会计学（第21版）课件：Introduction to Managerial Accounting and Job Order Cost Systems

IntroductiontoManagerialAccountingandJobOrderCostSystemsAccounting,21stEditionWarrenReeveFess

Someoftheactionhasbeenautomated,soclickthemousewhenyouseethislightningboltinthelowerright-handcornerofthescreen.Youcanpointandclickanywhereonthescreen.1. Describethedifferencesbetweenmanagerialandfinancialaccounting.2. Evaluatetheorganizationalroleofmanagementaccountants.3. Defineandillustratematerials,factorylabor,andfactoryoverheadcosts.4. Describeaccountingsystemsusedbymanufacturingbusinesses.ObjectivesAfterstudyingthischapter,youshouldbeableto:6.

Describeandpreparesummaryjournalentriesforajobordercostaccountingsystem.Objectives7.

Usejobordercostinformationfordecisionmaking.8. Diagramtheflowofcostsforaservicebusinessthatusesajobordercostaccountingsystem.TheDifferencesBetweenManagerialandFinancialAccountingFinancialAccountingManagerialAccountingShareholdersCreditorsGovernmentGeneralPublicManagementManagementUsersofAccountingInformationFinancialandManagerialAccountingFinancialStatementsUsers:ObjectivePreparedaccordingtoGAAPPreparedperiodicallyBusinessentityExternalUsersandManagementCharacteristics:FinancialAccountingManagementReportsUsers:ObjectiveandsubjectivePreparedaccordingtomanagementneedsPreparedperiodicallyorasneededBusinessentityorsegmentManagementCharacteristics:ManagerialAccountingPlantManager--Carlsbad,CAPlantManager——ProTourRelationsControllerManager—ShaftDevelopmentPartialOrganizationChart–CallawayGolfCompanyVice-PresidentNewProductDevelopmentVice-President—GlobalSalesVice-President—ManufacturingChiefFinancialOfficerChiefExecutiveOfficerManufacturingCostTermsEXPENSEASSETEXPENSECOSTPayrollCheckFactoryOverheadDirectMaterialsDirectLaborProductCostsThecostofmaterialsthatareanintegralpartoftheproduct.Thecostoflabordirectlyinvolvedinconvertingmaterialintotheproduct.Manufacturingcostsotherthandirectmaterialsanddirectlabor.CostAccountingSystemsJobordercostsystem

Providesaseparaterecordforthecostofeachquantityofproductthatpassesthroughthefactory.Processcostsystem

Systeminwhichcostsareaccumulatedforeachofthedepartmentsorprocesseswithinthefactory.*Notethattheexamplesinthispresentationusethejobordercostaccountingsystem.Thecostsofconvertingthematerialsintofinishedproductsconsistsofdirectlaborandfactoryoverhead.Thesetwocostscombinedareoftenreferredtoasconversioncosts.FlowofManufacturingCostsPRINTINGPLANTJob73WorkinProcessInventoryDirectLaborFactoryOverheadMATERIALSSTOREROOMINKINKMaterialsInventoryFlowofManufacturingCostsFinishedGoodsInventoryWAREHOUSEJob69Job70CAMPUSBOOKSTORECostofGoodsSoldFlowofManufacturingCostsMaterialsreceivedareinspectedbytheReceivingDepartment.Onceinspected,areceivingreportispreparedshowingthequantityreceivedanditscondition.ReceivingReportNo.196FlowofManufacturingCostsInvoiceThereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment.ReceivingReportNo.196FlowofManufacturingCostsInvoice a. Materials 1050000 AccountsPayable 1050000MaterialspurchasedduringDecember.ReceivingReportNo.196FlowofManufacturingCostsThe

Materials

accountisacontrollingaccount.Aseparateaccountforeachtypeofmaterialismaintainedinasubsidiarymaterialsledger.InvoiceReceivingReportNo.196MATERIALSLEDGERACCOUNTMATERIAL:No.23Paper ORDERPOINT:1,000lbs.

RECEIVEDISSUEDBALANCERec.Mat.ReportReq.UnitNo.QuantityAmountNo.QuantityAmountDateQuantityAmountPrice

Dec.1 1,200 $6,000 $5.00 672 400 $2,000 4 800 4,000 5.00ReceivingReportNo.196

196 1,500 $10,500 8 800 4,000 5.00 1,500 10,500 7.00First-in,first-outDirectMaterialsMATERIALSLEDGERACCOUNTMATERIAL:No.23Paper ORDERPOINT:1,000lbs.

RECEIVEDISSUEDBALANCERec.Mat.ReportReq.UnitNo.QuantityAmountNo.QuantityAmountDateQuantityAmountPrice

Dec.1 1,200 $6,000 $5.00 672 400 $2,000 4 800 4,000 5.00196 1,500 $10,500 8 800 4,000 5.00 1,500 10,500 7.00

Later,MaterialsRequisitionNumber704ispreparedforJobNo.72requisitioning1,800unitsofNo.23paper.toMaterialsRequisitionDirectMaterials

704 1,800 11,000 12 500 3,500 7.00MATERIALSREQUISITIONSREQUISITIONNO.704JOBNO.72QuantityUnit

DescriptionIssuedPriceAmountNo.23paper 800 $5.00 $4,000 1,000 7.00 7,000Totalissued $11,000fromMaterialsLedgerAccounttoJobCostSheetDirectMaterialsJob724,000unitsofAlgebraDirectmaterials DirectLaborFactoryOverheadfromMaterialsRequisition

$11,000Thereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment. b. WorkinProcess 1100000 Materials 1100000Materialsrequisitionedto Job72. DirectMaterialsDirectLaborTIMETICKETJob72TimeTicketsNo.6311

EmployeeNameS.AndrewsDateDec.26,2006WorkDescriptionPrintingJobNo.72StartFinishHoursHourlyTimeTimeWorkedRateCost

9:00 12:00 3 $15.00 $45.00 1:00 6:00 5 15.00 75.00TotalCost $120.00Approvedby_____________________________A.M.DecemberJob72(500hours)foratotalcostof$7,500toJobCostSheetDirectLaborJob724,000unitsofAlgebraDirectmaterials $11,000DirectLaborFactoryOverheadfromTimeTickets

7,500Thereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment. c. WorkinProcess 750000 WagesPayable 750000Factorylaborusedin productionofJob72.Whenindirectmaterialisusedordepreciationoffactoryequipmentisrecorded,acostaccount(ratherthananexpenseaccount)needstobecharged.Allmanufacturingcostsexceptdirectmaterialsanddirectlaborfallintothiscategory. d. FactoryOverhead 460000 Factoryoverheadincurred.Materials 50000WagesPayable 200000UtilitiesPayable 90000AccumulatedDepreciation 120000FactoryOverheadAfirmcan’twaituntiltheendofthefiscalyeartopriceaproduct,sooverheadmustbeestimated(orapplied)usingthisformula.EstimatedtotalfactoryoverheadcostsEstimatedactivitybasePredeterminedfactoryoverheadrate=FactoryOverheadAnactivitybaseischosenforthedenominatoroftheformulathatisrelevanttooverheadandcanberealisticallymeasured.ThereareseveralpossibilitiesforGoodwellPrinters.Activitybasepossibilities

1.Directlaborhours2.Directlabordollars3.Machinehours4.DirectmaterialsFactoryOverhead

GoodwellPrintersestimatesfactoryoverheadcoststobe$50,000andchoosesdirectlaborhoursasitsactivitybase.FactoryOverheadManagementestimatedthat10,000directlaborhourswouldbeusedduringthefiscalperiod.Thisallowedforapredeterminedfactoryoverheadratetobecalculated.EstimatedtotalfactoryoverheadcostsEstimateddirectlaborhours$50,00010,000directlaborhours=$5perdirectlaborhoursFactoryOverheadDecemberJob72(500hours)foratotalcostof$7,500TIMETICKETJob72TimeTicketsNo.6311

EmployeeNameB.AndrewsDateDec.26,2006WorkDescriptionPrintingJobNo.72StartFinishHoursHourlyTimeTimeWorkedRateCost

9:00 12:00 3 $15.00 $45.00 1:00 6:00 5 15.00 75.00TotalCost $120.00Approvedby_____________________________A.M.Job72required500directlaborhours.FactoryOverheadJob724,000unitsofAlgebraDirectmaterials DirectLaborFactoryOverhead500hoursx$5 $11,000

7,500

Thereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment. d. WorkinProcess 250000 FactoryOverhead 250000Factoryoverheadappliedto Job72.

2,500Totaljobcost $21,000FactoryOverheadThisillustrationshasfocusedonJob72.ThetextbookshowstwojobsthatwereworkedoninDecember.So,whenoverheadisappliedtobothjobs,theentryisfor$4,250.ACCOUNTFactoryOverhead

ACCOUNTNO.DateItemRef.DebitCreditDebitCreditPost.BalanceDec. 1 Balance 200 31 FOcostincurred 4,600 4,400

31 FOcostapplied 4,250 150FactoryOverheadOverapplied(overestimated)Underapplied(underestimated)FactoryOverheadrequiresclosingattheendofthefiscalperiod.DateItemRef.DebitCreditDebitCreditPost.BalanceDec. 1 Balance 200 31 FOcostincurred 4,600 4,400 31 FOcostapplied 4,250 150

ACCOUNTFactoryOverhead

ACCOUNTNO.FactoryOverheadDisposalofFactoryOverheadBalanceDateItemRef.DebitCreditDebitCreditPost.BalanceDec. 1 Balance 200 31 FOcostincurred 4,600 4,400 31 FOcostapplied 4,250 150

ACCOUNTFactoryOverhead

ACCOUNTNO.Thereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment. f. CostofGoodsSold 15000 FactoryOverhead 15000Closedunderappliedfactory overheadtocostofgoodssold.ACCOUNTFactoryOverhead

ACCOUNTNO.DateItemRef.DebitCreditDebitCreditPost.BalanceDec. 1 Balance 200 31 FOcostincurred 4,600 4,400 31 FOcostapplied 4,250 150

31 Closing 150 —DisposalofFactoryOverheadBalanceCompletionofJobsThereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment. g. FinishedGoods 1025000 WorkinProcess 1025000Job71completedin December.Job711,000unitsofAmericanHistoryDirectmaterials DirectLaborFactoryOverhead 2,000

3,500

1,750Totaljobcost $10,250Balance $3,000Job71wasstartedinNovemberandcompetedinDecember.FINISHEDGOODSLEDGERITEM:AmericanHistory

Manufactured

Shipped

BalanceJobShipOrderOrderUnitNo.QuantityAmountNo.QuantityAmountDateQuantityAmountPriceSaleofProductSold2,000AmericanHistorytextbooksonaccount,$28,000.

Dec.1 2,000 $20,000 $10.00

FINISHEDGOODSLEDGERITEM:AmericanHistory

Manufactured

Shipped

BalanceJobShipOrderOrderUnitNo.QuantityAmountNo.QuantityAmountDateQuantityAmountPrice

Dec.1 2,000 $20,000 $10.00

643 2,000 $20,000 9 --- --- ---

Sold2,000AmericanHistorytextbooksonaccount,$28,000.SaleofProductThereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment. h. CostofGoodsSold 2000000 FinishedGoods 2000000Costof2,000American Historytextbookssold.Entrytoremovebooksfrominventory.Thereceivingreportandtheinvoiceareusedtorecordthereceiptofthemerchandiseandtocontrolthepayment. i. AccountsReceivable 2800000 Sales 2800000Revenuereceivedfrom textbookssold.Entrytorecordsaleonaccount.SaleofProductFINISHEDGOODSLEDGERITEM:AmericanHistory

Manufactured

Shipped

BalanceJobShipOrderOrderUnitNo.QuantityAmountNo.QuantityAmountDateQuantityAmountPrice

Dec.1 2,000 $20,000 $10.00 643 2,000 $20,000 9 --- --- ---

71 1,000 $10,250 31 1,000 10,250 10.25

TransfertoFinishedGoodsJob71istransferredtofinishedgoods.ExamplesofPeriodCostsSELLINGEXPENSESAdvertisingexpensesSalessalariesexpensesCommissionexpensesExamplesofPeriodCostsADMINISTRATIVEEXPENSESOfficesalariesexpensesOfficesuppliesexpensesDepreciationexpense—officebuildingsandofficeequipmentGoodwellPrintersIncomeStatementFortheMonthEndedDecember31,2006Sales $28,000Costofgoodssold 20,150Grossprofit $7,850Sellingandadmin.expenses: Salessalariesexpense $2,000 Officesalariesexpense 1,500 Totalsellingandadmin. expenses 3,500Incomefromoperations $4,350

OverviewofJobOrderCostingProductCostsCosts&ExpensesBalanceSheetDirectLaborDirectLaborFactoryOverheadFactoryOverheadFinishedGoodsInventoryCostofgoodsmanufacturedWorkinProcessInventoryMaterialsInventoryMaterialsPurchases

CostofGoodsSoldProductCostsPeriodCostsCosts&ExpensesBalanceSheetDirectLaborDirectLaborFactoryOverheadFactoryOverheadFinishedGoodsInventoryWorkinProcessInventoryIncomeStatementSellingandAdministrativeSellingandAdministrativePeriodcostsflowdirectlytotheincomestatement

OverviewofJobOrderCostingMaterialsInventoryMaterialsPurchasesFlowofManufacturingCostsDMMaterialsWorkinProcessFinishedGoodsWagesPayableFactoryOverheadCostofGoodsSoldDMMaterialsPurchasedTotalWagesDirectmaterialsusedinproductionDMDMMaterialsWorkinProcessFinishedGoodsWagesPayableFactoryOverheadCostofGoodsSoldIMDMMaterialsPurchasedTotalWagesIndirectmaterialsusedinproductionIMFlowofManufacturingCostsIMDMMaterialsWorkinProcessFinishe