JOB ORDER COSTING

AFAR 1 - Cost Accounting and Control and Strategic Cost Management

Submitted by:
DATANG, Gilliane
GARCIA, Michael Angelo
MARTIN, Isabella
MATEO, James David
TAMAYO, Cherish Divine
BSA S2-1 (Group 3)

Submitted to:
VENUS CATACUTAN
Professor
REPORTER 1: TAMAYO, Cherish Divine
TOPIC 1: JOC OVERVIEW
● Define Job Order Costing

● Information Tracked by a Job Order Costing System

● Objectives of JOC

● Characteristics of JOC

● JOC in Manufacturing Companies

REPORTER 2: MARTIN, Isabella

TOPIC 2: PRODUCT FLOW
● Major Source Documents for Job Order Costing

● 8 Basic Cost Accounting Entries

● Job Order Cost Cycle

REPORTER 3: MATEO, James David

TOPIC 3: STOCK CARD AND JOB-ORDER COST SHEET
● JOB COST SHEET
● FINISHED GOODS STOCK CARD
● FIFO COSTING
○ Perpetual Inventory System
○ Periodic Inventory System
● AVERAGE METHOD
○ Weighted Average (Periodic)
○ Moving Average (Perpetual)

REPORTER 5: DATANG, Gilliane Mhaye

TOPIC 4: PRODUCTION LOSSES
● Materials Scrap
● Accounting for Spoiled Goods (Spoilage)
● Accounting for Reworking Defective Goods