ACC 312 Study Guide - Midterm Guide: Subledger, Afterall, Regional Policy Of The European Union
Document Summary
The flow of materials, labor, and overhead costs: the flow of costs through the manufacturing accounts is basically the same for process and job-order costing, direct material, direct labor and manufacturing overhead are added to work in process. When work in process is completed the costs are transferred to. The individual job cost sheets serve as a subsidiary ledger: process costing systems trace and apply manufacturing costs to departments, a separate work in process account is maintained for each processing department. Process account depending on where the materials were added to the production process. The raw materials account is credited for the corresponding amounts: in journal entry form, debit the respective departmental work in process accounts. Materials: the flow of labor costs, in t-account form, direct labor costs are debited to the appropriate departmental work in. Process account depending on where the labor was added to the production process.
