...WEEK 3 DQ 2 JOB ORDER AND PROCESS COSTING ASH COURSE To purchase this visit here: http://www.nerdypupil.com/product/acc-206-week-3-dq-2-job-order-and-process-costing-ash-course/ Contact us at: nerdypupil@gmail.com ACC 206 WEEK 3 DQ 2 JOB ORDER AND PROCESS COSTING ASH COURSE Job Order and Process Costing. Manufacturers use three inventory accounts. Name each one and explain what costs each contain. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 206 Week 3 DQ 2 Job Order and Process Costing Ash Course in order to ace their studies. ACC 206 WEEK 3 DQ 2 JOB ORDER AND PROCESS COSTING ASH COURSE To purchase this visit here: http://www.nerdypupil.com/product/acc-206-week-3-dq-2-job-order-and-process-costing-ash-course/ Contact us at: nerdypupil@gmail.com ACC 206 WEEK 3 DQ 2 JOB ORDER AND PROCESS COSTING ASH COURSE Job Order and Process Costing. Manufacturers use three inventory accounts. Name each one and explain what costs each contain. Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 206 Week 3 DQ 2 Job Order and Process Costing Ash Course in order to ace their studies. ACC 206 WEEK 3 DQ 2 JOB ORDER AND PROCESS COSTING ASH COURSE To purchase this visit here: http://www.nerdypupil.com/product/acc-206-week-3-dq-2-job-order-and-process-costing-ash-course/ Contact us at: nerdypupil@gmail.com ACC 206 WEEK 3 DQ 2 JOB ORDER AND PROCESS COSTING ASH COURSE Job Order and Process...
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...Job Costing Summary The cost accounting system is used to accurately record, measure and report product manufacturing costs. It is critical to for such system to provide up-to-date information for the product cost. There are two types of cost accounting system, the job order cost system and the process cost system. The former system (job order cost) is suitable for production that will varies in characteristics from job to job. Each production might have different raw materials or a different labor time as well as overhead rate, so it is important to record all these differences and correctly assign costs to specific products. The latter, the process cost system, is a system that is best used for production of a large volume of similar products. With job order cost system, the flow of costs such as raw materials, direct labor, and overhead cost will reflect the actual physical flow of materials into finished goods as detailed below: Accumulation of direct material, labor and overhead cost – a manufacturer will debit these account to record all the costs. Assignment of cost to jobs – as the materials and labor has been requested; the company will assign these costs to a specific job (into the work in process account) or into an overhead costs if it is not directly related to a specific job. Then, the company will record the predetermined overhead rate into work in process account (a company might use either direct labor hour, direct labor cost, or machine hour as an activity...
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...Job-Order Costing Jenis Sistem Akuntansi Biaya Job-order biaya adalah salah satu dari banyak sistem penetapan biaya akuntansi yang berbeda.Mencari sistem yang tepat untuk sebuah bisnis adalah kunci untuk pemantauan dan pengendalian biaya.Ada berbagai jenis sistem penetapan biaya manajemen dan biaya yang akuntan mungkin datang.Masing-masing sistem penetapan biaya ini dapat menangani entri tertentu dengan cara yang berbeda. Satu jenis sistem penetapan biaya yang populer di industri tertentu disebut penetapan biaya job-order. Penetapan biaya job-order dapat digunakan dalam beberapa keadaan di mana jenis biaya lainnya seperti penetapan biaya proses atau biaya normal tidak akan efektif. What Is Job-Order Costing? Penetapan biaya job-order adalah sistem biaya yang digunakan untuk mengumpulkan biayadengan pekerjaan. Pekerjaan ini juga bisa disebut batch, karena setiap pekerjaan umumnyamerupakan "batch" dari produk serupa. Setiap bets harus individual dalam beberapa cara untuk membuatnya berbeda dari batch lain untuk itu menjadi pekerjaan yang terpisah. Jika batch semuaidentik, jenis lain dari penetapan biaya akan lebih tepat. The Job-Order Costing Process . Ketika suatu perusahaan beroperasi dengan menggunakan penetapan biaya job-order, sebuahrangkaian peristiwa tertentu biasanya akan terjadi dengan setiap pekerjaan. Secara umum, prosesadalah sebagai berikut: • Perintah (atau sales order) yang diterima untuk batch produk • Sebuah pesanan produksi dikeluarkan dari pesanan penjualan ...
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...三 True/False Questions 1. Job-order costing is used in manufacturing companies and process costing is used in service companies. Ans: False AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting LO: 1 Level: Easy 2. A flour manufacturer is more likely to use process costing than job-order costing whereas a manufacturer of customized leather jackets is more likely to use job-order costing than process costing. Ans: True AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting LO: 1 Level: Easy 3. Normally a job cost sheet is not prepared for a job until after the job has been completed. Ans: False AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting LO: 2 Level: Medium 4. Job cost sheets contain entries for actual direct material, actual direct labor, and actual manufacturing overhead cost incurred in completing a job. Ans: False AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting LO: 2 Level: Easy 5. Multiple departmental overhead rates generally provide more accurate product costs than a single plant-wide overhead rate. Ans: True AACSB: Reflective Thinking AICPA BB: Critical Thinking AICPA FN: Reporting LO: 3 Level: Easy 6. If direct labor-hours is used as the allocation base in a job-order costing system, but overhead costs are not caused by direct-labor-hours, then jobs with high direct labor requirements will tend to be overcosted relative to jobs with low direct labor requirements. Ans: True...
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...manufactures custom-order holiday decorations and display items. Currently the company is using a periodic inventory system and is not satisfied with the timeliness of its information and its inventory management. The following paragraphs outline a proven system known as job order cost accounting that will generate timely and accurate inventory information. Job order cost accounting is used by many businesses that have to meet the specific needs of multiple customers by producing or performing custom jobs. There are still companies out there that rely on a general accounting system which consists of periodic inventories, this does not benefit them due to many discrepancies involved with these types of inventories. A cost accounting system records using a perpetual inventory system. This system continuously updates the records such as costs of materials, goods in process, and finished goods inventories. Under a job order cost system, costs are allocated to each job or batch of goods; at all times each job or lot of goods can be independently identified. A job order cost system measures costs for each completed job, rather than for set time periods. Most stores today use this system as an inventory tool, so when an item is scanned and sold the system automatically removes the item from the store inventory and sends this data to the central store hub. The data sent to the hub enables them to see what items have been sold and based on that data an order is created to...
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...Process Costing - The Hershey Company/ Kaiser Aluminum Process costing is used mostly in companies when converting raw materials into homogenous products. A single product is produced on a continuous basis and all units of the product are identical. Costs are computed by department where the materials, labor, or overhead costs are added to the product in the processing department. Our two companies, The Hershey Company and Kaiser Aluminum, convert raw materials to their finished products of chocolate and aluminum. The Hershey Company's main raw materials come from cocoa products such as cocoa liquor, cocoa butter and cocoa powder that is processed from cocoa beans. They continuously make certain chocolate products under their brand name or franchise. Under their annual report it states that their cost of sales represents the costs directly related to the manufacture and distribution of their products. These costs are the raw materials, packaging, direct labor, overhead, shipping and handling, and warehousing and distribution facilities. Their manufacturing overhead includes salaries, wages, utilities, maintenance and property taxes. This shows why The Hershey Company would use process costing because their costs are traced to only a few departments and there aren't significant differences among the costs of various products. They are continuously making large batches of chocolate products and use an assembly line of mixing, refining, molding and wrapping to do it. Kaiser Aluminum...
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...individual site locations: * On the job training is the primary method for employees to learn policies and procedures. * An order will come into Pizza Inc. it will be written down on pre-numbered pads. The date, time of call, name, address, phone number, type of crust, and toppings requested are all taken down. If mistakes are made the pre-numbered order form will be thrown out and a new sheet will be used. * After the order is taken the employee will then calculate the pricing using hand calculators and give the customer a price and then record it on the order form. * Shift manager then check every order to make sure that the information is complete prior to processing the order. * The orders are then made using instructions that have the proper quantity of ingredients for each pizza. * Oven temperatures are monitored closely to make sure pizza is cooked correctly. Cook time is monitored using a centrally located wall clock. Cooking guidelines are posted for each pizza to tell what to do if the pizza is overcooked. * After the pizza is done an employee will cut, box and hand labeled for delivery. * Deliveries are assigned to the next driver based on first in first out method. The benchmark delivery time is 25 minutes from the time the order was placed. * The manager checks the inventory on hand at the end of each shift. B. Ten business risks for Pizza Inc. * Order forms after the call may get lost or thrown...
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...SALES ORDER PROCESS The sales order process was documented to allow for the smooth flow of sales orders through to invoices and deliveries. It is meant to act as a guide for employees when executing this system. The goal is to set standards and alleviate or minimise errors. This is intended to give additional confidence to everyone involved in this process and to enhance the customer experience in every transaction with the company. The Sales Manager would be closest to this process. To achieve the desired goals and objectives, he should strive to accomplish sales targets with the least amount of cost, time and resources involved. Having a documented system will raise efficiency providing that the system is operating well and everyone has the knowledge and skills to use it. Every system will need to be upgraded using proven techniques of continuous improvement to make the system more efficient. A system is known as a group of parts, events, or processes that are interdependent and connected together in a distinct form. The point is bringing together each part through systems thinking so that the whole organisation survives and thrives. Undoubtedly a lot can go wrong with a system and therefore we must consider a few things. Here are some that are applicable: * Connections between departments across the organisation * Asking the five whys (Grubb, 2008)to find the root of a problem * Patterns of behaviour * Use a systematic six step process to solve...
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...Business Technology – How has it improved or not improved business needs Alicia N.Swann University of Phoenix TEC/401 – Human Factors in Technology Tynia Landry September 12, 2011 Abstract This research paper will discuss how the ever changing technology has or has not helped out the business needs within my company. The discussion will be on the computers, to printers, to ordering supplies, and even how employees sign in and out for payroll purposes. Business Technology – How has it improved or not improved business needs Computers The technology division at my place of employment is currently looking at ways to replace our current computers with energy efficient computers. In the past employees were asked to shut the computers down completely, however, that didn’t work for numerous reasons. The idea was brought up to replace our existing computers with energy efficient computers but still the computer must perform with high performance as the computers we currently have. As an administrative assistant it is sort of a benefit because assistants are the first line of employees who receive the newest or latest upgrades, however, it can also be a downfall. Many times with the new software it simply does not meet county expectations. When the expectations do not meet the standards it often times holds up the administrative work progress. This is due to the removal of the software that was installed, or the software didn’t work correctly, some computers we...
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...Andrew Quarless ENGL 202-D Leslie Robertson Mateer Spring 2009 Business Communication Essentials Practice Your Knowledge (pgs. 94-95, nos.1-47) The “You” Attitude: 1. We request that you have the order form supplied in the back of our catalog. So that your order is processed properly, please complete the order form located in the back of our catalog. 2. We insist that you always bring your credit card to the store. Having a credit card will most definitely provide a fast and enjoyable experience in the store. 3. We want to get rid of all our 15-inch monitors to make room in our warehouse for the 19-inch screens. Thus we are offering a 25 percent discount on all sales this week. This week only, receive a 25 percent discount when you purchase 15-inch monitors. 4. I am applying for the position of bookkeeper in your office. I feel that my grades prove that I am bright and capable, and I think I can do a good job for you. It will take a person who possesses all the applicable assets to fulfill your bookkeeper position; that candidate is me. 5. As requested, we are sending the refund for $25. On our behalf, a refund in the amount of $25 will be sent directly to you. Emphasizing the Positive: 6. To avoid the loss of your credit rating, please remit payment within 10 days. Submitting a payment within 10days will prevent any changes on your credit rating. 7. We don’t...
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...Who was the sender? | | Who was the receiver? | | What was the message? | | What channel was used to send the message? | | What was the misunderstanding that occurred? | | How could the misunderstanding have been avoided? | | 1. What did you learn about the communication process from this activity? 2. What seemed to be the main causes of the misunderstandings? Working as a manager at a small franchise business (gas station), my job is to make sure my employees are doing their jobs as there supposed to. Doing paper work and inputting all the invoices at the system is part of my job. I once briefly tolled one of the employees to input the gas invoices of a particular month that I hadn’t done. I was too busy taking care of something else. Come to find out that he had put the wrong gas invoice in, and that had ruined up all the order I had organized them in. I had to redo all the invoices of that year again. It took couple of hours of my time… The sender was me. The receiver was my employee. The message was to input the gas invoices of particular month. The channel was face to face. He misunderstood what month of invoice to input in the system I could have avoided the misunderstanding if I had personally given him the invoice in his hands and showed him where the invoice should be placed. 1. I learned to take my time to send the message clearly and make sure the receiver understands what is asked of him/her 2. The main cause was I...
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...mechanical engineer, had 20 years of experience in the connector industry with AMP Inc., a large multinational producer of electronic connectors. Mason Miller graduated from the Arizona State University in 1986 with joint degrees in chemistry and chemical engineering. The company was originally formed to provide manufacturers of elec¬tronic connectors with a source of high-quality, custom-designed molds for producing plastic parts. The market consisted mainly of the product design and development divisions of those manufacturers. Custom Molds worked closely with each customer to design and develop molds to be used in the customer’s product development processes. Thus, virtually every mold had to meet exacting standards and was somewhat unique. Orders for multiple molds would arrive when customers moved from the design and pilot-run development to large-scale production of newly designed parts. As the years went by, Custom Molds's reputation grew as a designer and fabricator of precision molds. Building on this reputation, the Millers decided to expand into the limited manufacture of plastic parts. Ingredient¬-mixing facilities and injection-molding equipment were added, and by the mid-1990s Custom Molds developed its reputation to include being a supplier of high-quality plastic parts. Because of limited capacity, the company con¬centrated its sales efforts on supplying parts that were used in limited quan¬tities for research and...
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...up the system or purchase ready software. Rafiq is a final year accounting student at UiTM Shah Alam decided to help his uncle who has a furniture business in Ipoh. Rafiq try to discover the problem that his uncle company faced which is the system used is not updated. Thus this will made the employee faced difficulty in order to record the daily transaction. Rafiq try to investigate the problem by asking several question to his friend and he get several solution for his problem. Which is either want to buy ready system or build up by them? To choose wisely, he needs to do several researches about previous system and also new system. We can see after this what Rafiq do in order get the better result about his problem. Several phase of research he need to do and he must carefully choose the system. This to make sure the system is compatible. 1) Apply SDLC approach to Rafiq situation. System Development Life Cycle (SDLC) is used to organize the large number of activities needed to build a system. It specifies in an orderly manner proceed through these activities to develop systems. In other words, SDLC is a phase that Rafiq’s need to recognize in order to build a new system for his company. There are five phases that Rafiq need to recognize which is system Planning, Analysis, Design, Construction and Maintenance. 1. System Planning * Initiate system planning – strategic and operation. This is an initial phase that Rafiq need to investigate. It must be done...
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... Hi-Ho Yo-Yo, Inc. BUS 644 Hi-Ho Yo-Yo, Inc. 2 First we must incorporate priority rules. Priority rules are regulations which determine in which succession the orders in front of a production line should be worked (Stevenson 2011, p. 712). In deciding what priority rules to acclimate, an organization such as Hi-Ho Yo-Yo, Inc. should achieve the following objectives: 1. Meet due dates of the customers if the product goes directly to them or the downstream operations if the product is but an input of another. 2. Minimize the time the order spends within the process including wait time. 3. Minimize work-in-process inventory which inevitable ties resources which can otherwise be used in more productive activities. 4. Minimize idle time of both machine and human resources. Given these objectives, Hi-Ho Yo-Yo, Inc. can choose from different priority rules and some of the most popular are as follows: (Retrieved from table 16.2, Stevenson 2011, p. 712). First Come First Serve If Hi-Ho Yo-Yo, Inc. chooses this method to decide how the 5 orders are lined up, this will mean that the first order received will be processed first. The following table shows how this choice measures according to different measures of effectiveness: Job Date Order Received Set-Up Time (days) Production Time (days) Total Processing Time Flow Time Due Date Delays A 6/4 0.25 6 6.25 6.25 11 - B 6/7 0.50 2 ...
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...Company, has a problem. No matter how often he tells his employees how to do their jobs, they invariably “decide to do things their own way”, as he puts it, and arguments ensue between Delaney, his employee and the employee’s supervisor. One example is in the door-design department. The designers are expected to work with the architects to design doors that meet the specifications. Although its not “rocket science”, as Delaney puts it, the designers often make mistakes- such as designing in too much steel- a problem that can cost Apex tens of thousands of wasted dollars, especially considering the numbers of doors in, say, a 30-story office tower. The order processing department is another example. Although Jim has a specific, detailed way he wants each order written up, most of the order clerks don’t understand how to use the multipage order form, and they improvise when it comes to a question such as whether to classify a customer as “industrial” or “commercial”. The current training process is as follows. None of the jobs have training manuals per se, although several have somewhat out-of-date job descriptions. The training of new employees is all on the job. Usually, the person leaving the company trains the new person during the 1- or 2-weeks overlap period, but if there is no overlap, the new person is trained as well as possible by other employees who have occasionally filled in on the job in the past. The training is basically the same throughout the company- for machinists...
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