unit costs and total costs), and begins to keep track of the entire job's costs via a Job Cost Sheet (see Figure 4 for the Job Cost Sheets).
The job cost sheets for all three of the jobs can now be completed.
Using the data from the completed Job Cost Sheets, fill in the blank T-accounts on Figure 5, which assumes that the table is finished and sold, the bookshelves are finished, and the china cabinet is not finished.
To complete the job cost sheets in Part I, the instructor just tells the students how much manufacturing overhead to charge to each job.
Now, the instructor fills out another set of Job Cost Sheets (see Figure 4).
Students have done well with the material requisitions, building the product, and accumulating material and labor costs on job cost sheets, but sometimes need help with the overhead allocation.
They should gain this understanding by summarizing the production cost on their job cost sheet.
Teams enter job cost information (the job name, product description) on the job cost sheet.
The remaining copy returns to production with the material, where it is used as the source document to record raw materials on the job cost sheet.
Job coordinator ships the completed job to finished goods and forwards completed job cost sheets to cost accounting.
The forms consist of a job cost sheet, material requisition forms, time sheets, raw material inventory cards, and receiving reports (see Exhibit 1 in instructors' notes for all simulation forms).
The T account represents the job cost sheet prepared by the team during production.