PPT-OVERHEAD ACCOUNTING

Indirect Indirect Indirect Overhead Material Labor Expenses Cost Overhead costs or supplementary cost or charges are the costs that cannot be easily identified and allocated to a cost object cost unit. Lecture Material. Objective. : . This lecture material can . be used to increase awareness of the overhead material handling industry and its products. The target audience . is any . academic who . wants to . . Cost Accounting: . Foundations & Evolutions, 9e. . Kinney and Raiborn. Learning Objectives . Why and how are overhead costs allocated to products and services?. What causes underapplied or overapplied overhead, and how is it treated at the end of a period?. Cost Accounting Principles, 9e. Raiborn. . ● . Kinney. Learning Objectives . Why and how are overhead costs allocated to products and services?. What causes underapplied or overapplied overhead, and how is it treated at the end of a period?. COST MANAGEMENT BASICS. 1. Agenda. Accounting Overview. Financial Accounting. Budgetary Accounting. Management Accounting. Output Costs. Transfer Pricing. 2. Accounting Overview. 3. “is the production of financial records about an organization. Accountancy generally produces financial statements that show in money terms the economic resources under the control of management; selecting information that is relevant and representing it faithfully. The principles of accountancy are applied to accounting, bookkeeping, and auditing.. Appendix 10A. Learning Objective 4. Compute . and interpret the fixed overhead budget and volume variances.. Budget variance. Fixed Overhead Budget Variance. Budget. variance. Budgeted. fixed. overhead. . New technology introduced terms like multimedia, hypermedia, etc. But let us admit that technology divide is real. Many schools especially those who have not been reached by electricity for one reason or another, do not have a computer. A few schools maybe bountifully blessed with computers and computer-literate teachers. But most schools are not as blessed. They may have at least one computer but teachers may have not been trained to use it. As a result, they resort to the chalkboard, the most available classroom equipment and the overhead projector which has become quite popular in schools.. C. rane Pre-op Inspections. 1. Disclaimer. The following information is for . informational use . only. . This is not intended to replace or add on to the . state/federal . regulations or guidelines.. Professor Marc Smith. CHAPTER 1 MODULE 1. Chapter 10 Module 4. 2 Variable Overhead Variances. :. (1) Variable overhead spending variance. (2) Variable overhead efficiency variance. ● A positive variance is referred to as an. Computation of machine hour rate(. mhr. ). MHR refers to the overhead cost of running a machine for one hour. Steps for computation:. 1. The overheads concerning the machine are divided into fixed & variable overheads. Fixed are those that remain constant irrespective of the use of the machine . After the overheads costs are collected & codified the next step is Allocation ands Apportionment.. Departmentalization or Primary Distribution. It is the process of allocation & apportionment of overhead cost to different departments or cost centres. . Systems of Cost Accounting. . Integral or Integrated accounting system. : . Financial & cost accounts are merged & single set of books are maintained. Non-integral or Non integrated (independent) accounting system. Indirect + Indirect + Indirect = Overhead. Material Labor Expenses Cost. Overhead costs or supplementary cost or charges are the costs that cannot be easily identified and allocated to a cost object/ cost unit.. Absorption of factory overheads. Introduction: . Once departmentalization (both primary & secondary) is completed , the total overhead cost pertaining to a production department or cost centre is to be charged to the cost of products cost units.. -. Overhead.  refers to the ongoing business expenses not directly attributed to creating a product or service. It is important for budgeting purposes but also for determining how much a company must charge for its products or services to make a...