General Ledger Manufacturing costs

General Ledger Manufacturing costs

Instructions/Descriptions

General Ledger Relationships and Manufacturing costs Worksheet

calculate (from T-accounts): amount of materials requisitioned into work in December, total direct manufacturing labor recorded in work in process during Dec, total mfg. overhead recorded in work in process, ending work in process balance, cost of goods sold before over/under allocated adjustment

Manufacturing costs Terms Discussion

I’m working on an accounting question and need an explanation and answer to help me learn.

State and describe three manufacturing cost terms. Provide an example of each term in your own words. Based on your reading and outside research, please communicate your own understanding of the requirements.

Outsourcing Budgets & Variance Analysis Questions

Many questions in both the Complete sections will have more than one part.  Be sure to answer each part of each question.  If a question requires mathematical calculations, in order to meet the word count quota, after solving please explain the calculations.  Apply research information from other websites or periodicals.

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1. What is the concept of Outsourcing? What is the rational that corporate managers use in determining Make-or-Buy decisions.
2. What are the factors that influence corporate managers to drop a product or service.
3. What is a zero-based budget? Participative budget?
4. Variance analysis Perform a basic variance analysis for Mike Tire Manufacturing.

Flexible Budget      Actual Cost      Flexible Budget Variance

Direct Materials            $75,500                       $74,000

Direct Labor                  101,250                      104,650

Variable overhead           34,500                        33495

Total Manufacturing Cost $211,250              $212145

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5. How is a fixed overhead budget variance computed? How is a fixed overhead volume variance computed?
6. How is variance analysis used by corporate management?

General Ledger Relationships and Manufacturing costs Worksheet

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