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فيديو شرح Example Job Order Costing Cost Accounting CPA Exam BAR CMA Exam ضمن كورس محاسبة التكاليف شرح قناة Farhat Lectures. The # 1 CPA & Accounting Courses، الفديو رقم 10 مجانى معتمد اونلاين
How does job order costing work with a full example? In this cost and managerial accounting lecture, Professor Farhat walks through the complete job order costing flow using T-accounts, from purchasing raw materials to recording labor and overhead, applying overhead with a predetermined rate, and closing over- or under-applied overhead to cost of goods sold. CPA and CMA candidates and accounting students will find this essential BAR exam material.
Try it free at farhatlectures.com — interactive exercises, lectures, simulations, cases, multiple choice, and AI tools for CPA, CMA, EA and students.
Video Timeline & Key Concepts:
0:00 — Introduction
0:20 — Purchasing and using raw materials
2:39 — Direct and indirect labor costs
4:07 — Manufacturing overhead incurred and applied
5:01 — Completion of jobs and sale
6:32 — Closing over- or under-applied overhead
Frequently Asked Questions:
How are raw materials recorded in job order costing?
When raw materials are used, direct materials are charged to work in process while indirect materials are charged to manufacturing overhead.
How are labor costs split?
Total labor is separated into direct labor charged to work in process and indirect labor charged to manufacturing overhead.
How is manufacturing overhead applied?
Actual overhead costs are accumulated, and overhead is applied to production using a predetermined overhead rate, which may differ from the actual overhead incurred.
How is over- or under-applied overhead handled?
The difference between applied and actual overhead is over- or under-applied overhead, which is typically closed out to cost of goods sold at the end of the period.
Is this tested on the CPA exam?
Yes. Job order costing is tested in the BAR section and on the CMA exam as part of cost accounting.
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