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Cost Accounting Projects Reports

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Added on  2021-06-14

Cost Accounting Projects Reports

   Added on 2021-06-14

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Running Head: Cost Accounting 1Project Report: Cost accounting
Cost Accounting Projects Reports_1
Cost Accounting 2Job costing:Normal Solution:Direct material controlDebitcreditParticularsamountParticularsamountbalance b/d25898WIP820Purchase4922balance c/d300003082030820Work in processDebitcreditParticularsamountParticularsamountBalance b/d9700Direct Material820Finished goods21120Labour7400balance c/d8800Factory overhead120002992029920Finished GoodsDebitcreditParticularsamountParticularsamountBalance b/d12780Sales48000WIP21120balance c/d18900gross profit330006690066900Accounts PayableDebitcreditParticularsamountParticularsamountCash8700Balance b/d5678balance c/d1900Direct material (purchase)49221060010600Cost of goods soldDebitcreditParticularsamountParticularsamountsales88000Gross profit33000Balance c/d55000
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Cost Accounting 38800088000Formula solution:34567891011121314151617181920212223242526272829303132333435363738394041BCDEDebitcreditParticluarsamountParticluarsamountbalance b/d=C9-C7WIP=C15Purchase=E32balance c/d30000=E9=SUM(E6:E7)DebitcreditParticluarsamountParticluarsamountBalance b/d9700Direct Material=C18-(C16+C17+C14)Finished goods=C24Labor=3700*2balance c/d=(1200+7000+600)Factory overhead12000=E18=SUM(E15:E16)DebitcreditParticluarsamountParticluarsamountBalance b/d12780Sales48000WIP=C26-(C23+C25)balance c/d18900gross profit=88000*(60/160)=E26=SUM(E23:E24)DebitcreditParticluarsamountParticluarsamountCash8700Balance b/d5678balance c/d1900Direct material (purchase)=E34-E31=SUM(C31:C32)=C34DebitcreditParticluarsamountParticluarsamountsales88000Gross prrofit=C25Balanc c/d=E41-E39=C39=C41Direct material controlWork in processFinished GoodsAccounts PayableCost of goods sold
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Cost Accounting 4
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Cost Accounting 5Management accounting & history: Roman colesium is one of the ancient places of Roman. It was a theatre and it was known for its architecture and the various activities which have been played in the place. History (2018) explains that in former time, the building was one of the highest visited place in the roman but with the time, people have lose their interest in the place and until 18thcentury, people were using the place for building material. In 18th century, two third part of the place had been destroyed and then the related parties made few changes into the place to make it attractive again and made it in such a manner that people could use it. It explains that the changes are the part of everything in the world. Every place, thing, item, tool, techniques, machineries etc must be changed with time. If it doesn’t happen than
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Cost Accounting 6the thing loses its importance. Same has happened with the cost accounting, in last few decades, the managers have lost their interest in the cost accounting techniques due to its non practice tools and techniques. But few innovation and the modern technologies have helped the manager to develop the trust again and manage the better performance of the company on the basis of modern cost accounting. . Figure 1Process costing:Normal Solution:Casablanca LimitedProduction ReportProcess 1Physical Equivalent UnitsTotalFlowsMaterialLabourUnits to account for: From beginning WIP5600 Units started during the year45600Total units to account for51200Units accounted for:
Cost Accounting Projects Reports_6

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