1. Recording System-Illustration
Cost Accounting-I
Recording System-Illustration

2. Cost Accounting Recording System 7/A
Costs
Production Costs
710. Direct Material
711. Direct Material Applied
720. Direct Labor
721. Direct Labor Applied
730. Manufacturing (Factory) Overhead
731. Manufacturing Overhead Applied
740. Service Costs
741. Service Costs Applied
Period Costs
750. Research and Development Costs
751. Research and Development Costs Applied
760. Marketing Selling and Distributing Costs
761. Marketing Selling and Distributing Costs Applied
770. General Administrative Costs
771. General Administrative Costs Applied
780. Finance Costs
781. Finance Costs Applied
Cost Accounting Recording System 7/A
Balance Sheet or Income Statement
151. Work-in Progress
152. Finished Goods
620. Cost of Goods Sold
Income Statement
622. Service Costs
630. Research and Development Costs
631. Marketing Selling and Distributing Costs
632. General Administrative Costs
660. Finance Costs

3. STATEMENT OF COST OF GOODS SOLDTL
Cost Of Direct Material (+)
Cost Of Beginning Raw Material (+)
Net Purchases (+)
Cost Of Ending Raw Material (-)
Direct Labor Wages (+)
Factory Overheads (+)
Indirect Materials
Indirect Labor
Depreciation On Factory Building
Depreciation On Factory Equipment
Insurance
Repairs And Maintenance
Other Factory Overheads
  Current Period’s Total Cost
Work-in-progress (Beginning) (+)
Work-in-progress (Ending) (-)
Current Period’s Cost of Finished Goods
Finished Goods (Beginning) (+)
Finished Goods (Ending) (-)
Cost of Goods Sold

4. Cost Accounting Recording System Illustration
During the month of December 2003, the following transactions were completed by the factory of Batısan Co. Ltd. launching in December 20X1.
On 1st December, the company purchased raw materials at a cost of TL where one half was paid for cash and the other half was on credit.
On 12th December some of finished goods that produced until that day were sold at a price of TL , and received TL in check and TL in 61 day term note.
On 20th December, the company sold finished goods on account for TL
Bu örnek uygulamanın Türkçesi için bkz. Prof. Dr. Kamil Büyükmirza, Maliyet ve Yönetim Muhasebesi A.3.2.

5. Cost Accounting Recording System Illustration
According to the payroll register prepared on 31th December, accrued gross wages of factory workers were TL for December. Of the total salaries, employee’s social security and unemployment insurance premium of TL 3.000, and income taxes and stamp duty of TL were withheld from gross pay. Employer’s share of social security and unemployment insurance premium was TL % of gross wages is direct and 60% of gross wages is indirect labor cost. Also, employer’s premiums are classified as indirect labor cost.

6. Cost Accounting Recording System Illustration
According to the material issue note (ambar çıkış belgesi) of December, the consumption of materials inventory was TL directly and TL indirectly for production.
Estimated electricity consumption for December was TL
Factory building, whose construction was completed on November 20X1, costed TL with %2 depreciation rate. The company acquired machines, which were assembled on December 20X1, for TL with a depreciation rate of 20%. Straight line depreciation method is chosen.

7. Cost Accounting Recording System Illustration
Manufacturing costs were applied to current production of December.
Ascertained total cost of products completed in December was TL
Ascertained total cost of goods sold in December was TL
Required:
Present the journal entries of the transactions in accordance with 7/A.
Prepare the Statement Of Cost Of Goods Sold of Current Period
Prepare the Income Statement of Current Period