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Essay / Research Paper Abstract
An 8 page paper that explains job costing approaches that are used in manufacturing firms, focusing on computer manufacturers. Job cost analysis and job order costing are explained. Examples are provided. Activity based costing is also discussed. The items typically omitted from job costing are identified. Bibliography lists 6 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGpcjbcs.rtf
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Unformatted sample text from the term paper:
This kind of an analysis includes all components in the manufacturing process and considers the following lengthy list of tasks: * Direct materials purchased to manufacture the product, including raw
materials or component parts (MIT, nd; Baylor College, nd). * Direct labor used to manufacture the product (MIT, nd; Baylor College, nd). * Overhead costs, e.g., rent, utilities, and
so on (MIT, nd; Baylor College, nd). * Costs incurred to advertise and sell the product (MIT, nd). * Costs incurred to transport the product (MIT, nd). As an
example, we could look at the hypothetical case of calculating a job cost sheet for manufacturing the motherboard in a computer. We will make the following assumptions for our
hypothetical case: * The company bought 10,000 wafers that cost $0.50 each for a total of $5,000. * It takes 20 hours of labor to work with the wafers and
that costs $8.00 per hour for a total of $160. * 10,000 chips are needed at a cost of $1.00 per chip for a total cost of $10,000. * It
takes 40 hours of labor to work with the chips at a cost of $10 per hour for a total of $400. * There are assembly costs to combine
the chips and wafers and put them on the motherboard. This costs $10 per hour and requires 56 hours for a total of $560. These can be considered overhead costs
or indirect costs. The total cost of materials is $15,000. The total cost for direct labor is $560. The total indirect cost to assemble the components is $560.
The total cost for this job is $16,120. Job order costing is a bit different. In this approach, the cost for the whole job is considered. The costs are
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