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What journal entry is made in a job order costing system when 8000 of material are requisitioned for general factory use instead of for use in a particular job?
Wiki User
∙ 14y ago
The journal entry is
Manufacture Overhead 8000
Raw Materials 8000
Wiki User
∙ 14y ago
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Manufactured overhead costs N500 000.00 units produced 10 000 direct materials N24.00 and direct labor N12.00 what is a predetermined overhead rate?
What journal entry is made in a job-order costing system when $8000 of material are requisitioned for general factory use instead of for use in a particular job?
What costing method considers variable factory overhead a product cost?
variable costing
What is done to the plastic material in the plastic factory?
what is done to plastic material in the plastic factory
What is done to the plastics material in the plastic factory?
what is done to plastic material in the plastic factory
What is done to the plastic material in plastic factory?
what is done to plastic material in the plastic factory
Definition of full costing method?
a.k.a. Absorption Costing, is a method that includes direct manufacturing costs as well as indirect manufacturing costs such as machine depreciation and factory. (GAAP Required)
When the variable costing method is used how does fixed factory overhead appear on the income statement?
fixed expense
How is rate of a material found out in quantity surveying?
Rate of material is calculated as follows: Basic market rate Ex factory - Rs X Add Excise duty if applicable Total - Rs A Add transportation cost from factory to site Total - Rs B Add taxes such as VAT, State sales tax, Central sales tax etc., as applicable Total - Rs C Add octroi or entry tax if applicable Total - Rs D This is the rate of material to be considered in costing of items
What is the formula of knitted garments costing?
The question is open ended. However according the costing formula prior to costing complete garment making, you have to calculate how much fabric is need to make the garment (Use Medium). Calculate fabric Consumption (refer: http://www.onlineclothingstudy.com/2011/03/how-to-measure-fabric-consumption-of.html ). Once you get fabric consumption in Kg multiply it with with fabric cost. Simple formula is = material cost + Cut and Make (CM) cost + Overhead Where, - Material cost includes fabric cost, all trims and packing material cost. - CM includes cutting fabric and stitching cost. - and overhead is staffs cost and factory running cost. this taken as a percentage of Material cost and CM cost. For details you can refer to my site: www.onlineclothingstudy.com
Why you want work on a factory company?
I started my carrier at a very junior level as Management Trainee in a factory and last ten heading Finance & Accounts department . I am handling finance, accounts, MIS , budget , Costing in-dependably of a mid size factory operation.
What does a factory need in order for it to be successful?
works and the right material's.
Does industry and factory mean the same?
No, a factory produces a product; while an industry refers to the product and all the factories that produce that particular product.
