Classified in Mathematics

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Cost of goods manufactured (COGM): 

1.BegInventory+material purchased= total- end inventory=costofdirectmatused

2.Direct materials used+directlabor+factoryOH = total manufacturing cost

3.Beg. WIP+ total manufacturing cost= total - End WIP= COGM!!

Cost of goods sold:Beg finished good+ COGM= total - ending finishedgood

Purchase materials: materials. debit. Accts payable. credit

Requisition form (request materials to start production): WIP.Debit.Materials. Credit

direct labor cost: workinprocess. Debit. Wages payable. Credit

ACTUAL factory OH: Factory OH. Debit. Materials, wages payable, utilities payable, depreciation. Credit

direct labor hours, direct cost and machinery hours are activity bases

predetermined factory overhead cost: estimated total factory OH cost / estimated activity base.

APPLIED factory OH: WIP. Debit. Factory OH.Credit

Underapplied (applied < actual). COGS. Debit Factory OH. Credit

overapplied: inverse

when goods are sold: A/R. Debit(price sold). Sales. Credit

COGS. Debit (total cost). Finished goods. Credit

to transfer WIP to finished goods. Finished goods. Debit. WIP credit

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