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 1 year ago

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...

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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...

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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?