Practical Job Order Costing

Name: Practical Job Order Costing
Rating: 4.7 (8 reviews)

Learn and practice the Bridge computation of Job Order Costing in Excel and Over and Under Applied Overhead.

Created byDr. Jeff Hillard, CMA, CPA and John Wiley, M.Ed.

Last updated 8/2023

English

What you'll learn

Overview and Terminology of Job Order Costing
Nascar Racing Car Bodies Introduction and Classification Drill
Review: Accounting for Inventory Flows: Base Method
Service Job Cost and Margin Record: Trusty and Accurate CPA's
Before, During, After & Fixit Method: Manufacturing Overhead (MOH) Over Under Allocated

Course content

1 section • 5 lectures • 33m total length

Overview and Terminology of Job Order Costing6:10
The Big Picture of When Job Order Costing is used and Key Terms.
Nascar Racing Car Bodies Introduction and Classification Drill2:02
Watch a five minute “How It’s Made” factory tour then complete a graded classification practice.
Review: Accounting for Inventory Flows: Base Method9:36
Review the Transactions, BASE Method Flow of Costs and Job Cost and Margin Report then Practice them on Bridge Templates.
Service Job Cost and Margin Record: Trusty and Accurate CPA’s3:31
Review the many similarities and few differences for a Service Business.
Before, During, After & Fixit Method: Manufacturing Overhead (MOH) Allocation11:58
Learn the Why and How of this challenging topic with our unique four step process on one Excel Sheet.

Requirements

No prior accounting experience required.

Description

Learn and practice the straightforward Bridge computation of Job Order Costing in Excel and Over and Under Applied Manufacturing Overhead. Like all Practical Accounting modules, a beginner friendly workbook is included, along with a walk through of how to use Excel to stay organized and speed up your calculations.

Lesson 1: Overview and Terminology of Job Order Costing

Explaining Key Terms and the Big Picture of When Job Order Costing is Used.

Lesson 2: Nascar Racing Car Bodies Introduction and Classification Drill

Watch a five minute “How It’s Made” factory tour then complete a graded classification practice using the workbook attached in Lesson 1.

Lesson 3: Review: Accounting for Inventory Flows: Base Method

Review the Transactions, BASE Method Flow of Costs and Job Cost and Margin Report then Practice them on Bridge Templates in the attached workbook.

Lesson 4: Service Job Cost and Margin Record: Trusty and Accurate CPA’s

Review the many similarities and few differences when using Job Order Costing for a Service Business.

Lesson 5: Before, During, After & Fixit Method: Manufacturing Overhead (MOH) Allocation

Under & Overallocation of Manufacturing Overhead. Learn the Why and How of this challenging topic with our unique four step process on one Excel Sheet.

Who this course is for:

Managerial and Cost Accounting students, businesses, and individuals interested in accounting.