9 Question assignment (9 including the one below being 1/9) questions 8 and 9 have two attachments to show the full question, but there are only 9.
thank you in advance,
Consider job costing and let’s use our classic entrepreneurial endeavors as an example to learn, consider(running a lemonade stand or neighborhood lawn mowing services, making crafts to sell at a local crafts fair, babysitting, etc.). Imagine these products and services as businesses, in which you are the manager with several teenagers as your employees.
In your initial post, define the “jobs” in job costing. Explain how you would measure direct materials cost, direct labor cost, and compute predetermined overhead rates.
What are your actual manufacturing overhead costs, and why aren’t they traced to jobs, just as direct materials and direct labor are traced to jobs?
Give reasons why overhead might be under-applied or over-applied in a given year.
What factors should be considered in selecting a base to be used in computing the predetermined overhead rate? Why?
When you read the posts submitted by your peers, provide feedback explaining what you would have done differently. Ask for clarification regarding their definitions or decisions that seem unclear to you. Identify areas where you concur with their thinking.