atkinson and Patrick Connolly The Process 66
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