Download Principles of Cost Accounting, 15th Edition by Edward J. Vanderbeck PDF

By Edward J. Vanderbeck

This e-book presents readers with a radical, yet concise, figuring out of recommendations, habit, and accounting options appropriate to production fee structures.

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Extra info for Principles of Cost Accounting, 15th Edition

Example text

00 Direct labor . . . . . . . . . . . . . 00 8,220 500 Factory overhead . . . . . . . . . . 44 If the same type of table is produced in future periods, the unit costs of those periods can be compared with the unit costs for this month. Any significant differences can be analyzed so that management might take appropriate action. The unit cost also serves as a basis for establishing the selling price of the tables. After also considering the selling and administrative expenses, management establishes a selling price that should provide a reasonable profit.

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20,000 20,000 20,000 19 20 Principles of Cost Accounting 4. The entry to distribute the payroll to the appropriate accounts would be as follows: Work in Process (Direct Labor) . . . . . . . . . . . . . . . . . . 10,000 Factory Overhead (Indirect Labor) . . . . . . . . . . . . . . . . 3,500 Selling and Administrative Expenses (Salaries) . . .

1,125 Depreciation of machinery and equipment . . . . . . . . . . . . . . 1,250 Utilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,170 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $13,155 Assume that Jobs 101 and 102 are the only jobs worked on during the period and that factory overhead is allocated as follows: 60% to Job 101, 40% to Job 102. Total Factory Overhead $13,155 40% 60% Job 101 Job 102 $5,262 $7,893 The distribution of factory overhead would then be recorded as follows: Work in Process (Jobs 101 and 102) .

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