6-11-11 notes - Mo Over under applied 20 over Production...

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1) Managerial acct. is internal acct. – any numbers of acct Fin. Acct. is external acct- 4 acct Managerial prerogative Juries inquiry Managerial acct. is transaction - Finical acct is one dementional Managerial is muliti demi. Fin has rules and regulations but managerial has no rules but if dealing with DOD managerial and the DOD uses the CAP so that the government don’t get screwed. Managerial has not audits but fins does need auditing P^1{Labor,captiail NetSales Raw Material Factory Payroll -cost goods sold (product cost)-a good, service, product Direct Materal+ Direct labor +Manufactory overhead -Gross margin + Indirect material/ indirect labor Manufactory-Indirect…Factor….Machine GAS (period cost= distribution) Net Income Product cost= DM+DL+MO (pg 82) MO is call by predetermined overhead rate (POR) = Tolal MO Unit of product- Job order costing Cost of Diver Job order cost Sheet DM DLH (hours) DL(cost) Machine hours POR –Mo applied------------#3oo -Mo Actual-----------280
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Unformatted text preview: Mo Over/ under applied 20 over Production cost report Value add activity= example bank teller Non-value added activity= security AB costing BEGRM +cost RM Available-end RM = DM Used BEF WIP DU DL MO +Total MGFT costs =total WIP-End WIP =Cost goods MGFT The Sch. Cost of Good MGFT (pg48) DOC- Accumulator Doc – Intermediary summary Doc-Job order cost sheet- sch of cost of Good MGFT – 4 financial Statements NET Sales BEG Finish goods +cost good MFGT = cost good Avail-End F/G =Cost goods sold-Gross margin-GAS =Net Income Cost behavior Model will be on the test DO. Pg 68 2-14 Recap 2 + 3 Pre-Billing summary is Billing hours x Bill Rate = Therapy Fee $100 D. Attorney Hours Martidale - Hubble Disbursements Expertise Witness $3,000 MR= MC. Means breaking-evening BE (units)= Total Fix + Targeted Income Selling price per unit – Variable cost BE ($) = Total Fix + Target Income (SP- VC ) SP Job 101 Job 102 Job 103 Job 104...
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