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Management Accounting(MA) Assignment

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Added on  2020-05-28

Management Accounting(MA) Assignment

   Added on 2020-05-28

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Running head: MANAGEMENT ACCOUNTINGManagement AccountingName of the Student: Name of the University:Author’s Note:
Management Accounting(MA) Assignment_1
MANAGEMENT ACCOUNTING1Table of ContentsIntroduction:...............................................................................................................................2Body:..........................................................................................................................................2Suitable Circumstances for Job Order Costing System:........................................................2Work-in-Process Balance:......................................................................................................3Cost of Chairs in Finished Goods Inventory:.........................................................................3Computation of Over or Under Applied Overhead:...............................................................4Different Treatments for Adjusting Over Applied Overheads:..............................................5Approach for Adjusting Over Applied Material Cost:...........................................................6Activity Based Costing..........................................................................................................7Conclusion:................................................................................................................................8Reference List............................................................................................................................9
Management Accounting(MA) Assignment_2
MANAGEMENT ACCOUNTING2Introduction:Turramurra furniture manufactures furniture, specialised for using with computers.There are different furniture, produced under different job numbers. This report is prepared todetermine the cost of each type of furniture and explain the process of cost estimation underjob order costing system.Body:Suitable Circumstances for Job Order Costing System: There are various circumstances in which the process of job order costing system canbe used by the organizations and individuals. The job order costing system is usuallyemployed by the firms that produce a number of products that are different in nature. It is anextensively exploited costing system in the production along with the industries associatedwith the service sector. The production firms that are using the job costing process generallygain he orders for customised services and products (Öker and Adıgüzel 2016). These ordersthat are customised in nature are known as batches or jobs. When a firm grants jobs andorders for various products, the cost assignment to the product becomes a complex task. Inthis scenario, the record of the cost for every specific job is kept due to the fact that each ofthe jobs has various products and the various costs related with it (Trépanier et al. 2014). Thecost per unit of a specific job is calculated by dividing the overall cost allocated to that job bythe number of specific units associated with the job. The three basic elements of job costingsystem include the materials, labour cost and the factory overhead. Work-in-Process Balance:ParticularsSE523PS612CH421DS174Total
Management Accounting(MA) Assignment_3

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