1. LESSON 19-2 Maintaining Manufacturing Records
6/12/2018
LESSON 19-2
Maintaining Manufacturing Records
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2. RECORDS FOR MATERIALS 1 2 3 4 1. Open a materials ledger card.
LESSON 19-2
6/12/2018
RECORDS FOR MATERIALS
page 565 1 2 3 4
1. Open a materials ledger card.
2. Record orders placed.
3. Record orders received.
4. Record the new balance.
LESSON 19-2
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3. RECORDING DIRECT MATERIALS ON A COST SHEET
LESSON 19-2
6/12/2018
RECORDING DIRECT MATERIALS ON A COST SHEET
page 566 1 4 2
1. Open a cost sheet for each job.
2. Prepare a materials requisition.
3. Update the materials ledger card.
4. Record the issuance of direct materials. 3
LESSON 19-2
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4. RECORDING DIRECT LABOR ON A COST SHEET
LESSON 19-2
6/12/2018
RECORDING DIRECT LABOR ON A COST SHEET
page 568 1
1. Each employee prepares a job-time record for each job worked on.
2. Record the total of all the job-time records for the job. 2
LESSON 19-2
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5. CALCULATING AND RECORDING FACTORY OVERHEAD
LESSON 19-2
6/12/2018
CALCULATING AND RECORDING FACTORY OVERHEAD
page 569
Estimated No. of Units (Fax Machines) Produced
Estimated Direct Labor Hours per Unit
Estimated Salary Rate per Hour
Estimated Total Direct Labor Cost × =
10,000 × 8 =
$1,000,000.00
$12.50
Estimated Direct Labor Cost
Estimated Factory Overhead
Factory Overhead Applied Rate ÷ =
$800,000.00 ÷ =
.80 or 80%
$1,000,000.00
Factory Overhead Applied Rate
Total Direct Labor Costs (Job No. 791)
Applied Overhead (Job No. 791) × =
$5,024.00 × =
$4,019.20
80%
LESSON 19-2
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6. COMPLETING A JOB COST SHEET
LESSON 19-2
6/12/2018
COMPLETING A JOB COST SHEET
page 570
1. Total direct materials.
2. Total direct labor.
3. Transfer amounts to Summary columns. 3
4. Calculate applied factory overhead. 4
5. Determine total job cost. 5 2
6. Determine cost per unit. 1 6
No. of Units
Total Costs (Job No. 791)
Cost per Unit ÷ =
$16,812.50 ÷ =
$336.25 50
LESSON 19-2
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7. FINISHED GOODS LEDGER CARD
LESSON 19-2
6/12/2018
FINISHED GOODS LEDGER CARD
page 571 2 1 4 3
1. Complete the Manufactured/Received columns.
2. Enter existing inventory balance.
Quantity × Unit Cost = Total Cost
3. Extend data for Job 791.
110 × $ = $37,323.00
50 × = 16,812.50
$54,135.50
4. Calculate total cost.
LESSON 19-2
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8. TERM REVIEW
page 572
applied overhead
LESSON 19-2