ACCT 346 Week 2 Threaded Discussion - Costing Methods

ACCT 346 Week 2 Threaded Discussion - Costing Methods -...

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ACCT 346 Managerial Accounting - Week 2 Threaded Discussion: Costing Methods Post #1: Briefly describe the costing method used by your company. Post #2: If that does not seem like an applicable question in your case, identify the types of companies that might use each method. My old company Restaurant Associates is a large catering company with several lucrative food service accounts in many parts of the US and abroad. In New York City the Central Catering Kitchen where I worked, is responsible for all off- premise parties and special events. The unit applies a job order costing method to all jobs that it handles -- an appropriate method because it bears the following characteristics: - each party is a unique job, created in response to an order from a client - all costs CCK incurs are collected and assigned to a specific party or event; - costs are assigned for each completed job, rather than for set time periods; - only one Work-in-Process inventory account is required; and - the cost of completed events is transferred to the Finished Goods inventory once all food
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This note was uploaded on 05/27/2011 for the course ACCOUNTING 346 taught by Professor Glenn during the Spring '11 term at DeVry NY.

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ACCT 346 Week 2 Threaded Discussion - Costing Methods -...

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