ch3M_sp11 - BCOR 2000 Chapter 3M Systems Design Job-Order...

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BCOR 2000 – Chapter 3M Systems Design: Job-Order Costing Systems Design: Job-Order Costing
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Applies costs to similar products that are mass  produced in a continuous fashion, for long periods Costs are assigned to processes; then to  products.  Cost accumulated for a specific time period  (week/month/ Quarter) E.g.,   Cereal, Paint, Beverages, Steel, Refining Unit Product Cost = Total Mfg Cost                                                   Units Produced  Process Costing
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Costs are assigned to each job or batch, then  costs are divided by # units in job or batch A job may be for a specific order or inventory Used when different and unique products are  produced E.g.,  Construction, Movies, Hospitals,  Professional Services like CPAs, lawyers,  advertising; Print shops Job Order Cost System
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Quick Check  Which of the following companies would be likely to use job-order costing rather than process costing? a. Scott Paper Company for Kleenex. b. Architects. c. Heinz for ketchup. d. Caterer for a wedding reception. e. Builder of commercial fishing vessels. Which of the following companies would be likely to use job-order costing rather than process costing? a. Scott Paper Company for Kleenex. b. Architects. c. Heinz for ketchup. d. Caterer for a wedding reception. e. Builder of commercial fishing vessels.
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JOC - Measuring Direct Materials Bill of Materials Lists type and quantity of each direct material needed to complete a unit Materials Requisition Form Specifies type and quantity of materials to be drawn from storeroom / inventory area Used to control the flow of materials Helps in safeguarding assets
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JOC - Measuring Direct Materials Cost PearCo Materials Requisition Form Requisition No. X7 - 6890 Date 3-4-08 Job No. A - 143 Department B3 Description Quantity Unit Cost Total Cost 2 x 4, 12 feet 12 3.00 $ 36.00 $ 1 x 6, 12 feet 20 4.00 80.00 116.00 $ Authorized Signature Will E. Delite
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This note was uploaded on 10/29/2011 for the course BCOR 2000 taught by Professor Brush during the Spring '07 term at Colorado.

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ch3M_sp11 - BCOR 2000 Chapter 3M Systems Design Job-Order...

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