Job Order

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CHAPTER 20
Job Order Cost Accounting
ASSIGNMENT CLASSIFICATION TABLE
Brief Exercises A Problems B Problems

Study Objectives 1. Explain the characteristics and purposes of cost accounting. Describe the flow of costs in a job order cost accounting system. Explain the nature and importance of a job cost sheet. Indicate how the predetermined overhead rate is determined and used. Prepare entries for jobs completed and sold. Distinguish between under- and overapplied manufacturing overhead.

Questions 1, 2, 3, 4

Exercises

2.

5, 6, 7, 8,11, 12

1, 2, 3, 4

1, 2, 3, 4, 6, 7, 8, 9,11

1A, 2A, 3A, 5A

1B, 2B, 3B, 5B

3.

9, 10, 11, 12

5

1, 2, 3, 6, 7, 8, 10, 12

1A, 2A, 3A, 5A

1B, 2B, 3B, 5B

4.

13, 14, 15

6, 7

2, 3, 5, 6, 7, 8, 11,12, 13

1A, 2A, 3A, 4A, 5A

1B, 2B, 3B, 4B, 5B

5.

16

8

2, 3, 4, 6, 7, 8, 9, 10, 11 5, 12, 13

1A, 2A, 3A, 5A 1A, 2A, 4A, 5A

1B, 2B, 3B, 5B 1B, 2B, 4B, 5B

6.

17, 18

9

20-1

ASSIGNMENT CHARACTERISTICS TABLE
Problem Number 1A 2A Difficulty Level Simple Moderate Time Allotted (min.) 30−40 30−40 30−40 20−30 30−40 30−40 30−40 30−40 20−30 30−40

Description Prepare entries in a job cost system and job cost sheets. Prepare entries in a job cost system and partial income statement. Prepare entries in a job cost system and cost of goods manufactured schedule. Compute predetermined overhead rates, apply overhead, and calculate under- or overapplied overhead. Analyze manufacturing accounts and determine missing amounts. Prepare entries in a job cost system and job cost sheets. Prepare entries in a job cost system and partial income statement. Prepare entries in a job cost system and cost of goods manufactured schedule. Compute predetermined overhead rates, apply overhead, and calculate under- or overapplied overhead. Analyze manufacturing accounts and determine missing amounts.

3A

Simple

4A

Simple

5A

Complex

1B 2B

Simple Moderate

3B

Simple

4B

Simple

5B

Complex

20-2

Correlation Chart between Bloom’s Taxonomy, Study Objectives and End-of-Chapter Exercises and Problems Knowledge Q20-1 Q20-2 Q20-5 Q20-7 Q20-8 Q20-12 Q20-11 Q20-12 Q20-9 Q20-10 BE20-5 E20-1 E20-2 E20-3 E20-6 BE20-6 BE20-7 E20-2 E20-3 E20-6 E20-7 BE20-8 E20-2 E20-3 E20-6 E20-7 E20-12 E20-13 P20-1A Q20-17 Q20-18 BE20-9 Communication Real-World Focus Exploring the Web E20-8 E20-9 E20-10 E20-11 P20-1A E20-8 E20-11 E20-12 E20-13 P20-1A P20-3A P20-4A P20-1B P20-3B P20-4B E20-7 E20-8 E20-10 E20-12 E20-1A E20-3A P20-2A P20-1B P20-5A P20-3B P20-2B P20-5B Q20-6 BE20-1 BE20-2 BE20-3 BE20-4 E20-1 E20-2 E20-3 E20-6 E20-7 E20-8 E20-9 E20-11 P20-1A P20-3A P20-1B P20-3B E20-4 P20-2A P20-5A P20-2B P20-5B Q20-3 Q20-4 Comprehension Application Analysis Synthesis Evaluation

Study Objective

1.

Explain the characteristics and purposes of cost accounting.

2.

Describe the flow of costs in a job order cost accounting system.

BLOOM’S TAXONOMY TABLE

3.

Explain the nature and importance of a job cost sheet.

4.

Indicate how the predetermined overhead rate is determined and used.

Q20-15 Q20-13 Q20-14

20-3
Q20-16

E20-5 P20-2A P20-5A P20-2B P20-5B P20-3A E20-4 P20-1B P20-2A P20-3B P20-5A P20-2B P20-1B E20-5 P20-4A P20-2A P20-4B P20-5A P20-5B

5.

Prepare entries for jobs completed and sold.

6.

Distinguish between under- and overapplied manufacturing overhead.

P20-2B P20-5B Managerial Analysis All About You Decision Making Across the Organization Ethics Case

Broadening Your Perspective

ANSWERS TO QUESTIONS
1. (a) Cost accounting involves the measuring, recording, and reporting of product costs. A cost accounting system consists of manufacturing cost accounts that are fully integrated into the general ledger of a company. (b) An important feature of a cost accounting system is the use of a perpetual inventory system that provides immediate, up-to-date information on the cost of a product. (a)...
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