Job Order Cost Flow

1

• Job Order Cost Flow
• Reporting Job Cost Data
• Under- or Overapplied Overhead

2
10 tables remain in inventory
3
Beg 3,100
Beg 5,822
Accumulated cost of inventory not yet complete
Beg 1,700
4
23,700
23,700
5
11,200
11,200
6
8,988
8,988
7
Sep (150 hrs) 3,120
Sep (80 hrs) 1,682
Sep (132 hrs) 2,806
8
7,608
7,608
9
1,380
320
Utilities 320
1,380
320
10
212
470
Utilities 320
212
Property Tax 212
Depreciation 470
470
11
Sep 1,050
Sep 560
Sep 924
2,534
2,534
12
9,552
11,670
9,552
11,670
13
2,700 13,200 14,500
2,700 13,200 14,500
1,530 9,552 9,725
1,530
9,552
9,725
14
3,100
5,822
1,700
11,200
23,700
11,200
9,552
9,552
11,670
11,670
1,530
1,530
7,608
8,988
7,608
9,552
9,552
1,380
9,725
9,725
2,534
1,380
2,534
320 212 470
15
Overhead Rate
7 / DLH

Apply overhead based on actual operating activity.
Job 317 150 hours X 7 1,050.00
16
WIP balance should match job cost sheet(s).
5,942
17
2,115
18
Cost of Goods Manufactured WIP
9/1/03 5,822 DM 11,200 DL 7,608 MOH applied
2,534 Total 21,342 Total cost
WIP 27,164 Less WIP 9/30 5,942 Cost of
Goods Manuf 21,222
5,942
19
Income Statement (partial) Sales 30,400 Cost
of Goods Sold FG 9/1 1,700 CGM 21,222
CG Avail 22,922 FG 9/30 2,115
CGS 20,807 Gross Profit 9,593
2,115
20
Applied overhead does not always equal actual.
At year end, close any remaining balance to CGS.
Actual overhead
Applied overhead
237
237
237