Beruflich Dokumente
Kultur Dokumente
CHAPTER
Job-Order
Costing
5 -2
Objectives
1. Describe theAfter
differences
between
studying
this job-order
costing and chapter,
process costing,
and
identify
the
you should
types of firms that
use each method.
be would
able to:
2. Identify and set up the source documents used
in job-order costing.
3. Describe the cost flows associated with joborder costing.
4. Appendix: Prepare the journal entries
associated with job-order costing.
5 -3
5 -4
BEAT
SOUTH
HIGH
5 -5
similar or homogeneous
products
Cost accumulated by process or
5 -6
Process or
job-order
costing?
Process
Process
Job order
Advertising agency
Law firm
Job order
Job order
5 -7
Job-Order Costing
Job 425
Job 426
Job 427
Total
5 -8
Johnson Leathergoods
5 -9
July 1
3
105
Direct Labor
July 1
3
3 hrs. @ $10.00 = $ 30
7 hrs @ $10.00 =
70
Factory Overhead
July 7 10 dlh x $2
$ 20
A job-cost sheet is a
document used to
accumulate the cost for
a specific job in a jobcost system
5 -10
Johnson Leathergoods
Unit Cost
Direct materials
Direct labor
Applied Overhead
Total cost
number of units
Unit cost
$1,000
1,080
240
$2,320
20
$ 116
5 -11
Johnson Leathergoods
Date
Department
Job
Description
Material Requisition
Number 12
Buckles
10
Authorized Signature
Cost/Unit
Total Cost
$30
$300
Jim Lawson
5 -12
Johnson Leathergoods
Employee Number 4
Name
Ed Wilson
Date
January 12, 2003
Start Time Stop Time Total Time Hourly Rate Amount Job Number
8:00
10:00
11:00
1:00
10:00
11:00
12:00
5:00
Authorized Signature
2
1
1
4
$9
9
9
9
Jim Lawson
Department Supervisor
Job Time Ticket
$18
9
9
36
Backpacks
Briefcases
Backpacks
Backpacks
5 -13
5 -14
$0
2,500
1,500
1,000
1,000
20
$500
10
5 -15
170
x $9
$ 1,530
$ 1,000
1,080
20
$ 500
450
10
5 -16
Purchasing
100
Machining
2,800
Other
4,800
5 -17
3
60
120
Briefcases:
Purchase orders
Machine hours
Direct labor hours
1
30
50
5 -18
Purchasing:
3 orders x $30
1 order x $30
Machining:
60 hours x $1.50
30 hours x $1.50
Other:
120 DLH x $0.50
50 DLH x $0.50
Total overhead applied
$ 90
$30
90
45
60
$240
25
$100
5 -19
5 -20
Applied Overhead
Direct labor hours
170
Overhead rate
x $2
Total applied overhead $340
5 -21
$200
50
100
65
$415
$1,000
1,080
240
20
Applied Overhead
Direct labor hours
Overhead rate
Total applied overhead
$170
x $2
$340
$500
450
100
10
5 -22
$1,000
1080
240
$2,320
20
$116
$2,320
$500
450
100
$1,050
Johnson Leathergoods
Schedule of Cost of Goods Manufactured
For the Month Ended January 31, 2004
Direct materials:
Beginning raw materials inventory
$
0
Purchases of raw materials
2,500
Total raw materials available for use
$2,500
Ending raw materials
1,000
Total raw materials used
Direct labor
Overhead:
Lease
$ 200
Utilities
50
Depreciation
100
Indirect labor
65
$ 415
Continued
5 -23
$1,500
1,530
5 -24
$ 415
75
340
$3,370
0
$3,370
1,050
$2,320
5 -25
2,320
$2,320
0
$2,320
75
$2,395
5 -26
Johnson Leathergoods
Income Statement
For the Month Ended January 31, 2004
Sales
Cost of goods sold
Gross margin
Less selling and administrative expenses:
Selling expenses
Administrative expenses
Net operating income
$3,480
2,395
$1,085
$200
550
750
$ 335
5 -27
Journal Entries
Associated With JobOrder Costing
Johnson Leathergoods
5 -28
Johnson Leathergoods
1 Materials
2 500 00
2 500 00
5 -29
Johnson Leathergoods
2 Work in Process
1 500 00
500 00
5 -30
Johnson Leathergoods
3 Work in Process
1 530 00
5 -31
Johnson Leathergoods
4 Work in Process
340 00
340 00
5 -32
Johnson Leathergoods
5 Overhead Control
415 00
200 00
50 00
100 00
65 00
5 -33
Johnson Leathergoods
6 Finished Goods
2 320 00
2 320 00
5 -34
Johnson Leathergoods
7 Cost of Goods Sold
2 320 00
7 Accounts Receivable
2 320 00
3 480 00
Sales Revenue
3 480 00
5 -35
Johnson Leathergoods
8 Cost of Goods Sold
75 00
75 00
5 -36
Johnson Leathergoods
Materials
(1)
2,500
5 -37
Johnson Leathergoods
Materials
(1) 2,500 (2) 1,500
Work in Process
(2) 1,500
5 -38
Johnson Leathergoods
Work in Process
Wages Payable
(2) 1,500
(3) 1,530
(3) 1,530
5 -39
Johnson Leathergoods
Work in Process
(2) 1,500
(3) 1,530
(4)
340
Overhead Control
(4)
340
5 -40
Johnson Leathergoods
Overhead Control
Work in Process
(2) 1,500
(3) 1,530
(4) 340
(5)
415 (4)
340
5 -41
Johnson Leathergoods
Finished Goods
Work in Process
(2) 1,500 (6)
(3) 1,530
(4) 340
2,320
(6)
2,320
5 -42
Johnson Leathergoods
Finished Goods
(6)
2,320 (7)
2,320
Accounts Receivable
(7)
2,320
Sales Revenue
3,480
(7)
3,480
5 -43
Johnson Leathergoods
Overhead Control
(5)
415
(4)
(8)
340
75
2,320
75
5 -44
Chapter Five
The End
5 -45