Sumários

27 Fevereiro 2024, 16:00 • James M. Kohlmeyer, III

Chapter 4 Lesson (Tues & Wed classes)

In-class exercises: E21, E23, E25

26 Fevereiro 2024, 15:00 • James M. Kohlmeyer, III

I. Introduction

A. Job-order vs. Process costing

B. Examples:

1. Job-order: house, Hollywood movie, outfits for dance recital, advertising campaign, Taylor Swift concert

2. Process costing: Coke drink, aspirin. Cereal

II. Normal Cost systems

A. Sequence of events

B. Source documents

C. Calculating predetermined OH rate

1. Timeliness issue of OH

2. POH (predetermined OH) rate calculated at beginning of the year

3. Steps to calculate applied (allocated) OH

III. Job-cost flows

A. Flow of costs: Exhibit 6

B. Flow of costs 2: t-accounts Exhibit 7

C. Nonmanufacturing costs

D. Journal entries and t-accounts

IV. Manufactured Overhead Account

A. Contra account (tracks actual & applied OH)

B. Reconciliation of OH (end of year)

1. Overapplied OH:

Applied (allocated) OH > Actual OH

2. Underapplied OH:

Applied (allocated) OH < Actual OH

3. Dispose to COGS or prorated. Most disposal of over (under) applied OH go directly to COGS (proration is rarely done in practice)

* Do Self-study Problem in text (very good example and practice)

23 Fevereiro 2024, 17:30 • James M. Kohlmeyer, III

Additional exercises: Chap 2: E23, E25, E34, P40

23 Fevereiro 2024, 13:30 • James M. Kohlmeyer, III

Additional exercises: Chap 2: E23, E25, E34, P40

21 Fevereiro 2024, 15:30 • James M. Kohlmeyer, III

In-class exercises: E22, E24, E27, E31