chapter 3

chapter 3 - 2301-Know how to do Journals job-order costing...

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Unformatted text preview: 2301-Know how to do Journals. job-order costing- identical but wont cost the same. --Many different products are produced each period. --Products are manufactured to order. *labor can cost more. 2 guys work at a different pace. EX:1. Boening-price gas changes, labor change Obj 2. Job Order Costing- Overview 1.Direct Materials –The materials that are needed for the job. 2.Direct Labor – Workers 3.Manufacturing Overhead- is applied to jobs that are in process. Example:security guard guarding the new building. Electricity bill for the workers. COST TO BUILD THE PLACE. Job Cost Sheet Simple cost the departments labor and overhead Requisition Form- Form for the material needed for the job needed. Employee Time Ticket- How much workers get paid for. Document Flow summary Direct Materials-2x4 Indirect materials-bolts, nails(estimate of how much will be used) Nonmanufacturing Cost PERIOD COST: Salary expense of employees who work in a marketing, selling, or administrative capacity ...
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