Job Order Costing

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Across
  1. 2. This is an inventory system that adjusts the inventory accounts at the end of a period using data determined from a physical count.
  2. 4. This method of calculating average cost would prove to be more useful in computing for the new weighted average cost every time a purchase or production is completed.
  3. 6. This account is debited when indirect materials are incurred (Acronym)
  4. 10. This method implies that the cost of the beginning inventory and the cost of production made early in the period are the fist to flow out of the firm and comprise the cost of goods sold (Acronym)
  5. 11. Is where the conversion of raw materials into finished products take place.
  6. 13. Is a costing system that is used by companies that make large quantities of homogeneous goods.
  7. 14. This inventory system are directly adjusted for each acquisition of materials and transfer of the cost of an item sold from the Finished Goods Inventory to Cost of Goods Sold as these event actually occur.
  8. 15. Is mechanism for sharing information and delivering data from corporate databases to the local-area network (LAN)desktops.
  9. 16. This account well be debited for the use of direct material and direct labor in the production (Acronym)
  10. 17. A single unit or group of units identifiable as being produced to distinct customer specifications.
  11. 18. This is the stage where the finished products are stored in the warehouse awaiting for the delivery to the customer.
Down
  1. 1. The first stage where all the needed materials, labor force, machineries, and other indirect cost are purchased and determined.
  2. 3. A form that serves as a source document that indicates the type and quantities of materials to be placed into production or used in performing a service.
  3. 5. This is a valuation method that uses actual direct material, actual direct labor and applied overhead (using predetermined overhead cost)
  4. 7. This is a valuation method wherein standard cost are used in direct labor, indirect labor and factory overhead.
  5. 8. This method calculates the weighted-average cost of an inventory item on hand during the period and applies this cost to the units sold and to the ending inventory
  6. 9. This is a subsidiary record wherein the details for each job or lot can be traced.
  7. 12. The last stage in the company where the finished products are completely delivered and the company declared sales in the process.
  8. 19. this cost are not usually usually traceable to specific jobs and must be allocated to production
  9. 20. The actual cost system uses this type of cost for direct materials, direct labor and factory overhead.