Discuss cost systems and the flow of costs in a job order system Discuss how to...

Discuss cost systems and the flow of costs in a job order system

Discuss how to determine and use a predetermined overhead rate - include how to calculate the predetermined overhead rate

Discuss journal entries for assigning costs to jobs and what entries are needed when a jobs is completed and sold

Discuss under and overapplied manufacturing overhead

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ekkarill92 answered 8 months ago

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1) Describe cost systems and the flow of costs in a job order system? 2) How...

1) Describe cost systems and the flow of costs in a job order system? 2) How does a company determine and use the predetermined overhead rate? 3) Distinguish between under- and overapplied manufacturing overhead and what does each mean to the company?

describe the flow of manufacturing cost in a Job Order Cost System.

Entries for Costs in a Job Order Cost System Velasco Co. uses a job order cost...

Entries for Costs in a Job Order Cost System Velasco Co. uses a job order cost system. The following data summarize the operations related to production for July: Materials purchased on account, $695,900 Materials requisitioned, $584,560, of which $75,990 was for general factory use Factory labor used, $716,780, of which $136,190 was indirect Other costs incurred on account for factory overhead, $167,020; selling expenses, $257,480; and administrative expenses, $153,100 Prepaid expenses expired for factory overhead, $32,010; for selling expenses, $27,140;...

Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost...

Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost system. The following data summarize the operations related to production for July: Materials purchased on account, $732,780 Materials requisitioned, $615,540, of which $80,020 was for general factory use Factory labor used, $754,760, of which $143,400 was indirect Other costs incurred on account for factory overhead, $175,870; selling expenses, $271,130; and administrative expenses, $161,210 Prepaid expenses expired for factory overhead, $33,710; for selling expenses, $28,580;...

Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost...

Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost system. The following data summarize the operations related to production for July: Materials purchased on account, $496,630 Materials requisitioned, $417,170, of which $54,230 was for general factory use Factory labor used, $511,530, of which $97,190 was indirect Other costs incurred on account for factory overhead, $119,190; selling expenses, $183,750; and administrative expenses, $109,260 Prepaid expenses expired for factory overhead, $22,840; for selling expenses, $19,370;...

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Discuss cost systems and the flow of costs in a job order system Discuss how to...

Solutions

Expert Solution

Related Solutions

1) Describe cost systems and the flow of costs in a job order system? 2) How...

describe the flow of manufacturing cost in a Job Order Cost System.

Entries for Costs in a Job Order Cost System Velasco Co. uses a job order cost...

Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost...

Entries for Costs in a Job Order Cost System Munson Co. uses a job order cost...

1. Explain how direct labor costs flow through a job-order cost system. 2. Explain how manufacturing...

Discuss the uses of a process cost system and how it compares to a job order...

Discuss the uses of a process cost system and how it compares to a job order...

Two primary Cost Accounting Systems are the job order cost system and the process cost system....

Describe and record the flow of materials costs in job order cost accounting?