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Job-order Costing - Coggle Diagram
Job-order Costing
Characteristics
Many different products
Manufacture to order
Materials & Labour
Costed
Overheads
Allocated
Labour cost
Overtime
Fringe benefits
Idle time
Cost flows
Overview
T-accounts
Materials
Inventory
#
S & W
WIP
FG
COGS
Overheads
#
Journals
Reporting
Cost of goods manufactured
Cost of goods sold
Income statement
Overheads
POHR
Allocation base (units)
Fixed & Variable OH
Y = a + bX
POHR = Total Cost / Units
Apply OH
Adjustments
Over- / Under application
Adjusting journals
POHR at Capacity
Show cost of idle capacity