# Sm Ch 17

**Topics:**Inventory, Management accounting, Manufacturing

**Pages:**60 (10975 words)

**Published:**January 4, 2015

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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