104760814 Job Order Costing Example
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Transcript of 104760814 Job Order Costing Example
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Sales Order
Sales order item Item1Price 168.00$ From Data inputSales quantity 50 Valid quantities are between 10 - 50Total 8,400$ Price * Sales quantity
Materials Re uisition Form 1 2Quantit Per Units Cost Per Total Total
Direct Material Item1 Scra ed Unit Quantit CostDM9 3 1 5.18$ 151 782$
DM10 6 4 1.67 304 508
Total 1,290$
Time Ticket 2 3Start Sto Crew Man- Cost Per Total
Date Time Time Hours Size Hours DL Hour Cost16-Dec 8:00 AM 11:02 AM 3.0 3 9.0 13.93$ 125.37$16-Dec 1:40 PM 4:42 PM 3.0 3 9.1 13.93 126.2118-Dec 8:58 AM 11:41 AM 2.7 3 8.1 13.93 113.2518-Dec 1:27 PM 4:40 PM 3.2 3 9.7 13.93 134.5619-Dec 8:15 AM 11:29 AM 3.2 2 6.5 13.93 90.2719-Dec 1:37 PM 4:00 PM 2.4 3 7.1 13.93 99.4622-Dec 8:32 AM 11:35 AM 3.1 4 12.2 13.93 169.9522-Dec 1:32 PM 4:03 PM 2.5 2 5.0 13.93 70.21
23-Dec 8:16 AM 11:44 AM 3.5 2 6.9 13.93 96.4023-Dec 1:58 PM 4:36 PM 2.6 4 10.6 13.93 147.1026-Dec 8:52 AM 11:34 AM 2.7 3 8.1 13.93 112.4226-Dec 1:20 PM 4:24 PM 3.1 3 9.2 13.93 128.3027-Dec 8:31 AM 11:09 AM 2.6 2 5.3 13.93 73.5527-Dec 1:14 PM 4:01 PM 2.8 3 8.3 13.93 116.1829-Dec 8:38 AM 11:28 AM 2.8 3 8.5 13.93 118.2729-Dec 1:06 PM 4:49 PM 3.7 2 7.4 13.93 103.6431-Dec 8:45 AM 12:15 PM 3.5 4 14.0 13.93 195.02
Totals 50.5 145.0 13.93$ 2,020$
Job Cost Sheet
Units produced 50Start date 15-DecFinish date 1-Jan
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Date Added Direct Material Number DM Cost Date DL Cost Date Overhead Rate Total Man-Hours15-Dec DM9 782$ 16-Dec 125$ 1-Jan 12.64$ 145.023-Dec DM10 508 16-Dec 126
18-Dec 11318-Dec 13519-Dec 9019-Dec 9922-Dec 17022-Dec 70
23-Dec 9623-Dec 14726-Dec 11226-Dec 12827-Dec 7427-Dec 11629-Dec 11829-Dec 10431-Dec 195
Totals 1,290$ 2,020$ 1,833$ Overhead Rate * Total Man-HoursTotal cost of goods sold 5,143 Equals the Total of direct material, direct labor, and overheadCost per unit 102.86$
Notes:
1 Units Scrapped are those that are permanently lost during the production process. Typically due to damage or defect.
2 Quantity Per Item * Sales quantity + Units Scrapped.
3 Hours * Crew Size.
4 Man Hours * Cost Per DL Hour
Direct Material Cost Breakdown Direct Labor Cost Breakdown Overhead Cost Breakdown
WHITE CELLS ARE ADJUSTABLE
Job Order Costing Example
Kristoffer Burnett - Certified Management Accountant, 2009-2011Small business solutions at http://www.imperoco.com
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Daily Cost Breakdown
OH Cost
DL Cost
DM Cost
http://www.imperoco.com/http://www.imperoco.com/http://www.imperoco.com/ -
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5 In this example, overhead is applied on the basis of direct labor hours. This rate will be determinedduring the budgeting phase. If actual overhead is above or below the applied amount for the yearthen the difference must be reconciled in the financial statements.
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Item Name and Price
Item Price
Item1 168.00$Item2 289.00Item3 170.00Item4 282.00Item5 110.00$
Bill of MaterialsDirect Direct Material
Item Material Quantit Cost/Unit
Item1 DM9 3 5.18$DM10 6 1.67
Item2 DM4 8 8.99$DM9 1 5.18DM5 3 4.75DM3 6 6.74$
Item3 DM7 3 1.28$DM5 9 4.75
Item4 DM5 3 4.75$DM1 10 2.16DM2 6 6.74DM8 1 7.44$
Item5 DM8 2 7.44$DM10 9 1.67
Bud eted Direct Labor DataDirect Labor
Item Hours Cost/Hour
Item1 2.9 13.93$Item2 1.4 16.36
Item3 2.9 12.63Item4 3.0 16.13Item5 2.1 13.24$
Bud eted Overhead Data
Item OH RateItem1 12.64$Item2 19.94Item3 10.59Item4 13.45Item5 10.82$
WHITE CELLS ARE ADJUSTABLE
Job Order Costing Example
Kristoffer Burnett - Certified Management Accountant, 2009-2011Small business solutions at http://www.imperoco.com
http://www.imperoco.com/http://www.imperoco.com/http://www.imperoco.com/
