Slide 1 ___________________________________ Job Cost She e t THE - - PDF document

Slide 1

Job Cost She e t

Unit Product Cost Total Cost Manufacturing Overhead Direct Labor Ba lanc e Number Da te Direct Materials Units Shipped Cost Summary Amount Rate Hours Amount Hours Ticket Amount

• Req. #

Manufacturing Overhead Direct Labor Direct Material Units Completed_________________________ Item_____________________________________ Department_______________________________ Date Completed_________________________ Date Initiated___________________________ Job Number_______________________________ THE COMPANY JOB COST SHEET 06- J44 June 10, 2006

Pa inting

Inte r ior window tr im Bldg X

Exhibit T 3M2-1~ example of Job Cost She e t

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 2

Job Costing Syste m

R e c e ive Job Orde r Sc he dule Job Or de r Ma te rials Be gin Job Comple te job a nd alloc ate

• ve rhe ad

Se nd invoic e to c ustome r

Cha in of E ve nts

E xhibit T 3M2-2 ~ Cha in of e ve nts in Job Costing System

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 3

Mate rial Re quisition F

• rm

_______________________ Authorized Signature $108.25 $7.20 $115.45 $54.25 $3.60 2 2 PT 10 L ight O c e an blue 5 g a l PB61 4” nylon paint brush

Total Cost Unit Cost Quantity Description Department__________________ Job # ______________________ Date______________________ Material Requisition Number_____

The Com pany Material Requisition

Jo John D D.Smit ith

06-J44 June 10, 2006 061324 Painting

E xhibit T 3M2-3 ~ Mate r ial R e quistion F

• r

m

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________

Slide 4

Job Cost She e t

Unit Product Cost Total Cost Manufacturing Overhead Direct Labor Ba lanc e Number Da te $115.45 Direct Materials Units Shipped Cost Summary $115.45 061324 Amount Rate Hours Amount Hours Ticket Amount

• Req. #

Manufacturing Overhead Direct Labor Direct Material Units Completed_________________________ Item_____________________________________ Department_______________________________ Date Completed_________________________ Date Initiated___________________________ Job Number_______________________________ THE COMPANY JOB COST SHEET 06- J44

Pa inting

Inte r ior window tr im Bldg X June 10, 2006

E xhibit T 3M2-4 ~ Job Cost Sheet with Mate r ia ls adde d

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 5

T ime T ic ke t

E xhibit T 3M2-5 ~ T ime tic ke t for m ______________________________ Authorized Signature

$120.00 8.0 Totals 06- J44 06- J44 $60.00 $60.00 $15.00 $15.00 4.0 4.0 11:00 a.m. 4:00 p.m. 7:00 a.m. 12:00 p.m. Job Number Amount Rate Time Completed Ended Started Station______________________ Employee___________________ Date________________________ Time Ticket # ________________

The Com pany

Tim e Ticket 06- J10252 R ic ha r d Wilson

Jam James S

• S. R

Rogers rs

June 11, 2006

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 6

Job Cost She e t

Unit Product Cost Total Cost Manufacturing Overhead $320.00 Direct Labor Ba lanc e Number Da te $115.45 Direct Materials Units Shipped Cost Summary $160.00 $160.00 8 8 06- J10252 06- J10253 $115.45 061324 Amount Rate Hours Amount Hours Ticket Amount

• Req. #

Manufacturing Overhead Direct Labor Direct Material Units Completed_________________________ Item_____________________________________ Department_______________________________ Date Completed_________________________ Date Initiated___________________________ Job Number_______________________________ THE COMPANY JOB COST SHEET June 10, 2006 06- J44

Pa inting

Inte r ior window tr im Bldg X

Exhibit T 3M2-6 ~ Job c ost she e t with la bor a dde d

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________

Slide 7

Pr e de te r mine d Ove r he ad Rate

Pre de te rmine d Ove rhe a d Ra te E stima te d tota l ma nufa c turing ove r hea d c ost E stima te d tota l units in the a lloc a tion ba se

=

At the c omple tion of a job the ove r he ad ne eds to be a lloc a te d. T

• a c c omplish this, the ra te is de te r

mine d in a dvanc e ba se d upon E ST IMAT E D tota l manufa c tur ing

• ve rhe a d c ost a nd E

ST IMAT ED units in the a lloc a tion base T ype s of a lloc a tions ba ses:

• Dir

e c t la bor hour s

• Ma c hine hour

s

• Dir

e c t la bor c ost

• Units of produc t

Alloc a tion ba se s a re se le c te d fr

• m ba se s c ommon to a ll the

pr

• duc ts a nd se rvic e s

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 8

Pr e de te r mine d Ove r he ad Rate

Pre de te rmine d Ove rhe a d Ra te E stima te d tota l ma nufa c turing ove r hea d c ost E stima te d tota l units in the a lloc a tion ba se

=

“T he Compa ny” c a lc ula te d the E stima te d tota l ma nufa c tur ing

• ve rhe a d c ost to be $72,800 a nd the dir

e c t labor hour s to be 29,120 $72,800 29,120 = $2.50/ DL H

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 9

Job Cost She e t

Unit Product Cost Total Cost $ 40.00 Manufacturing Overhead $320.00 Direct Labor Ba lanc e Number Da te $115.45 Direct Materials Units Shipped Cost Summary $20.00 $20.00 $2.50 $2.50 8 8 $160.00 $160.00 8 8 06- J10252 06- J10253 $115.45 061324 Amount Rate Hours Amount Hours Ticket Amount

• Req. #

Manufacturing Overhead Direct Labor Direct Material Units Completed_________________________ Item_____________________________________ Department_______________________________ Date Completed_________________________ Date Initiated___________________________ Job Number_______________________________ THE COMPANY JOB COST SHEET 06- J44

Pa inting

Inte r ior window tr im Bldg X June 10, 2006

E xhibit T 3M2-7 ~ Job Cost she e t with Ma nufa c tur ing Ove r he a d adde d

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________

Slide 10

Job Cost She e t

$ 22.64 Unit Product Cost $475.45 Total Cost $ 40.00 Manufacturing Overhead $320.00 Direct Labor Ba lanc e Number Da te $115.45 Direct Materials Units Shipped Cost Summary 20.00 20.00 2.50 2.50 8 8 $160.00 $160.00 8 8 06- J10252 06- J10253 $115.45 061234 Amount Rate Hours Amount Hours Ticket Amount

• Req. #

Manufacturing Overhead Direct Labor Direct Material Units Completed_________________________ Item_____________________________________ Department_______________________________ Date Completed_________________________ Date Initiated___________________________ Job Number_______________________________ THE COMPANY JOB COST SHEET 06- J44

Pa inting

June 10, 2006 Inte r ior window tr im Bldg X

Exhibit T 3M2-8 ~ Comple te d Job Cost She e t 21

June 12, 2006

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 11

Ove r & Unde r applie d ove r he ad

T hr

• ughout the ye ar

the ove rhe ad is APPL IE D using the e stima te d pr e de te rmine d ove rhe a d r ate At the end of the ye a r the ACT UAL

• ve r

he ad is c alc ulate d a nd c ompar e d to the APPL IE D. If APPL IE D is le ss than ACT UAL the n we sa y ove r he ad was UNDE R applie d. If APPL IE D is mor e than ACT UAL the n we sa y ove rhe a d wa s OVE Rapplie d.

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ Slide 12

Common me thods

• T

he ove r- and unde r

• a pplie d ove r

he ad a mounts a r e use d to adjust a c c ounts to re fle c t ac tual c osts inc urr e d

• T

wo me thods available on HOW to make the se ye a r e nd manufac tur ing ove r he a d a djustme nts

• c lose e ve rything to the Cost of Goods Sold

a c c ount

• Close to wor

k-in- proc e ss, finishe d goods a nd Cost of Goods Sold ac c ounts

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________

Slide 13

T

• Summa rize …

Exhibit T 3M2-9 ~ Summar y of unde r a nd ove r a pplie d e ffe c ts unde r both me thods

Inc re a se s Work- in- Proc e ss F inishe d Goods Cost of Goods Sold Inc re a se s Cost of Goods Sold Unde r- a pplie d (ac tual>applie d) De c r e ase s Work- in- Proc e ss F inishe d Goods Cost of Goods Sold De c re a se s Cost of Goods Sold Ove r- applie d (ac tual<applie d) Me thod 2 Alloc a te Me thod 1 Close to Cost of Goods Sold

If ove r he ad is …

2005 K D Ha the wa y-Dia l

___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________ ___________________________________