Accounting Tools

SEPTEMBER 3, 2023

Related Courses Cost Accounting Fundamentals Financial Analysis What is a Sunk Cost? A sunk cost is a cost that an entity has incurred, and which it can no longer recover. Sunk costs should not be considered when making the decision to continue investing in an ongoing project, since these costs cannot be recovered.

Computation 75

Computation Financial Analysis Cost Accounting Accounting 75

Accounting Tools

OCTOBER 22, 2023

There may also be a verification step, where the count results are compared to the inventory unit counts in a company's computer system. Verify Counts The cost accountant compares the resulting information to the unit balances maintained in the company's perpetual inventory system (assuming that it has one).

Computation 75

Computation Reconciling Auditing Cost Accounting 75

Accounting Tools

MAY 1, 2024

The resulting information can give insights into how overhead costs are being consumed by various activities. Its production team typically has to reset a computer-aided sheet metal bending machine 1,000 times per year, as it crafts suits of armor.

Computation 40

Computation Cost Accounting Accounting Accounting 40

Accounting Tools

JULY 28, 2023

Related Courses Accounting for Inventory Activity-Based Costing Cost Accounting Fundamentals What is an Allocation Base? An allocation base is the basis upon which an entity allocates its overhead costs.

Computation 40

Computation Cost Accounting Accounting Accounting 40

Accounting Tools

OCTOBER 22, 2023

Related Courses Accounting for Inventory Cost Accounting Fundamentals What is a Job Cost Sheet? A job cost sheet is a compilation of the actual costs of a job. The report is compiled by the accounting department and distributed to the management team, to see if a job was correctly bid.

Payroll 40

Payroll Cost Accounting Computation Billing 40

Accounting Tools

DECEMBER 22, 2023

Direct labor is typically assigned to a job with a timecard (using a punch clock), timesheet (where hours worked are recorded manually), or with a networked time clock application on a computer. In all cases, the user must correctly identify the job, so that the cost information can be applied to the correct job.

Billing 75

Billing Computation Cost Accounting Accounting 75

Accounting Tools

DECEMBER 10, 2023

A cost sheet is used to compile the margin earned on a product or job, and can form the basis for the setting of prices on similar products in the future. It can also be used as the basis for a variety of cost control measures.

Cost Accounting 40

Cost Accounting Computation Billing Accounting 40