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ACC 305 Dr. Rose Martin Page 3 Presented by: Glenda Disselkoen Lelah Stiger Selena Du Laura Noguera
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Document File A=Alphabetically, D=Date,& N=Numerically Input/Output Journal/Ledger Job Time Cards Represents the input of information or the output of a calculation or an answer. Connector
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Definitions Inventory Status Report – Keeps count of Inventory. Factor Available Report – Keeps track of employee hourly availability, factory availability, and maintenance. Production Order - A document authorizing the manufacturer of a specified quantity of a particular product. It lists the operations to be performed, the quantity to be produced, and the location to which the finished product is to be delivered. (Pg. 464) Journal Voucher – A form used to summarize a group of transactions. (Pg. 784) Material Requisition – Authorizes the removal of the necessary quantity of raw materials from the storeroom to the factory location in which production operations are to begin. (Pg.785) Master Production Schedule – Specifies how much of each product is to be produced during the planning period and when that production should occur. (Pg. 462)
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Inventory Status Report Inventory Status Report Factor Availability Report Factor Availability Report Raw Materials & Finished Goods Production Control Production Department Inventory Control
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Production Control Production Department Inventory Control Cost Accounting General Ledger Production Order 1 2 3 Production Order 2 N Journal Voucher Journal Voucher Materials Placed in Production Production Order Post to WIP Records 1 WIP XXX Raw Materials XXX
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Production Control Production Department Inventory Control Cost Accounting General Ledger Material Requisition 1 1 Material Requisition 1 2 3 4 N N Material Requisition 1 2 3 Material Requisition 2 Post to WIP Records Attach to Completed Production Order
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Production Control Production Department Inventory Control Cost Accounting Post to WIP Records Production Schedule 1 Production Schedule 1 2 N Job Time Cards Job Time Cards DL XXX OH XXX DL Payable XXX Applied WIP XXX Journal Voucher Journal Voucher Conversion Costs
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Production Control Production Department Inventory Control Cost Accounting General Ledger Journal Voucher Journal Voucher Summarize Production Cost of Goods Manufactured Post to Inventory Records M M Production Status Production Status Completed Production Order Completed Production Order Completed Production Order Management 2 2 2 Finished Goods XXX WIP XXX
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