In this introductory course we explore job costing and how this impacts the accounting in a manufacturing environment. The focus on this course is on the inventory accounts used by a manufacturing company and how costs are tracked through the production process.
Course Key Concepts: Introductory managerial accounting, Job costing, Production accounting, Raw materials, Direct materials, Direct labor, Overhead allocation, Predetermined overhead rate, Inventory.
Other Modules of Introductory Managerial Accounting by Erik Slayter.
1. Introductory Managerial Accounting - Classifying Costs
2. Introductory Managerial Accounting - Job Costing
3. Introductory Managerial Accounting - Cost, Volume-Profit Analysis
4. Introductory Managerial Accounting - Budgeting
5. Introductory Managerial Accounting - Variance Analysis
6. Introductory Managerial Accounting - Capital Budgeting
Learning Objectives
- Recognize how to Interpret and classify inventory related economic events.
- Identify how to calculate predetermined overhead rate.
- Discover how to apply overhead to jobs.
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Prerequisites
Basic understanding of journal entries, t-accounts, the accounting equation (Introductory Financial Accounting) and the Introductory Managerial Accounting – Classifying Costs course.