KT QUẢN TRỊ THUYẾT TRÌNH 1 CHƯƠNG 3

48 130 0
  • Loading ...
1/48 trang

Thông tin tài liệu

Ngày đăng: 17/03/2018, 20:43

Suitable for categories business and personal presentation, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae HỌ VÀ TÊN DANH SÁCH NHÓM MSSV Nguyễn Vương Bảo 14027311 Nguyễn Thị Tuyết Mai 14017491 Nguyễn Thị Ngọc Anh 14013901 Hồ Phước Quang Đức 14033801 Trịnh Thành Hưng Category in Chapter 3: 3.1 Job- order costing – an overview 3.2 Job- order costing – an example 3.3 Job- order costing- the flow of costs 3.4 Schedules of cost good manufactured cost of goods sold 3.5 Underapplied and overapplied overhead – acloser look 3.6 Job- order costing in the service companies 3.7 Managing Job cost in a service business 3.1 JOB- ORDER COSTING – AN OVERVIEW • Under absorption costing, product costs include all manufacturing costs Some manufacturing costs, such as direct materials, can be directly traced to particular products Job- order costing is used in situations where many different products are produced each period It is also used to extensively in service industries For example, hospital, lawfirms, movie studios, etc, all use a variation of job-order costing to accumulate costs 3.2 JOB- ORDER COSTING – AN EXAMPLE • To introduce job-order costing, we will follow a specific job as it progresses through the manufacturing process Manufacturing Cost Direct Materials Direct Labor Manufacturing Overhead The meeting : The company’s top manager Marc White Jean Most (The company’s president) Debbie Turner (The production manager) (The company controller) David Cheung (The marketing manager) Staffs 3.2.1 Measuring direct materials cost • The blueprints submitted by Loops Unlimited indicate that each experimental coupling will require parts that are classified as direct materials: Two G7 Connectorsandone, M46 Housing • This is a custom product that is being made for the first time, but if this were one of the company’s standard products, it would have an established bill of material Bill of material Is the document that lists the type and quantity of each type of direct material needed to complete a unit of product Manufacturing Overhead (a clearing account) • Actual overhead costs are charged to this account as they are in curred through out the period • Overhead is applied to Work in Process using the predetermined overhead rate 3.3.5 Nonmanufacturing costs • In addition to manufacturing costs, companies also incur selling and administrative costs • The cost should be treated as period expenses and charged directly to the income statement Non manufacturing costs should not go into the Manufacturing Overhead 3.3.6 Cost of Goods Manufactured • When a job has been completed, the finished output is transferred from the production departments to the finished goods warehouse • A transfer of costs is made within the costing system that parallels the physical transfer of goods to the finished goods ware house • The costs of the completed job are transfer red out of the Work in Process account and into the Finished Goods Accounts 3.3.7 Cost of Goods Sold • As finished goods are shipped to customers, their accumulated costs are transferred from the Finished Goods account to the Cost of Goods Sold account • If an entrie job is shipped at one time, then the entire cost appearing on the job cost sheet is transferred to the Cost of Goods Sold 3.4 SCHEDULES OF COST OF GOOD MANUFACTURED COST OF GOODS SOLD The schedule of cost of goods manufactured and The schedule of cost of goods sold Same: •Costs- direct materials •Direct labor •Manufacturing overhead Different: + The schedule of cost of goods manufactured: - The portions of those costs that remain in ending Work in Process inventory and that are transferred out of Work in Process into Finished Goods + The schedule of cost of goods sold: - The portions of those costs that reamain inending Finished Goods inventory and that are transferred out of Finished Goods into Cost of Goods Sold The schedule of costs of goods sold shown in Exhibit 3-11 relies on the following equation to compute the unadjusted cost of goods sold Unadjusted cost Beginningfinishe d goods inventory Cost of goods manufactured Ending finished goods 3.5 UNDERAPPLIED AND OVERAPPLIED OVERHEAD – A CLOSER LOOK Turbo Crafters and Black & Howell have prepared the following estimated data for the coming year: Turbo Crafters Allocation base …………………………………………… Black & Howell Machine- hours Direct materials costs Estimated manufacturing overhead cost (a) $300,000 $120,000 Estimated total amount of the allocation base (b) ……………………………………………………… 75,000 machine- hours $80,000 direct materials cost Predetermined overhead rate (a) / (b) ………… $4 per machine- hour 150% of direct materials cost Now assume that because of unexpected changes in overhead spending and in demand for the companies products, the actual overhead cost and the actual activity recorded during the year in each company are as follows Turbo Crafters Black & Howell Actual manufacturing overhead cost ……………………………………… $290,000 $130,000 Actual total amount of the allocation base ……………………… 68,000 machine- hours $90,000 direct materials cost For each company, note that the actual data for both cost and the allocation base differ from the estimates used in computing the predetermined overhead rate This results in underapplied and overhead as follows A summary of these concepts is presented in Exhibit 3-13 At the beginning of the period: Estimated total manufacturing overhead cost Estimated total amount of the allocation base Predetermined overhead rate During the period: Predetermine d overhead rate Actual total amount of the allocation base incurred during the period Total manufacturing overhead applied Total manufacturing overhead applied Underapplied (overapplied) overhead At the end of the period: Actual total manufacturin g overhead cost Disposition of Underapplied or Overapplied Overhead Balances The underapplied or overapplied balance remaining in the Manufacturing Overhead account at the end of a period is treated in one of two ways: •Closed out to Cost of Goods Sold: closing out the balance in Manufacturing Overhead to Cost of Goods Sold •Allocated between Accounts: allocation of under applied or overapplied overhead between Work in Process, Finished Goods, and Cost of Goods Sold is more accurate than closing the entire balaned into Cost of Goods Sold This allocation assigns overhead costs to where they would have gone had the estimates included in the predetermined overhead rate matched the actual amounts Raw Materials Debited for the cost of materials Credited for direct purchased Materials added to Work in Process Work in Process Credited for indirect materials added to Manufacturing Salaries and Wages Payable Credited for direct labor added to Work in Process Debited for the cost of direct materials, direct labor, and manufacturing overhead applied Credited for the cost of goods manufactured Finished Goods Debited for the cost of goods Credited for the cost of goods Credited for indirect aboradded to Manufacturing Overhead Cost of Goods Sold Manufacturing Overhead Debited for actual overhead costs incurred Credited for overhead cost applied to Work in Process Under applied overhead cost Overapplied overhead cost Debited for the cost of goods sold Job- order costing is used in service organizations such as law firms, movie studios, hospitals, and repair shops, as well as in manufacturing companies READ A BOOK ... Bảo 14 027 31 1 Nguyễn Thị Tuyết Mai 14 017 4 91 Nguyễn Thị Ngọc Anh 14 0 13 9 01 Hồ Phước Quang Đức 14 033 8 01 Trịnh Thành Hưng Category in Chapter 3: 3 .1 Job- order costing – an overview 3. 2 Job-... Requisition Number: 14 8 73 Date : March Job Number to Be Charged 2B47 Department Milling Decription Quantity Unit Cost Total Cost M46 Housing $ 12 4 $248 G7 Connector $ 10 3 $ 412 3. 2.2 JOB COST SHEET... need for highly skilled direct workers such as engineers 3. 2.9 Computation of units costs 3. 3 JOB – ORDER COSTING – THE FLOW OF COSTS 3. 3 .1 The purchase and issue of materials • On April, Ruger
- Xem thêm -

Xem thêm: KT QUẢN TRỊ THUYẾT TRÌNH 1 CHƯƠNG 3, KT QUẢN TRỊ THUYẾT TRÌNH 1 CHƯƠNG 3, For each company, note that the actual data for both cost and the allocation base differ from the estimates used in computing the predetermined overhead rate. This results in underapplied and overhead as follows

Từ khóa liên quan

Mục lục

Xem thêm

Gợi ý tài liệu liên quan cho bạn

Nhận lời giải ngay chưa đến 10 phút Đăng bài tập ngay