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6 Cards in this Set

  • Front
  • Back
process costing
many units of a single product

Unit Product cost = (Total manufacturing cost/Total units produced)
materials requisition form
- specifies type and quanity of materials to be drawn from storeroom
- identifies job that will be charged for the cost of materials
Job cost sheet
records the materials, labor, and overhead costs charged to a job
predetermined overhead rate
estimated total manufactureing overhead
_________________________________
estimated total allocation base
underapplied overhead application
COGS......... $5000
Man. OH...........$5000

YOU ARE ADDING TO THE COST OF GOODS SOLD ACCOUNT
Overapplied overhead application
Man OH.........$5000
COGS..............$5000

YOU ARE DEDUCTING FORM THE COST OF GOODS SOLD ACCOUNT.