成本會(huì)計(jì)英文版課件：ch05 Product and Service Costing Job-Order System

1、 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-1 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in

2、 part. 5-25 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-31Manufacturing Firms versus Service FirmsManufacturing firmsCombines direct materials, direct labor, and overhead to produce a new pro

3、duct. Service firms Provide a service.So what is a beauty salon? Or a restaurant?Both use tangible products, but both provide a service.There are elements of both. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in who

4、le or in part. 5-41Manufacturing Firms versus Service FirmsFour qualities of a service. Intangibility refers to the nonphysical nature of services. Inseparability means that the production and consumption of the service happen at the same time. Heterogeneity refers to greater variation in the perfor

5、mance of services than production of products.Perishability means that services must be consumed when produced or provided. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-51Manufacturing Firms v

6、ersus Service Firms 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-61Manufacturing Firms versus Service FirmsEthicsCustomers may perceive greater risk when buying services.Manufacturers can offe

7、r warranties or product replacement.A service that is unsatisfactory also costs the customer time. Therefore service providers must be very careful to deliver what they promise. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible w

8、ebsite, in whole or in part. 5-72Cost Accumulation, Measurement, and AssignmentCost Accumulation refers to the recognition and recording of costs.A source document describes a transaction. A few examples of source documents are:Purchase orders.Sales receipts.Time tickets. Checks. Deposit slips. 2011

9、 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-82Cost Accumulation, Measurement, and AssignmentnCost Measurement refers to classifying or organizing costs in a meaningful way.nThere are two main way

10、s to measure costs associated with production. nActual costing uses actual direct materials, direct labor and overhead. nNormal costing uses actual direct materials and labor, but applies overhead using predetermined overhead rates or activity rates as discussed in Chapter 4. 2011 Cengage Learning.

11、All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-92Cost Accumulation, Measurement, and AssignmentnCost Assignment refers to assigning the costs to units of production.nOnce costs have been accumulated, measured and assi

12、gned, unit costs can be calculated. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-102Cost Accumulation, Measurement, and Assignment 2011 Cengage Learning. All Rights Reserved. May not be scanne

13、d, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-112Cost Accumulation, Measurement, and AssignmentUnit costs are important to Manufacturers for:valuing inventory, determining income,and many other important decisions. Nonmanufacturing firms for many of the

14、same reasons. Services do not need to value work in process or finished goods, but still need to determine profitability. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-122Cost Accumulation, Mea

15、surement, and AssignmentProduction of unit cost informationActual costingActual direct materials, direct labor and manufacturing overheadActual manufacturing overhead has timing problems. Normal costingActual direct materials and laborApplied overhead based on a predetermined overhead rate.Because t

16、he predetermined overhead rate is calculated using budgeted overhead and drivers, the timing issue is eliminated. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-132Choosing the Activity LevelExp

17、ected activity levelIs the production level the firm expects to attain for the coming yearNormal activity levelIs the average activity usage that a firm experiences in the long termTheoretical activity levelIs the absolute maximum production activity of a manufacturing firm. Practical activity level

18、 Is the maximum output that can be realized if everything operates efficiently. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-142Choosing the Activity Level 2011 Cengage Learning. All Rights Re

19、served. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-153Costs are accumulated by job in a job-order costing system. Once a job is completed, the unit cost is determined by dividing the total manufacturing cost by the number of units pro

20、duced.We assume that costs are applied based on normal costing. Overview of the Job-Order Costing System 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-163The job-order cost sheet accumulates ea

21、ch jobs manufacturing costs. Each job-order cost sheet has a job-order number that identifies the new job. The cost sheet corresponds to a record in the work-in-process inventory file. All the job sheets together form a subsidiary work-in-process inventory ledger. A job-order costing system must be

22、able to identify the quantity of direct materials, direct labor and applied manufacturing overhead. The Job-Order Cost Sheet 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-173The Job-Order Cost

23、Sheet 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-183Materials RequisitionsDirect materials cost is assigned to each job through the use of a materials requisition form. The form includes the

24、 description, quantity and unit cost of materials issued to each job. The form provides essential information for assigning direct materials costs to jobs, and also helps maintain proper control over a firms inventory of direct materials. 2011 Cengage Learning. All Rights Reserved. May not be scanne

25、d, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-193Materials Requisitions 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-203Job Time TicketsDirect lab

26、or cost is assigned to each job through the use of a job time ticket. The form includes the name, wage rate and hours worked on each job. These forms are only used for direct labor. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessib

27、le website, in whole or in part. 5-213Job Time Tickets 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-223Overhead ApplicationJobs are assigned overhead costs with a predetermined overhead rate.

28、Typically, direct labor hours are used as the measure to calculate overhead. Sometimes, another driver, such as machine hours, are used. In that case the actual amount of that driver must be collected and posted to the job cost sheets. 2011 Cengage Learning. All Rights Reserved. May not be scanned,

29、copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-233Unit Cost CalculationOnce a job is completed, the total manufacturing cost is calculated by totaling direct materials, direct labor and applied overhead. Then the grand total can be divided by number of units

30、 to produce a unit cost. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-244Accounting for Direct Materials 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, o

31、r posted to a publicly accessible website, in whole or in part. 5-254Accounting for Direct Labor 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-264Accounting for OverheadApplied OverheadFlows in

32、to Work-in-Process inventory through use of the predetermined overhead rate.Multiply the actual driver units used by the predetermined overhead rate to get Applied Manufacturing Overhead.Applied overhead is debited to Work-in-Process and credited to Overhead Control.Actual OverheadActual overhead is

33、 debited to the Overhead Control account as it is incurred. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-274Accounting for Overhead 2011 Cengage Learning. All Rights Reserved. May not be scann

34、ed, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-284Accounting for Finished Goods InventoryTotal job costDirect materials, direct labor, and applied manufacturing overhead are totaled for completed jobs.The cost of a completed job is credited to Work-in-pr

35、ocess and debited to Finished Goods Inventory. Schedule of cost of goods manufacturedA schedule summarizing the cost flows through the production activity is prepared. Finished goods inventory is carried at normal cost. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplic

36、ated, or posted to a publicly accessible website, in whole or in part. 5-294Accounting for Finished Goods Inventory 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-304Statement of Cost of Goods M

37、anufactured 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-314Accounting for Cost of Goods SoldWhen the job is shippedTo the customer, the cost of the finished job becomes a cost of goods sold.

38、The cost of a completed job is credited to finished goods inventory and debited to Cost of Goods Sold. Overhead variancesCost of goods sold before adjustment includes the cost of the finished jobs that have been sold only. There is usually an immaterial overhead variance which must be closed to the

39、cost of goods sold account.After that adjustment takes place, the result is called the adjusted cost of goods sold. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-324Accounting for Cost of Goods

40、 Sold 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-334Accounting for Cost of Goods SoldClosing the overhead variance accountUsually done once a year. Variances occur because of non-uniform pro

41、duction and overhead costs.Over time these costs should largely offset each other.If the end of year, variance is immaterial debit or credit the overhead control account to zero it out. The other half of the journal entry goes to cost of goods sold. 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 5-344Summary of Manufacturing Cost Flows 2011 Cengage Learning. All Rights Reserved. May