Chapter 16 Review

Chapter 16 Review - Chapter 16 Review A Refresher before we...

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A Refresher before we move into Job Order Costing Chapter 16 Review
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Topics We Will Review Cost Classifications The Cost of Goods Formula Manufacturing Cost Flow Manufacturing Cost Measurement Methods Overhead Cost Allocation
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Overview of Cost Classifications
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Components of Cost of Goods Sold
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Cost of Goods Formula Beginning Inventory + Net Purchases = Goods Available for Sale - Ending Inventory = Cost of Goods Sold
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Manufacturing Cost Flow Cost of Goods Purchases Sold BEGINNING MATL INVENTORY BEGINNING WIP INVENTORY BEGINNING FG INVENTORY + NET MATL PURCHASES + TOTAL MFG COSTS + COST OF GOODS MFG TOTAL MATL AVAIL TO WIP GOODS AVAIL TO MFG GOODS AVAIL FOR SALE -ENDING MATL INVENTORY -ENDING WIP INVENTORY -ENDING FG INVENTORY COST OF MATL'S USED COST OF GOODS MFG COST OF GOODS SOLD TOTAL MFG COSTS = COST OF MATERIALS USED + DIRECT LABOR + OVERHEAD Inventory Inventory Inventory Direct Labor OVERHEAD Materials Work in Process Finished Goods
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Work in Process Inventory Overhead Factory Payroll
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This note was uploaded on 02/02/2012 for the course ECON 125 taught by Professor Ho during the Summer '10 term at San Diego State.

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Chapter 16 Review - Chapter 16 Review A Refresher before we...

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