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6 Cards in this Set
- Front
- Back
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process costing
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many units of a single product
Unit Product cost = (Total manufacturing cost/Total units produced) |
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materials requisition form
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- specifies type and quanity of materials to be drawn from storeroom
- identifies job that will be charged for the cost of materials |
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Job cost sheet
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records the materials, labor, and overhead costs charged to a job
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predetermined overhead rate
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estimated total manufactureing overhead
_________________________________ estimated total allocation base |
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underapplied overhead application
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COGS......... $5000
Man. OH...........$5000 YOU ARE ADDING TO THE COST OF GOODS SOLD ACCOUNT |
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Overapplied overhead application
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Man OH.........$5000
COGS..............$5000 YOU ARE DEDUCTING FORM THE COST OF GOODS SOLD ACCOUNT. |
