Sm Ch 17

Topics: Inventory, Management accounting, Manufacturing Pages: 60 (10975 words) Published: January 4, 2015
CHAPTER 17
JOB ORDER COST SYSTEMS
AND OVERHEAD ALLOCATIONS
OVERVIEW OF BRIEF EXERCISES, EXERCISES, PROBLEMS, AND CRITICAL THINKING CASES
Brief
Exercises
B. Ex. 17.1
B. Ex. 17.2
B. Ex. 17.3
B. Ex. 17.4
B. Ex. 17.5
B. Ex. 17.6
B. Ex. 17.7
B. Ex. 17.8
B. Ex. 17.9
B. Ex. 17.10

Topic
Accounting for overhead
Transferring costs
Overhead application rates
Actual and applied overhead
Selecting a cost system
Applying direct labor
Applying direct materials
Recording manufacturing costs
Selecting activity bases
Activity-based costing

Exercises
17.1

Topic
Accounting terminology

17.2
17.3
17.4
17.5

Understanding cost flows
Job costing journal entries
Overhead cost drivers
Real World: Granite Construction, Inc.
Cost classifications
Cost flow and financial statements
Journalizing and reporting
Journalizing and reporting
Journalizing and reporting
Journalizing and reporting
Solving for missing information
Solving for missing information
Financial reporting
Activity-based costing
Using ABC for bidding

17.6
17.7
17.8
17.9
17.10
17.11
17.12
17.13
17.14
17.15

Learning
Objectives
17-5
17-5
17-3
17-3, 17-5
17-1, 17-2
17-5
17-5
17-5
17-6
17-6
Learning
Objectives
17-1–4, 17-6,
17-7
17-1–17-5
17-1–17-5
17-3, 17-6
17-2
17-3–17-5
17-3–17-5
17-3–17-5
17-3–17-5
17-3–17-5
17-3–17-5
17-3–17-5
17-3–17-5
17-6, 17-7
17-6, 17-7

Skills
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis

Skills
Analysis
Analysis
Analysis
Analysis, communication
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis
Analysis

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

Problems
Sets A, B
17.1 A,B
17.2 A,B
17.3 A,B
17.4 A,B
17.5 A,B

Topic
Job order computations and journal entries
Job order computations and journal
entries
Comprehensive job order problem
Comprehensive job order problem
Analyzing cost drivers

17.6 A,B
17.7 A,B
17.8 A,B

Activity-based costing
ABC versus single cost driver
ABC versus single cost driver

Critical Thinking Cases
17.1
Overhead assignment and performance
evaluation
17.2
Implementing ABC
17.3

Bidding wars
(Ethics, fraud & corporate governance)

17.4

Real World: C. Erickson & Sons, Inc.
Reducing overhead (Internet)

Learning
Objectives
17-1–17-5
17-1–17-5
17-1–17-5
17-1–17-5
17-1–17-5
17-1–17-5

17-6, 17-7
17-6, 17-7
17-6, 17-7

Skills
Analysis
Analysis
Analysis
Analysis
Analysis,
communication,
judgment
Analysis, communication
Analysis, communication
Analysis,
communication,
judgment

17-1, 17-3,
17-6, 17-7
17-6, 17-7

Analysis, judgment,
communication
Communication,
judgment, analysis
17-1, 17-2, 17-4 Analysis, judgment,
communication
17-1, 17-2,
17-4, 17-7

Communication,
technology, judgment,
research

Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.

DESCRIPTIONS OF PROBLEMS AND CRITICAL THINKING CASES
Below are brief descriptions of each problem, case, and the first Internet assignment. These descriptions are accompanied by the estimated time (in minutes) required for completion and by a difficulty rating. The time estimates assume use of the partially filled-in working papers.

Problems (Sets A and B)
17.1 A,B

Jensen Fences/Winona Enterprises
Prepare journal entries to record the flow of costs when using job order costing. Also compute the amount of each cost element which has been assigned to jobs still in process.

20 Easy

17.2 A,B

O’Shaughnessy Mfg./Fargo Development
Prepare journal entries to summarize the flow of costs when using job order costing.

15 Easy

17.3 A,B

Georgia Woods, Inc./Lincoln Estates...
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