高顿财经CMA讲义——Job-Order Costing-1

合集下载

CMA P1U1学习笔记

例如转行业了、换供应商了等等额外产生的成本。从小卖铺转为钢铁行业switching costs是低的反之转换是高的。
有些switching cost是无法用钱衡量的例如psychological, effort-and timebased switching costs.
指的是存货
MA 持有成本 C 机会成本也是持有成本
订货成本
财经缺货成本
利润赚不到了失去客户信誉影响所以缺货成本不容易衡量。
高顿可见附件146题边际贡献率contribution marginCM = revenue- total variable cost 答案B 分析A中salary不是。C中depreciation不是。D中1、3不是。
cost behavior指的是fixed and variable 答案A 分析semivariable 指的是变动但是不按照比例变动。可以写成 y=a+bx的形式。用高低点法可以算出y=2x+5
用于process costing中
部门1
转出的是 transferred out
部门2
转入的是 transferred in
processing cost每个流程是一个部门分别核算成本
Manufacturing overhead是学习的重点和难点
高顿财经CMA
加班费
如果加班是为了客户的特定需求则直接作为订单的成本而不作为manufacturing overhead 如果加班是这个部门经常发生的则直接作为该部门的成本而不作为manufacturing overhead 福利费是作为间接费用处理的
对于conformance预防和评价质量还没有出现问题对于nonconformanceinternal failure已经发现问题了且产品还没有出

Job Order Costing 模板

materials as they are converted into finished goods
Manufacturing costs are assigned to Work in Process. Cost of completed jobs is transferred to Finished Goods. When units are sold, the cost is transferred to Cost of Goods Sold.
Page 2-14
42,000 42,000
SO 2 Describe the flow of costs in a job order costing system.
Job Order Cost Flow
Factory Labor Costs Consists of three costs:
1. Gross earnings of factory workers,
Page 2-5
SO 1 Explain the characteristics and purposes of cost accounting.
Cost Accounting Systems
Job Order Cost System
Costs are assigned to each job or batch. A job may be for a specific order or inventory.
Job Order Cost Flow
Illustratio2
Job Order Cost Flow
Accumulating Manufacturing Costs
Raw Material Costs

CMA考试新考纲(官方)-part one 2 (2)

Cost object – anything for which cost data is accumulated
Fixed cost – remain constant in total within a relevant range
3
CVP术语和假设

CVP Terminology and Assumption
总成本 – 总变动成本和总固定成本，806页营业收益 – 总收入减去经营的总成本，806页

净营业收益 – 税后的净收益，806页
Total cost – total variable costs and total fixed cost, page 281 Operation income – total revenue less total costs from operation, page 281 Net operating income – after-tax operating income, page 281

5
CVP术语和假设

CVP Terminology and Assumption
作业水平 – 某一期间生产或销售的数量 CVP分析的四个假设 – 线性、确定性、单一产品或明确界定的产品组合、产量等于销量 Activity level – number of units produced or sold during the period Four assumption underlying CVP analysis – linearity, certainty, a single product or a defined product mix, production is equal to sales

高顿财经CMA讲义——Job-Order Costing-5

2-36Learning Objective 6Compute underapplied or overapplied overhead cost and prepare the journal entry to close the balance in Manufacturing Overhead to the appropriate accounts.susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 362-37Defining Under- and Overapplied OverheadThe difference between the overhead cost applied to Work in Process and the actual overhead costs of a period is termed either underapplied or overapplied overhead.Underapplied overhead exists when the amount of overhead applied to jobs during the period using the predetermined overhead rate is less than the total amount of overhead actually incurred during the period. Overapplied overhead exists when the amount of overhead applied to jobs during the period using the predetermined overhead rate is greater than the total amount of overhead actually incurred during the period.susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 372-38Overhead Application ExamplePearCo’s actual overhead for the year was $650,000 with a total of 170,000 direct labor hours worked on jobs. How much total overhead was applied to PearCo’s jobs during the year? Use PearCo’s predetermined overhead rate of $4.00 per direct labor hour. Overhead Applied During the PeriodApplied Overhead = POHR × Actual Direct Labor Hours Applied Overhead = $4.00 per DLH × 170,000 DLH = $680,000susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 382-39Overhead Application ExamplePearCo’s actual overhead for the year was $650,000 with a total of 170,000 direct labor hours worked on jobs. PearCo overapplied Howhas much total overhead was applied to overhead for ’the year PearCo s jobs during the year? Use by $30,000. What will PearCo’s predetermined overhead rate of PearCo do? $4.00 per direct labor hour.Overhead Applied During the PeriodApplied Overhead = POHR × Actual Direct Labor Hours Applied Overhead = $4.00 per DLH × 170,000 DLH = $680,000susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 392-40Disposition of Under- or Overapplied OverheadPearCo’s Mfg. OverheadActual Overhead overhead applied costs to jobs $650,000 $30,000 $680,000 $30,000 overapplied Adjusted BalancePearCo’s Cost of Goods SoldUnadjusted Balance $30,000susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 40Over- and Underapplied OverheadØ Overapplieded overheadApplied Overhead Costs Actual Overhead Costs>Ø Underapplied overheadApplied Overhead Costs Actual Overhead Costs<susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 41Accounting for Over- and Underapplied OverheadThree basic approaches 1. Adjust cost of goods sold. 2. Prorate among work-in-process, finished goods, and cost of goods sold. 3. Recalculate the application rate and apply to all the jobs during the period.susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 42Accounting for Over- and Underapplied OverheadIf Manufacturing Overhead is . . . Underapplied (Applied OH is less than actual OH) Overapplied (Applied OH is greater than actual OH) DECREASE Cost of Goods Sold Alternative 1 Close to Cost of Goods Sold INCREASE Cost of Goods Sold Alternative 2 Allocation INCREASE Work-in-Process Finished Goods Cost of Goods Sold DECREASE Work-in-Process Finished Goods Cost of Goods Soldsusan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 432-44Multiple Predetermined Overhead RatesTo this point, we have assumed that there is a single predetermined overhead rate called a plantwide overhead rate. Large companies often use multiple predetermined overhead rates. May be more complex but . . .May be more accurate because it reflects differences across departments.susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 442-45Job-Order Costing in Service CompaniesJob-order costing is used in many difference types of service companies.susan p1 PDF 文件使用 "pdfFactory Pro" 试用版本创建 45Alternative Denominator-Level Concepts •The choice of the denominator used to allocate budgeted fixed manufacturing costs to products can greatly affect the numbers a normal or standard costing system will report prior to the end of an accounting period.susan p146Alternative Denominator-Level Concepts•Theoretical capacity•Practical capacity•Normal capacity•Master-budget capacitysusan p147Theoretical Capacity •Theoretical capacity(maximum or ideal capacity) is the denominator level conceptthat is based on producing at full (peak) efficiency all the time.–Results in•Significantunderapplied overheadSignificant underapplied•Lowest product costsusan p148Practical Capacity •Practical capacity is the denominator-level concept that reduces theoretical capacity byunavoidable operating interruptions.•The use of practical capacity is required by the IRS.–Usually results in•Underapplied overhead•Low product costsusan p149Normal Capacity•Normal capacity is the denominator-level concept based on the level of capacity utilization that satisfies average customer demand over several periods.•It includes seasonal, cyclical, and trend factors.When normal capacity is greater than master--–When normal capacity is greater than masterbudget capacity, may result in•Underapplied overhead•Higher product costsusan p150Master-Budget Capacity •Master-budget capacity is the denominator-level concept based on the expected level ofcapacity utilization for the next budget period (typically one year).susan p151ØTheoretical lowest product costØPractical low product costØNormal higher product cost *ØMaster-budget highest product cost*assuming normal exceeds master-budget capacitysusan p152End of Unit 2-1Job-order Costingsusan p153。

管理会计的专业术语

管理会计的专业术语预算（budget）是以数量形式对未来做出的计划。

商业活动程序（business process）是在商务活动中为完成一定的任务而遵守的一系列步骤。

首席财务官（chief financial officer）是企业高层管理团队成员，负责为企业的计划、控制活动以及编制财务报告提供及时和相关的数据支持。

约束（constraint）是阻止企业和个人实现其目的的事项。

控制（control）是为实现企业目标，保证企业各部门有效运行而制定的程序并获得反馈的过程。

财务部长（controller）是企业高层管理团队成员，直接对首席财务官报告，负责向管理当局提供及时、相关的财务数据并编制财务报告。

控制活动（controlling）是确保企业计划贯彻执行以及根据客观情况的变化对计划进行必要修改的活动。

公司治理（corporate governance）是一种对公司进行指导和控制的系统。

如果公司治理结构能够有效运行，那么既可以推进管理者视公司利益为工作目标，又可以实现公司对管理者业绩的有效监督。

分权化管理（decentralization）是通过赋予各层管理者与其职责相对应的决策权实现公司决策权的分解。

指导与推进（directing and motivating）是调动员工按照公司计划进行日常经营的管理活动。

企业信息化系统(enterprise system) 是将企业全部数据整合在一个中央数据库，以便于全体员工使用的软件系统。

企业风险管理（enterprise risk management）是为实现企业目标，对企业所面临的风险进行确认、量度和采取措施防范的过程。

反馈（feedback）是会计报告和其他形式的报告帮助管理者进行业绩监督，以及使管理者着眼于未曾注意到的机会和问题。

财务会计（financial accounting）是为公司股东、债权人、和其他外部利益相关者提供会计信息的活动。

产成品（finished goods）是已经完工，但并未售出的产品。

2020美国管理会计师(CMA) P1 第三章绩效管理第3节

第三章绩效管理第三章绩效管理本章主要内容第一节成本量度与差异量度第二节责任中心与报告分部第三节绩效评估第三节绩效评估知识点一产品获利能力分析知识点二业务部门获利能力分析知识点三客户获利能力分析知识点四投资回报率知识点五剩余所得知识点六平衡计分卡知识点一产品获利能力分析一、产品获利能力分析的应用1.用于揭示哪些产品的盈利性最强，哪些产品需要重新评估价格和成本，哪些产品需要提供最大力度的营销投入和支持。

2.作为产品线经理薪酬和奖金发放的依据。

知识点一产品获利能力分析二、是否取缔产品线的决策（一）决策步骤1.加总因取缔该产品线而消失的所有可追溯至该产品线的变动成本与固定成本。

可追溯固定成本是专属于某产品线或某部门的固定成本，如专门用于生产某种产品的设备的固定维护费用，用于推广某产品的广告费等。

与决策相关的固定成本只是可追溯固定成本，即取缔产品线会随之消失的固定成本。

共同成本即使某产品线被取缔也不会随之消失，因而与终止某项营运的决策无关。

共同成本只能从公司总贡献额中扣减。

知识点一产品获利能力分析2.加总机会成本，即取缔该产品线将丧失掉的所有销售收入。

3.若：取缔该产品线所带来的成本削减效益＞机会成本，则二者之差即为取缔该产品线导致的利润增加额，此时应取缔该产品线。

也可以直接判断产品线“扣减所有相关成本后的剩余贡献”是否大于零来决策。

扣减所有相关成本后的剩余贡献＝边际贡献―可追溯固定成本-机会成本＝（销售收入―变动成本）―可追溯固定成本-机会成本知识点一产品获利能力分析机会成本是指取缔某产品线后对其他相关产品边际贡献的影响（假设共同成本不受影响）。

例如，某产品线取缔后，会导致相关产品销量减少，由此减少的相关产品边际贡献，就是取缔该产品线的一项机会成本。

知识点一产品获利能力分析举例：Bounce体育用品公司的网球产品线盈利而美式壁球产品线不盈利，则可以对美式壁球生产线实施产品获利能力分析，以确定如果取缔该生产线，会给公司利润带来什么影响。

高顿财经CMA讲义——Job-Order Costing-4

Learning Objective 4Use T-accounts to show the flow of costs in a job-order costingsystem.susan p126Raw MaterialslMaterial Purchases Mfg. OverheadWork in Process (Job Cost Sheet)Actual Applied l Direct MaterialslDirect Materialsl Indirect Materialsl Indirect MaterialsSummary of Cost Flows27susan p1Mfg. OverheadSalaries and Wages PayableWork in Process (Job Cost Sheet)lDirect Materials lDirect Labor l Direct Laborl Indirect Laborl Indirect Materials Actual Appliedl Indirect LaborSummary of Cost Flows28susan p1Mfg. Overheadl Indirect Materials Actual Applied l Indirect Labor Summary of Cost Flowsl Other OverheadIn addition to indirect materials and indirect labor, other actual manufacturing overhead costs are debited to the Manufacturing Overhead account.29susan p1Learning Objective 6Apply overhead cost toWork in Process using a predetermined overhead rate.susan p130Work in Process (Job Cost Sheet)lDirect Materials l Overhead Appliedl Direct Labor If actual and applied manufacturing overheadare not equal, a year-end adjustment isrequired.Summary of Manufacturing Overhead CostFlowsMfg. Overheadl Overhead Applied toWork in Process l IndirectMaterials Actual Appliedl IndirectLaborl Other Overhead31susan p1Accounting for NonmanufacturingCostsNonmanufacturing costs are not assigned to individual jobs, rather they are expensed in the period incurred.Income StatementExpensenonmanufacturingcosts as incurred.susan p132Finished GoodslCost of Goods Mfd.lCost of Goods Mfd.Work in Process (Job Cost Sheet)lDirect Materials l Direct Labor l Overhead AppliedSummary of Goods ManufacturedCost Flows33susan p1Learning Objective 5 Prepare schedules of cost of goods manufactured and costof goods sold.susan p134Summary of Job-Order System CostFlowsFinished GoodsCost of Goods SoldWork in Process (Job Cost Sheet)lDirect Materials l Direct Labor l Overhead AppliedlCost of Goods Mfd.lCost of Goods Mfd.lCost of Goods SoldlCost of Goods Sold35susan p1。

课件：CH 03 订单法(分批法)Job order Costing

POHR =
$640,000
160,000 direct labor hours (DLH)
POHR = $4.00 per DLH
For each direct labor hour worked on a particular job, $4.00 of factory overhead will be applied to that job.
company estimates that 40,000 units will be produced and sold next year.
Traditional Method
=
$100,000 40,000
= $2.50 per unit
Capacity Method
=
$100,000 50,000
40,000 cases $40.00 per case $24.00 per case $100,000 per year 40,000 cases
$2.50 per case $500,000 per year
Revenue Cost of goods sold Gross margin Cost of idle capacity Selling and admin. expense Net operating income
Overhead Application Rate
POHR =
Estimated total manufacturing overhead cost for the coming period
Estimated total units in the allocation base for the coming period

COST04Job Order Costing(成本管理会计-复旦, 洪剑鞘)

4-3
Learning Objectives
5
6 7
Track the flow of costs in a job-costing system Prorate end-of-period under- or overallocated indirect costs using alternative methods Apply variations of normal costing
4-4
成本核算流程－对外报告
1、按照成本计算目的，确定成本核算对象，如产品种类、产品批别等。 2、划分生产成本和期间费用的界限，生产成本指应计入产品成本的那部分费用。 3、在生产成本中，划分直接成本和间接成本，即为每个成本核算对象确定直接成本项目（如直接材料、直接人工等）。
4-5
成本核算流程－对外报告
4 - 16
Job-Costing and Process-Costing Systems
In a job-costing system, the cost object is an individual unit, batch, or lot of a distinct product or service called a job. In process costing, the cost object is masses of identical or similar units or a product or service.

4 - 23
General Approach to Job Costing
Step 1: The cost object is Job 100. Step 2: Identify the direct costs of Job 100. Direct material = $45,000 Direct manufacturing labor = $14,000

2020美国管理会计师(CMA) P1 第四章成本管理第1讲

第四章成本管理第一讲辅导课件知识点总结：1.变动成本和固定成本直接材料——变动成本直接人工——变动成本变动间接费用（水电）间接费用固定间接费用（折旧）变动销管费用（运费、薪酬）销管费用固定销管费用（广告费）2.总成本Y=a+bX以单位变动成本为b，以固定成本为a，以产量为X，以总成本为Y，3.产能理论产能≥实际产能≥正常产能利用≥总预算产能利用4.成本动因作业成本动因关注于营运包括生产或服务作业，如机器安装、机器使用、包装、收银笔数等。

数量成本动因关注于产出，包括总量尺度，如产品数量、人工工时数。

结构性成本动因关注于企业战略（长期计划），包括：规模（如建了多少个商店，拥有多少个员工）、复杂性（企业产品越标准化成本越低，如麦当劳，反之企业产品结构越复杂成本越高）、经验水平（企业对该行业经验的高低决定成败的小或大）、技术（技术投入越大成本越低，反之越高）。

执行性成本动因关注于短期营运，包括：员工参与（员工越参与成本控制，成本越低）、生产流程设计（关注某些生产流程耗用了多少成本，能否通过简化流程来降低成本）、供应商关系1.下面哪一项可能不会归入生产成本。

A冰淇淋制造厂商用的奶油B冰淇淋制造厂商的厂房财产税C汽车制造商支付的销售佣金.D汽车制造商的轮胎成本【答案】C【解析】选项A不正确。

冰淇淋制造厂商用的奶油应计人直接材料成本。

选项B不正确。

冰淇淋制造厂商的厂房财产税应计入制造费用。

选项C正确。

汽车制造商支付的销售佣金不属于生产成本，属于销售费用，其他三项都属于生产成本。

选项D不正确。

汽车制造商的轮胎成本应计入直接材料成本。

2.什么是酌量成本（）A、受某一经理控制的成本B、由过去基于战略产能投入的成本，并且只随着资本的改变有小幅度变化C、经理为实现公司制定的目标而发生的成本与客户的订单量无关.D、不能由经理控制的成本【答案】C【解析】A选项错误，因为受某一经理控制的成本既可能是固定成本也可能是变动成本，而酌量成本首先应该是一种固定成本；B选项错，因为属于既定成本的定义，和产能有关，又是前期的投入引起的；C选项正确，因为其与订单量无关，说明其为固定成本，同时又是经理为实现公司制定的目标而发生的，说明是取决于管理层决定的，所以符合酌定固定成本的定义。

CMA考试新考纲(官方)-part one 3 (1)

5
成本动因

Cost Drivers

作业成本动因 – 关注营运，图表1C-3 数量成本动因 – 关注产出，图表1C-4 结构成本动因 – 基于整体战略，规模，经验水平，技术和复杂度执行成本动因 – 员工参与，生产过程设计，供应商关系 Activity-based cost drivers - focus on operation, Figure 1C-3, page 201 Volume-based cost drivers – focus on output, Figure 1C-4, page 202 Structural cost drivers – based on overall strategy, scale, experience level, technology, and complexity Executional cost drivers – workforce involvement, production process design, supplier relationships
市场基础法

Market-based Methods of Allocation Joint Costs to Joint Products

Sales value at split-off method – example, page 211
13
联产品和副产品成本法 Joint Product and By-Product Costing 市场基础法

All joint cost considered manufacturing cost should be allocated to joint products

管理会计双语人教版--Job-Order-Costing

Used to authorize the use of materials on a job Serves as a source document for recording material
usage
MATERIALS REQUISITION NO. _____ Date: _______ Item no. Item
◦ Accounting firms ◦ Music studios ◦ Building contractors ◦ Health-care providers
Accumulates cost per batch or job
More prevalent with servicebased economies and ERP systems
Job Order Costing
Process Costing
4
Learning Objective 2
Record materials and labor in a job order costing system
5
Flow of Costs
Ledger accounts
Job 1 Job Cost Record
GENERAL JOURNAL
DATE
DESCRIPTION
Work in process inventory
Manufacturing overhead
Materials inventory
REF DEBIT
Direct materials Indirect materials
CREDIT
Subsidiary Materials Ledger Card
Job Order Costing

JOB ORDER COST ACCOUNTING

Direct Materials Date Req. Cost 3/7/11 R-4705 $ 225
Direct Labor Date Ticket Cost
Factormy Oevaernhesadof a Date wRoatrek reCcoostrd,
such as a time
Total
Customer Carroll Connor
Job No. B15
Address 1542 High Point Dr. Portland, Oregon
A materials requisition Job Description Level I Alarm System on Ford Expedition
Job No. B15
Address 1542 High Point Dr. Portland, Oregon
Job Description Level I Alarm System on Ford Expedition
Remarks
Date Provided 3-7-11
Received By C. Luther
19 - 10
P1
MATERIALS REQUISITION
Cost of material is charged to Job B15.
Proper authorization
Road Warriors Materials Requisition No. R-4705
Job Description Level I Alarm System on Ford Expedition
Date promised 3/15/11 Date started 3/3/11

高顿财经CMA讲义——Job-Order Costing-3

Learning Objective 3 Compute predetermined overhead rates and explain why estimated overhead costs (rather than actual overhead costs) are used in thecosting process.susan p118Application of Manufacturing Overhead The predetermined overhead rate (POHR) used to apply overhead to jobs is determined before the period begins.Estimated total manufacturingoverhead cost for the coming period POHR =Estimated total units in theallocation base for the coming period Ideally, the allocation baseis a cost driver that causesoverhead.susan p119Application of Manufacturing Overhead •Actual overhead for the period is notknown until sometime after the period has ended.Actual overhead costs can fluctuate seasonally, thus misleading decision makers. It simplifies recordkeeping.•Using a predetermined overhead rate (POHR) makes it possible to estimate total job costs sooner.susan p120Application of ManufacturingActual amount of the allocationbased upon the actual level ofactivity (this is called a normalcosting system).susan p121Application of Manufacturing OverheadFor each direct labor hour worked on aparticular job, $4.00 of factory overheadwill be applied to that job.POHR = $4.00 per DLH$640,000160,000 direct labor hours (DLH)POHR =Estimated total manufacturing overhead cost for the coming periodEstimated total units in theallocation base for the coming periodPOHR =22susan p1Application of Manufacturing OverheadCompleting the Job Cost SheetInterpreting the Average Unit Cost The average unit cost should not be interpreted as the costs that would actually be incurred if an additional unit were produced.Fixed overhead would not change if another unit were produced, so the incremental cost ofanother unit is something less than $118.susan p125。

分批成本计算法(中英对照)

2.WPP298批次之原始憑證為分批成本記錄（job cost record），又稱分批工作單或分批成本單
（job cost sheet）。係用來累積指派至批次之所有成本的主要憑證，分批成本單於每批次工作一開始就存在。
分批成本制度之一般方法
General Approach to Job Costing
• 現代科技提供管理者快速且精確之產品成本資訊，使得管理與控制之任務更易進行。
• 成本制度中之原始憑證以電腦記錄方式存在，可以減少人類之干擾，並可提高個別批次之材料與工時等記錄之精確性。
• 使用電子資料交換（Electronic Data Interchange, EDI）科技
科技之角色
The Role of Technology
間接成本庫
Indirect-cost pool
所有製造費用
All manufacturing overhead costs
間接成本分攤基礎
Indirect costAllocation base
直接人工小時 Direct manufacturing
Labor-hours
直接人工小時(每小時$45)
Actual costing is a system that uses actual costs to determine the cost of individual jobs.
•實際成本制係以實際間接成本率 ×成本分攤基礎之實際數量，作為分攤間接成本之基礎。
It allocates indirect costs based on the actual indirectcost rate(s) times the actual quantity of the costallocation base(s).

选择成本分摊基数

Spoilage, rework, and scrap in job costing

Formula - page 524
12
分批成本法与分步成本法 Job Order versus Process Costing

分批成本法下的损耗、返工及废料处理

返工 – 完工产品需要额外工作量，特定批次的正常返工，所有批次的正常返工，非正常返工废料 – 产品的一部分或剩下的材料，没有经济价值，相对于特定批次或所有批次 Rework – finished product need additional work, normal defective for a specific job, normal defective units common with all jobs, abnormal defective units Scrap – a portion of a product or leftover material that has no economic value, relates to specific job or common to all jobs 13
第二节：成本制度
Topic 2: Costing System
1
制造业的成本流 Cost Flows in a Manufacturing Organization

制造业的成本流程图 – 图表1D-11，1361页
分批成本法 – 给特定批次，成本可以轻易地追溯给产品、项目或服务

分步成本法 – 给同质的产品，不需要将产品追溯给特定的单个产品或服务
710,000
355,000 ￥2,085,000 ￥2,085,000

管理会计 (30)

Lesson 8 Part 2Job-order Costing-Cost FlowsHey guys! Welcome! After learning about job cost sheet with the illustration of an example PearCo, now we move on to the Flow of Costs in a Job-Order Costing system and corresponding journal entries.第2张PPTThe entire accounting process begins when a sales order is received from a customer.Once the sales order is received, a production order is drafted to initiate work on a job.第3张PPTFrom the production order, we are able to determine the direct and indirect materials that we will need to requisition from the store room. We now know that the materials requisition form is a critical source document in the preparation of the job cost sheet.Direct material costs are charged to specific jobs. Indirect material costs are included in manufacturing overhead.第4 张PPTAs employees work on the job covered by the production order, timetickets are prepared for recording both direct and indirect labor costs. Direct labor costs are charged to specific jobs. Indirect labor costs are included in manufacturing overhead.第5张PPTIndirect materials and indirect labor are parts of manufacturing overhead. Other overhead costs are charged to the manufacturing overhead account as incurred.As we have seen, the predetermined overhead rate is used to apply manufacturing overhead costs to jobs.第6张PPTThe transactions, both in T-account and journal entry form, that capture the flow of costs in a job-order costing system will be illustrated on the screen in detail.第7张PPTWhen raw materials are purchased they are debited to the raw materials inventory account and credited to accounts payable.The cost of direct material requisitions is debited to Work in Process and added to the job cost sheet which serves as a subsidiary ledger.To account for the indirect materials requisition, the manufacturingoverhead account is debited and the raw materials inventory account is credited.第8张PPTHere is an example of the general journal entry to record the purchase of raw materials on account. We debit raw materials and credit accounts payable.第9张PPTWhen materials are requisitioned from raw materials inventory, we debit work in process for direct materials, and debit manufacturing overhead for indirect materials.第10张PPTDirect labor is debited to Work in Process and added to the job cost sheet which serves as a subsidiary ledger and credited to salaries and wages payable.Indirect labor is debited to Manufacturing Overhead and credited to salaries and wages payable.第11张PPTThe cost of direct labor is debited to Work in Process account, while theindirect labor is debited to the Manufacturing Overhead account. The cost of labor, both direct labor and indirect labor, is credited to the Salaries and Wages Payable account.第12张PPTAdditional manufacturing overhead amounts are debited to the manufacturing overhead account. The debit side of the manufacturing overhead account represents actual overhead incurred during the period. The credit side of the entry is the various liability accounts, for example, accounts payable and property taxes payable. The credit side will also include prepaid assets, like prepaid insurance, and contra accounts for items like depreciation.第13张PPTThis journal entry represents the accumulation of other actual overhead amounts like property taxes on the manufacturing plant, insurance on the plant structure and depreciation of manufacturing assets.第14张PPTThe manufacturing overhead account is a clearing account. The actual amount of overhead incurred during the period on the debit side of the account will almost certainly not equal the amount applied to work inprocess on the credit side of the account. This requires a year-end adjustment.When we apply overhead to a particular job, we debit work in process inventory and credit the manufacturing overhead account. Amounts on the credit side of the manufacturing overhead account represent overhead applied.第15张PPTThis journal entry shows the application of overhead to work in process inventory. For applied overhead, we debit work in process and credit manufacturing overhead.第16张PPTWe previously discussed the treatment of selling, general, and administrative salaries expense during the period. Nonmanufacturing costs are charged to the respective expense accounts in the period the expenses were incurred.第17张PPTThese journal entries illustrate the expensing of nonmanufacturing costs in the current period.第18张PPTThe sum of all amounts transferred from work in process to finished goods represents the cost of goods manufactured for the period. As a job is completed, its costs are transferred from the work in process inventory to finished goods inventory.第19张PPTThe transfer is accomplished with a debit to finished goods inventory and a credit to work in process inventory.第20张PPTWhen a finished job is sold to the customer, the cost of that job is transferred from finished goods inventory to cost of goods sold. Recall that cost of goods sold is an income statement account. If only a portion of the units associated with a particular job are shipped, then the unit cost figure from the job cost sheet is used to determine the amount of the journal entry.第21张PPTAssuming the company uses a perpetual inventory system. Two journal entries are required to record the sale.The first entry is to debit either accounts receivable or cash and creditsales for the selling price of the job completed.The second entry is to debit cost of goods sold and credit finished goods inventory for the cost incurred to complete the job.The difference between the selling price and cost is the company’s gross margin on the job.This is the end. Thank you!。