AR Group 15-16 © A.Ayuso 1
CONTENTS:
1.- Introduction
2.- The Company
3.- Making products
4.- Conclusions
5.- Questions?
1st practice
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introd, Apuntes de Administración de Empresas
Asignatura: Comptabilitat de costos, Profesor: Amparo Ayuso, Carrera: Administració i Direcció d'Empreses, Universidad: UV
Tipo: Apuntes
2015/2016
1 / 19
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© A.Ayuso
CONTENTS:
1.- Introduction2.- The Company3.- Making products4.- Conclusions5.- Questions?
st
practice
© A.Ayuso
2.- The Company
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What do you need to produce one table?
RAW MATERIALS
AUXILIARY MATERIALS
and
3.- Making products
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And, What else do you need?
WORKERS, EMPLOYEES
SUPERVISORS
and
3.- Making products
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And, What more …? Electricity
WaterTelephonesInsuranceCleaning staffBuildingsRent, leasing DepreciationOthers costs…
3.- Making products
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PROCESS
Inputs
output
MaterialsLabor costElectricityWaterTelephoneInsuranceTaxRentDepreciationOther costs
A piece of furniture:A table, a chair, etc.
To produce….
3.- Making products
design processcutting processassembly processpainting processpacking process
© A.Ayuso
Cost Flows visualized
AR Group 15-
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11
General- Ledger T-Accounts Cost Flow (I)General- Ledger T-Accounts Cost Flow (I)
Direct Materials inventory
Work-in –Process Inventory
Finished Goods Inventory
Direct Mfg.Labor Costs Indirect Mfg.Costs
I N C O M E S T A T E M E N T
AR Group 15-
© A.Ayuso
Total Manufacturing costs to account for
T-account: Work in Process inventory
Manufacturing costs incurredduring the period:•Direct materials used•Direct manufacturing labor•Manufacturing Overheads costs
Ending work in progress
Costs of goods manufactured Units
Unit costs
Total amount
Units
Unit costs
Total amount
Beginning work in progress
Units
Unit costs
Total amount
Units
Unit costs
Total amount
The sum of Debit
The sum of Credit
AR Group 15-
© A.Ayuso
B
eginning Finished Goods inventory
Costs of goods soldEnding Finished Goods inventory
T-Accounts: Finished Goods inventory
Cost of goods available for sale
Units
Unit costs
Total amount
Costs of goods manufactured Units
Unit costs
Total amount
Units
Unit costs
Total amount
Units
Unit costs
Total amount
The sum of Debit
The sum of Credit
© A.Ayuso
Beginning work in progressManufacturing costs incurred during the period: •
Direct materials used
Direct manufacturing labour
Indirect mfg. costs
Ending work in progress
Costs of goods manufactured?
Total Manufacturing costs to account for
∑
Debit
∑
Credit
Work in Process inventory
CONCEPTS
UNITS
U.C
T.A.
Direct Material usedDirect Manufacturing labor costsManufacturing Overheads costsMfg.costs incurred during the periodBeginning work in progressTotal Mfg. costs to account forEnding work in progressCosts of goods manufactured
Work in Process inventory
Schedule of cost of goods manufactured
© A.Ayuso
Beginning Finished Goods inventoryCostsof goods manufactured
Ending Finished Goods inventory
Costs of goods sold?
Finished Goods inventory
Cost of goods available for sale
∑
Debit
∑
Credit
CONCEPTS
UNITS
U.C.
T.A.
Beginning inventoryCosts of goods manufacturedCost of goods available forsaleEnding inventoryCosts of goods sold
Schedule of Finished Goods inventory
© A.Ayuso
Any questions?
Thank you for your attention.