This document provides an overview of product and service costing methods, including job-order costing and process costing. It defines key terms, outlines learning objectives, and provides examples to illustrate how to calculate costs and equivalent units. Specifically, it explains how to (1) calculate costs for a job using direct materials, labor and overhead, (2) prepare a departmental production report using weighted average and FIFO methods, and (3) make related journal entries.
Akuntansi Manajemen Edisi 8 oleh Hansen & Mowen Bab 5Dwi Wahyu
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Akuntansi Manajemen Edisi 8 oleh Hansen & Mowen Bab 5Dwi Wahyu
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Akuntansi Manajemen Edisi 8 oleh Hansen & Mowen Bab 1Dwi Wahyu
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Laporan keuangan merupakan produk yang paling penting dari lingkungan pelaporan keuangan. Informasi dalam laporan keuangan di nilai relatif terhadap kebutuhan informasi pengguna laporan keuangan dan sumber informasi alternatif seperti data ekonomi dan industri, laporan analisis dan pengungkapan sukarela oleh manajer. Penting untuk memahami faktor-faktor yang mempengaruhi sifat dan isi laporan keuangan agar dapat menilai informasi akuntansi keuangan yang di laporkan dalam laporan keuangan. Faktor- faktor utama tersebut adalah aturan akuntansi (GAAP), motivasi manajer, mekanisme pengawasan dan pelaksanaan, regulator/pembuat peraturan, praktik industri. Dan sumber informasi lain.
Activity Based Costing System dapat diartikan sebagai pendekatan penentuan biaya produksi yang membebankan biaya ke produk atau jasa berdasarkan konsumsi sumber daya oleh aktivitas-aktivitas yang dilakukan dalam proses produksi.
Akuntansi Manajemen Edisi 8 oleh Hansen & Mowen Bab 2Dwi Wahyu
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Akuntansi Manajemen Edisi 8 oleh Hansen & Mowen Bab 4Dwi Wahyu
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Akuntansi Manajemen Edisi 8 oleh Hansen & Mowen Bab 1Dwi Wahyu
Materi Bab 1 Introduction: The Role, History, And
Direction Of Management Accounting, Akuntansi Manajemen buku Hansen & Mowen Edisi 8. Presentasi powerpoint oleh Gail B. Wright, Professor Emeritus of Accounting, Bryant University
Laporan keuangan merupakan produk yang paling penting dari lingkungan pelaporan keuangan. Informasi dalam laporan keuangan di nilai relatif terhadap kebutuhan informasi pengguna laporan keuangan dan sumber informasi alternatif seperti data ekonomi dan industri, laporan analisis dan pengungkapan sukarela oleh manajer. Penting untuk memahami faktor-faktor yang mempengaruhi sifat dan isi laporan keuangan agar dapat menilai informasi akuntansi keuangan yang di laporkan dalam laporan keuangan. Faktor- faktor utama tersebut adalah aturan akuntansi (GAAP), motivasi manajer, mekanisme pengawasan dan pelaksanaan, regulator/pembuat peraturan, praktik industri. Dan sumber informasi lain.
Activity Based Costing System dapat diartikan sebagai pendekatan penentuan biaya produksi yang membebankan biaya ke produk atau jasa berdasarkan konsumsi sumber daya oleh aktivitas-aktivitas yang dilakukan dalam proses produksi.
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Perhitungan Biaya Berdasarkan Proses
Pengertian sistem perhitungan biaya produk yang mengakumulasikan biaya menurut proses atau departemen dan membebankannya pada sejumlah besar produk yang hampir serupa
Tujuan Penggunaan
Menyediakan informasi bagi para manajer untuk menganalisis produk dan profitabilitas pelanggan serta menentukan harga, bauran produk, dan keputusan untuk perbaikan proses
ACG 2071 Managerial Accounting Process Costing Systems .docxbobbywlane695641
ACG 2071 Managerial Accounting
Process Costing Systems
Minicase
PROCESS COSTING PROBLEM
Spectre Chemicals produces Zaloff in a two department process. Information on the two
departments for March and April, 2011 are as follows:
March 2011:
Department 1: The company had beginning inventory of 6,000 units, 40% completed with a
cost of $45,000. During the month, the department transferred in 22,000 units of the direct
materials with a cost of $10 per unit. Ending inventory was 7,000 units, 30% completed.
Direct labor is $310,500 and factory overhead is $103,500.
Department 2: The company had beginning inventory of 5,000 units, 70% completed with a
cost of $80,000. During the month, direct labor was $175,000 and factory overhead was
$87,500. Ending inventory was 10,000 units, 50% completed.
April 2011:
Department 1: During the month, the department transferred in 20,000 units of the direct
materials with a cost of $11 per unit. Direct labor is $209,000 and factory overhead is
$104,500. Ending inventory is 10,000 units 60% completed.
Department 2: The company had beginning inventory of 5,000 units, 70% completed with a
cost of $80,000. During the month, direct labor is $175,000 and factory overhead is
$87,500.
Required:
Compute the Equivalent Units of Production, Material costs, and Conversion costs for each
department for March and April, 2011.
Complete the attached chart – one for each department and each month
Prepare a cost of production report for March and April 2011.
ACG 2071
Process Cost Systems
Created by: M. Mari
Fall 2009-1
Page 1 of 13
Process Manufacturing
Is the mass production of products in a continuous flow
of steps
Products pass through a series of sequential processes
Each process is identified a separate production,
department, workstation, or work center.
With the exception of the first process or department,
each receives the output from the prior department as
a partially processed product.
Depending on the nature of the process, a company
applies direct labor, overhead, and additional direct
materials to move the product toward completion.
Process Cost System
Assigns direct materials, direct labor, and overhead
to specific processes.
Costs are allocated by department rather than jobs
Manufacturing costs are allocated to products based
on units of production
Manufacturing costs are accumulated and transferred
by department
The total costs associated with each process are then
divided by the number of units passing through that
process to determine the cost per equivalent units
for that process
ACG 2071
Process Cost Systems
Created by: M. Mari
Fall 2009-1
Page 2 of 13
To understand how costs are allocated, first we must decide
how the costs are accumulated. One method is First in, First
out method.
Beverage Production
Costs flow fr.
Photosynthesis Lab Below is a listing which will help you .docxrandymartin91030
Photosynthesis Lab
Below is a listing which will help you to prepare for the quiz and lab on this
material.
I. Autotrophs & Heterotrophs –
Photosynthetic autotrophs - plants & algae (autotrophs = self feeders)
Chemosynthetic autotrophs – bacteria
• Obtain their energy from stripping electrons from inorganic sulfur & nitrogen
compounds
Heterotrophs - "other feeders"
• Obtain carbon and energy from organic compounds assembled by autotrophs
• Ex: all organisms which are not autotrophs; animals & fungi, etc
II. Photosynthesis Overview –
2 major parts:
A. Light Dependent reactions - "light reactions" (photo portion of photosynthesis)
• These reactions capture and convert the sun's energy into chemical energy in
the form of ATP & NADPH
• Consists of CYCLIC and NON-CYCLIC PHOTOPHOSPHORYLATION
Click Here for an IMAGE of photosynthesis-
B. Light Independent Reactions - "dark rxns"
aka: the Calvin-Benson Cycle
1. The energy captured in the light rxns. is used to build sugars
2. This is the biosynthesis portion
o The ATP and NADPH from the light reactions are used to build the
sugar
o ATP provides the energy
o NADPH provides electrons and H+
http://www.palmbeachstate.edu/faculty/allenc/bio/photo.gif
III. Balanced Equation for Photosynthesis –
12H2O + 6CO2 -------> C6H12O6 + 6O2 + 6H2O
reactants products
IV. Chloroplasts & Pigments –
A. Chloroplasts - are the organelles in which photosynthesis occurs
B. Pigments are molecules which have the capacity to absorb photons of light energy
2. Chlorophyll
a. A pigment which absorbs blue and red wavelengths of light (reflect back the
Click Here for an IMAGE of the EM Spectrum
http://www.palmbeachstate.edu/faculty/allenc/bio/spectrum.gif
PY Fin'l StmtsAcme Corp.Prepared by:Prior Year Financial StatementsJanuary 31, 2008Acme CorporationBalance SheetDecember 31, 2012 and 2011Assets20122011Current Assets:Cash$ 1,015,000$ 727,000Accounts receivable, net1,517,7001,213,500Inventories556,000249,000Other current assets280,000353,500Total current assets3,368,7002,543,000Machinery and equipment2,275,9001,674,500Motor vehicles66,70048,000Office equipment45,00033,000Leasehold improvements197,500181,500Gross equipment and leasehold improvements2,585,1001,937,000Less accumulated depreciation and amortization1,375,000965,500Net value1,210,100971,500Other assets147,00061,500Total Assets$ 4,725,800$ 3,576,000Liabilities and Stockholders' EquityCurrent Liabilities:Accounts payable1,094,300222,000Accrued expenses1,220,0001,082,000Other current liabilities95,00082,500Total current liabilities2,409,3001,386,500Stockholders' EquityCommon stock394,500394,500Retained earnings1,922,0001,795,000Total equity2,316,5002,189,500Total liabilities and equity$ 4,725,800$ 3,576,000Acme CorporationStatement of Income and Retained EarningsFor the Years Ended December 31, 201.
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The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
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The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
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The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
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Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
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2. 2
LLEEAARRNNIINNGG OOBBJJEECCTTIIVVEESS
1. Describe basic characteristics of & differences
between job-order & process costing; identify
types of firms that would use each method.
2. Describe cost flows associated with job-order
costing.
3. Describe cost flows associated with process
costing.
4. Describe equivalent units & explain their role in
process costing.
3. 3
LLEEAARRNNIINNGG OOBBJJEECCTTIIVVEESS
5. Prepare departmental production report using
weighted average method.
6. Explain how process costing is affected by
nonuniform application of manufacturing inputs
& existence of multiple processing departments.
7. Complete departmental production report using
FIFO method (Appendix A).
8. Prepare journal entries associated with job-order
& process costing (Appendix B).
4. 4
JOB-ORDER COSTING:
Definition
Definition
An accounting system that
assigns costs to products
produced for individually
specific jobs.
LO 1
5. 5
JOB-ORDER COSTING
The key feature of job-order costing
is that the cost of 1 job differs from
that of another and must be tracked
separately.
LO 1
6. 6
PPRROOCCEESSSS CCOOSSTTIINNGG:: DDeeffiinniittiioonn
An accounting system that
assigns costs to products
produced in a series of
processes.
LO 1
7. 7
JOB-ORDER COSTING
The key feature of process costing is
that the products produced are
LO 1
homogeneous and therefore have
the same cost.
8. 8
COMPARING COSTING
SYSTEMS
LO 1
EEXXHHIIBBIITT 66--11
Accumulates
costs by job.
Accumulates
costs by process.
9. 9
How do you calculate costs for
a job-order cost system?
Combine direct materials +
direct labor + overhead.
LO 2
11. 11
What will be the selling price
for SupliShake-001?
If the selling price is cost + 50%,
PNP will sell SupliShake-001 for
LO 2
$3,480 ($2,320 + $1160).
13. 13
EQUIVALENT FULL UNITS:
Definition
Definition
The complete units that
LO 4
could have been produced
given the total amount of
manufacturing effort
expended for the period.
14. Equivalent full
units (EFU)
necessary to
calculate unit
cost.
14
DEFINING UNIT OF
PRODUCTION: Concept
Concept
LO 4
EEXXHHIIBBIITT 66--1133
15. 15
5 STEPS TO PREPARE
PRODUCTION REPORT
1. Physical units flow analysis
2. Calculation of equivalent units
3. Computation of unit cost
4. Valuation of inventories
a. Goods transferred out
b. Ending work in process
5. Cost reconciliation
LO 5
16. 16
HEALTHBLEND’S PICKING
DEPT.: July Costs
July Costs
LO 5
Production
Units in process July 1, 75% complete 20,000
Units complete & transferred out 50,000
Units in process July 31, 25% complete 10,000
Costs
Work in process, July 1 $ 3,525
Cost added during July 10,125
17. 17
PHYSICAL FLOW SCHEDULE:
Step 1
LO 5
EEXXHHIIBBIITT 66--1155
Reconciling units
to account for.
19. 19
COMPUTE UNIT COST: Step 3
LO 5
Unit cost = $13,625 / 52,500 = $0.26 per EFU
EEXXHHIIBBIITT 66--1144
20. 20
COMPUTE UNIT COST: Step 4
LO 5
EEXXHHIIBBIITT 66--1144
Unit cost = $13,625 / 52,500 = $0.26 per EFU
Transferred out ($0.26 x 50,000 = $13,000
EWIP ($0.26 x 2,500) = 650
Total cost assigned = $13,650
21. 21
COST RECONCILIATION: Step 5
LO 5
Total Manufacturing Costs Assigned
Goods transferred out $ 13,000
Goods in ending WIP 650
Total costs accounted for $ 13,650
Manufacturing Costs to Account For
Beginning WIP $ 3,525
Incurred during the period 10,125
Total costs to account for $ 13,650
22. 22
WEIGHTED AVERAGE:
Evaluation
Major benefit
?
Major disadvantage
?
LO 5
Simplicity
Accuracy in computing unit costs for
current period & for beginning WIP
23. 23
NONUNIFORM INPUTS:
Definition
Definition
Occurs, for example, when direct
materials are completely added
at the beginning of process rather
than throughout process.
LO 6
24. 24
NONUNIFORM INPUTS: EFU
Computation
LO 6
EEXXHHIIBBIITT 66--1199
Materials are 100%,
added at beginning,
but conversion costs
only 40% complete.
25. 25
HEALTHBLEND’S PICKING
DEPT.: July Costs
July Costs
LO 7
Production
Units in process July 1, 75% complete 20,000
Units complete & transferred out 50,000
Units in process July 31, 25% complete 10,000
Costs
Work in process, July 1 $ 3,525
Cost added during July 10,125
Remember
27. 27
How are transactions entered
into the accounting system?
Transactions are entered into
accounting system by making
journal entries & posting to
accounts.
LO 8