Tracing Costs: 동영상 및 연습문제
Tracing Costs in a job order costing system means following production costs to one specific job as it moves through production. The process begins in raw materials inventory, where direct materials are identified and documented. A bill of materials lists all raw materials needed to complete the job, while a materials requisition form records materials leaving the storeroom and connects their cost to a specific job number. A raw materials record then tracks the stock of each material over time.
As the job moves into work in process, companies trace direct labor using a time ticket. A time ticket records the hours one employee worked across jobs during a time period, including the job numbers, hours, and labor cost assigned to each job. Because one job may involve many employees and many time tickets, managers gather all direct materials and direct labor information so the costs tied to that specific job can be accumulated accurately.
Tracing Direct Materials Cost to a Job
Tracing Direct Materials Cost to a Job
Prisca’s Printing Co. needs to take specialty glitter ink out of their inventory to use on their next job order. When they take the glitter ink out of their inventory, which document would they use to track the cost of glitter ink to job the glitter ink is being used for?
Bill of Materials.
Materials Requisition Form.
Raw Materials Record.
General Journal.
Tracing Direct Labor Cost to a Job
Tracing Direct Labor Cost to a Job
At what stage in the production process are time ticket traced?
Raw Materials Inventory.
Work in Process.
Finished Goods.
Costs of Good Sold.
학생들이 이 주제에 대해 묻는 질문은 다음과 같습니다:
The bill of materials is a key document in tracing costs within a job order costing system. It lists all the raw materials needed to complete a specific job, including the quantity and description of each item. Think of it as a recipe that outlines exactly what materials are required to produce the job, such as a chair or any other product. While the bill of materials itself does not assign costs, it provides the foundation for tracking materials by specifying what is needed. This helps managers and accountants know what to expect in terms of materials usage and supports accurate cost tracing when combined with other documents like the materials requisition form.
The materials requisition form is crucial for tracing direct material costs because it records the actual materials taken from the storeroom for a specific job. Unlike the bill of materials, which only lists needed materials, the requisition form tracks what materials leave inventory and assigns their costs to a job number. This means it connects the physical movement of materials to their monetary value, allowing companies to accurately trace how much was spent on materials for each job. Multiple requisition forms can be used for one job, reflecting the staggered use of materials during production.
A time ticket is used to trace direct labor costs by recording the hours an employee works on specific jobs during a given period. It includes details such as the employee's name, hourly wage, job numbers worked on, and hours spent on each job. This allows companies to assign labor costs accurately to each job, even if an employee works on multiple jobs in one day. By collecting all time tickets related to a job, managers can sum the labor costs and add them to the job cost sheet, ensuring precise tracking of direct labor expenses.
Tracking costs by job number is essential in job order costing because it allows companies to accumulate all direct materials and direct labor costs related to a specific job. Each job has a unique job number that appears on documents like the bill of materials, materials requisition forms, and time tickets. This consistent labeling ensures that costs are accurately assigned and not mixed with other jobs. It helps managers monitor the expenses of individual jobs, evaluate profitability, and make informed decisions about pricing and resource allocation.
The raw materials record helps in cost tracing by tracking the inventory levels and movements of each raw material over time. It records purchases, requisitions, and remaining stock for individual materials, such as nails or engines. This detailed tracking allows companies to monitor how much material is available and how much has been used for specific jobs, linking the cost of materials to job numbers through requisition forms. It ensures accurate inventory management and supports the overall tracing of direct material costs in the production process.
