JOB ORDER COST SYSTEMS AND OVERHEAD ALLOCATIONS

Sep 11, 2012

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Planning and control functions.. Providing products or services to customers.. Assessing the efficiency and effectiveness of operations.. Determining unit manufacturing costs.. . . Cost accounting systems provide information supporting decisions making the business successful.. Cost Accounting Sy

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JOB ORDER COST SYSTEMS AND OVERHEAD ALLOCATIONS

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Job Order Costing Systems

Job Order Costing Systems. Adapted for: Accounting 212 Chapter 21. CHAPTER 21 JOB ORDER COST ACCOUNTING. After studying this chapter, you should be able to:. 1 Explain the characteristics and purposes of cost accounting. 2 Describe flow of costs in a job order cost accounting system.

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Job Order Cost System

Job Order Cost System. Module 5 ACG 2071 Created by M. Mari Fall 2007-1. Job order cost Provides separate record of the cost of each quantity of the product that passes through the factory. Process cost system Costs are accumulated for each of the department or processes within the factory.

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JOB ORDER COST SYSTEMS AND OVERHEAD ALLOCATIONS

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Job Order Cost Systems

0. 19. Job Order Cost Systems. 0. After studying this chapter, you should be able to:. Describe accounting systems used by manufacturing businesses. Describe and prepare summary journal entries for a job order cost accounting system. Use job order cost information for decision making. 0.

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Cost Allocations

Cost Allocations. EMBA 5412 Fall 2007. What are Cost Allocations. Assignment of Indirect Common Joint costs To cost objects Processes Products Programs etc. Process of cost allocation . Define cost objects Accumulate costs for different cost centers that serve the cost object

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Systems Design: Job-Order Costing

Systems Design: Job-Order Costing. Learning Objective 1. Distinguish between process costing and job-order costing and identify companies that would use each costing method. Products are manufactured by orders. Many different products are produced each period.

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Systems Design: Job-Order costing

Chapter 3. Systems Design: Job-Order costing. Types of Costing Systems Used to Determine Product Costs. Process Costing. Job-order Costing. Chapter 4. Many different products are produced each period. Products are manufactured to order. Cost are traced or allocated to jobs.

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Systems Design: Job-Order Costing

Chapter 5. Systems Design: Job-Order Costing. A company produces many units of a single product. One unit of product is indistinguishable from other units of product. The identical nature of each unit of product enables assigning the same average cost per unit.

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Job Order Cost Accounting

Chapter 19. Job Order Cost Accounting. Process Costing. Job Costing. Cost Accounting Systems. C 1. Chapter 20. Used for production of large, unique, or high-cost items. Built to order rather than mass produced. Many costs can be directly traced to each job. Process Costing.

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Systems Design: Job-Order Costing

Systems Design: Job-Order Costing. Chapter 3. Types of Product Costing Systems. A company produces many units of a single product. One unit of product is indistinguishable from other units of product.

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Job Order Cost Accounting

Job Order Cost Accounting. Chapter. 19. Learning objectives. Job Order Costing Accounting System Job Order Cost Flows and Reports Overhead and Overhead Application Adjust Overapplied and Underapplied Overhead Job Order Accounting Typical Journal Entries. Process Costing. Job Costing.

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Expansion Planning and Cost Allocations

1. Expansion Planning and Cost Allocations. Topeka, Kansas March 8, 2010. SPP Mission. Helping our members work together to keep the lights on – today and in the future. 3. Our Beginning. Founded 1941 with 11 members

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Job Order Cost Accounting

Job Order Cost Accounting. Chapter 20. Cost Systems. There are two basic systems used by manufacturers to assign costs to their products: Process costing Job Order costing. Process Costing. Used by companies that produce large numbers of identical units Breakfast cereal Paper mills

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Job Order Cost Accounting

21. Job Order Cost Accounting. Job Order Cost Flow Reporting Job Cost Data Under- or Overapplied Overhead. Beginning Inventory Balances. Job 315 Dining Tables (50). Beg 3,100. Direct Materials. Work in Process. Finished Goods. Materials Maple $5,430 Labor Aug (110 hrs) 2,300

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Systems Design: Job-Order Costing

Systems Design: Job-Order Costing. Chapter 3. Types of Product Costing Systems. Process Costing. Job-order Costing. 3- 2. Process Costing

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Product and Service Costing: Overhead Application and Job-Order System

Product and Service Costing: Overhead Application and Job-Order System. Prepared by Douglas Cloud Pepperdine University. Objectives. 1. Differentiate the cost accounting systems of service and manufacturing firms and of unique and standardized products.

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Job Order Cost Accounting

Chapter. 29. Job Order Cost Accounting. Section 1: Cost Accounting. Section Objectives. Explain how a job order cost accounting system operates. Types of Cost Accounting Systems. Job Order Cost Accounting Process Cost Accounting Standard Cost Accounting.

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Job-Order, Process, and Hybrid Cost Systems

Job-Order, Process, and Hybrid Cost Systems. Chapter 12. Job-Order Cost Systems. Process Costing. Job-Order Costing. Product costs are traced to individual inventory items. Products are manufactured to order. Cost records must be maintained for each distinct product or job.

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Job-Order Costing and Accounting for Overhead

Job-Order Costing and Accounting for Overhead. 6. Product Costing. Job Order Allocate costs to products that are readily identifiable Common in construction, print shops, unique goods Accumulate costs for specific jobs Produce for sale. Process Costing

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Systems Design: Job-Order Costing

Chapter 3. Systems Design: Job-Order Costing. Types of Costing Systems Used to Determine Product Costs. Process Costing. Job-order Costing. Chapter 4. Many different products are produced each period. Products are manufactured to order. Cost are traced or allocated to jobs.

1.1k views • 71 slides

Systems Design: Job-Order Costing

Systems Design: Job-Order Costing. Chapter 3. Learning Objective 1. Distinguish between process costing and job-order costing and identify companies that would use each costing method. A company produces many units of a single product.

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Expansion Planning and Cost Allocations

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