Predetermined Overhead Rate and Capacity
Rubab Ali Predetermined Overhead Rate and Capacity: Companies typically base their predetermined overhead rates on the estimated, or budgeted, amount of allocation base for the upcoming period. This is the method that…
Recording Cost of Goods Manufactured and Sold in Job Order Costing
Abida Rehman Recording Cost of Goods Manufactured and Sold in Job Order Costing: Cost of Goods Manufactured (COGM): When a job has been completed, the finished out put is transferred from the…
Recording Non-manufacturing Costs in a Job Order Costing System
Recording Non-manufacturing Costs in a Job Order Costing System: In addition to manufacturing costs, companies also incur marketing and selling costs. These costs should be treated as period expenses and…
Use of Information Technology in Job Order Costing System
Sana Ahmed Use of Information Technology in Job Order Costing System: Learning objectives of the articles: What are advantages of using bar code technology in job order costing system. Bar code technology…
Over-applied and Underapplied Overhead
Over-applied and Underapplied Overhead Learning objectives of this article: Define, explain and calculate under-applied and over-applied overhead rate. Give an example. Definition and Explanation of Over and Underapplied Overhead: Since…
Multiple Predetermined Overhead Rates
Shamsa Rafique Multiple Predetermined Overhead Rates: Learning Objectives of the Article: What are multiple predetermined overhead rates? What is the need of calculating multiple predetermined overhead rates? When a single predetermined overhead…
Disposition of Underapplied or Overapplied Overhead Balances
Disposition of Underapplied or Overapplied Overhead Balances: Learning objective of the article: How is over and under applied overhead is disposed off. Give an example to explain the procedure? What…
Measuring Direct Labor Cost in Job Order Costing System
Measuring Direct Labor Cost in Job Order Costing System: Learning objective of this article: What is a labor time ticket? Give an example of labor time ticket. How direct labor…
Measuring Direct Materials Cost in Job Order Costing System
Measuring Direct Materials Cost in Job Order Costing System: Learning objective of this article: What is a materials requisition form. Give an example of materials requisition form. What is a…
Application of Manufacturing Overhead Cost in Job Order Costing
Application of Manufacturing Overhead Cost in Job Order Costing: Learning objective of this article: Define and explain predetermined manufacturing overhead applied to work in process rate, how is it calculated?…
Job Order Costing Questions and Answers
Job Order Costing Questions and Answers: Questions: Cost accounting is said to consist of three different phases. Name them. See answer. Name four control accounts concerned primarily with cost determination.…
Job Order Costing in Service Companies
Job Order Costing in Service Companies: Job order costing is also used in service organizations such as law firms, movie studios, hospitals, and repair shops, as well as manufacturing companies.…
Job Order Costing – The Flow of Cost
Job Order Costing - The Flow of Cost: Learning objective of this article: Understand the flow of costs in a job order costing system and prepare appropriate journal entries to…
Job Order Costing System Exercises and Problems
Exercise 1-- Cost accumulation Procedure Determination Exercise 2-- Job order cost sheet Exercise 3-- Job order costing-T Accounts and Journal Entries Exercise 4-- Job Order Cycle Entries Exercise 5-- Journal…
Job Order Costing System-Case Study
Job Order Costing System-Case Study: Case A: Job Order Costing; General and Factory Ledger Case B: Determination of Cost Case C: Improving a Cost Information and Accumulation System Case D:…
Advantages and Disadvantages of Job Order Costing System
Advantages and Disadvantages of Job Order Costing System: Learning objectives of the article: What are the advantages and disadvantages of job order costing system? One of the primary advantages of…
Job Order Costing System
Job Order Costing System: After studying job order costing system chapter you should be able to: Distinguish between process costing and job order costing and identify companies that would use…