تقييمات الطلاب
( 5 من 5 )
١ تقييمات
فيديو شرح 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 9 مجانى معتمد اونلاين
What is job order costing and how does it differ from process costing? In this cost and managerial accounting lecture, Professor Farhat explains job order costing, the job cost sheet, and how direct materials, direct labor, and applied overhead flow through raw materials, work in process, finished goods, and cost of goods sold, including the treatment of over- and under-applied overhead. 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
0:46 — Job order costing vs. process costing
4:48 — The job cost sheet
12:16 — Raw materials and requisitions
13:15 — Work in process and applied overhead
15:30 — Predetermined overhead rate
20:50 — Finished goods and cost of goods sold
24:45 — Applied vs. actual overhead and closing the difference
Frequently Asked Questions:
When is job order costing used?
Job order costing is used for unique, distinct items or batches, such as custom machinery, furniture, or construction, where each job is tracked individually.
What is a job cost sheet?
A job cost sheet is a document used to track the direct materials, direct labor, and applied manufacturing overhead assigned to a specific job or project.
How do costs flow through the accounts?
Costs move from raw materials into work in process, which accumulates direct materials, direct labor, and applied overhead, then to finished goods when jobs are complete, and finally to cost of goods sold when the goods are sold.
How is over- or under-applied overhead handled?
When actual overhead differs from applied overhead, the difference is over- or under-applied overhead, which is closed out to cost of goods sold or allocated across inventory accounts at period end.
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.
#CPAexam #CMAexam #enrolledagentexam #accountingcourses #collegecourses #courses #BAR #jobordercosting #processcosting #costaccounting #ProfessorFarhat