Scribd Logo
Upload

Welcome to Scribd!

  • Material Cost of Units Completed and Sold

    Uploaded by

    Angelica Sumatra
    7 views1 page
    Job order costing uses formulas to calculate material costs of units completed and sold by tracking raw material inventory, purchases, and finished goods inventory beginning and ending balances. It also calculates the cost of raw materials for a period by considering purchases, and changes in raw material inventory levels.

    Original Description:

    Job order costing formula

    Original Title

    Cost Formulas

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Job order costing uses formulas to calculate material costs of units completed and sold by tracking raw material inventory, purchases, and finished goods inventory beginning and ending balances. It also calculates the cost of raw materials for a period by considering purchases, and changes in raw material inventory levels.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    7 views1 page

    Material Cost of Units Completed and Sold

    Uploaded by

    Angelica Sumatra
    Job order costing uses formulas to calculate material costs of units completed and sold by tracking raw material inventory, purchases, and finished goods inventory beginning and ending balances. It also calculates the cost of raw materials for a period by considering purchases, and changes in raw material inventory levels.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Job Order Costing Formulas

    Material Cost of Units Completed and Sold:


    RIP, beg xx
    plus: Purchases xx
    less: RIP inventory, end xx
    MC of Units Completed xx
    plus: FG, beg xx
    less: FG inventory, end xx
    MC of Units Sold xx

    Cost of Raw Materials:


    Raw Materials xx
    Plus: Decrease in RM Inty xx
    Less: Increase in RM Inty xx
    Cost of RM for the period xx

    You might also like