1. Job Order Accounting-Chpt. 13 1.How do you track direct material, direct labor, and factory overhead ? 2. How do you estimate factory overhead ( factory overhead rate ) ? 3.What are he two methods of adjusting factory overhead ? 4. What accounts are used to pro-rate over/under factory overhead ? When do you use each method ?

2. Process Cost Accounting-Chpt.14 Mass Production of Identical Products Utilizing an Average Cost Per Unit For All of the Products Produced.

3. 5 Step Production Cost Report 1.Account for All of the Units 2. Calculate the Equivalent Completed Units 3.List ( Copy ) all of the Costs 4.Calculate the Cost Per Unit 5.Obtain the Value for the Units Completed and Transferred, and also for the Ending Work-in- Process

4. Future Assignments Director of internal Reporting Report…….Next in person class Corporate Analysis………..Last class Discussion Board Answers………Due 2 weeks from Tonight

5. Next Class Read Chapter # 8 Do Problems 7-30 and 7-34

6. Budgeting Budgeting is a plan for the future in monetary terms. Operating budgets= Income Statement Financial budgets = Balance Sheet

7. Operating Budgets Revenue Budgets Operating Budgets Manufacturing Budgets General & Administrative Budgets Purchasing Budgets

8. Financial Budgets Cash Budgets Capital Budgets Working Capital Budgets

9. Cash Budget Beginning Cash Balance + Cash Receipts ( collections ) = Cash Available - Cash Disbursements ( paying bills ) Ending Cash Balance

10. Purchases Budget Ending Inventory +COGS =Goods Available -Beginning Inventory =Required Purchases