I see EXACTLY where you got the 165000 for WIP but it makes no sense where you get the 500,000 FG and 1,500,000 COGS.... You referenced the video you did 2 times before this but that video has an ending inventory of FG of 100,00 and a COGS of 1,900,000. What am I missing here? Where did you get those numbers? Thanks a bunch for these videos by the way!
ya I have the same question as Adam P... I just rewatched: at around 10:44 in the Job Order Journal Entry vid, you say the ending balance for FG acct is $100,000 and for COGS is $1,900,000.... so I'm really confused about where the numbers came from. Just a simple mistake? Or am I missing one of the concepts?
Little late on the reply, but I can't figure it out where the numbers came from either. Also, the way my cost accounting class is teaching proration you should be taking the percent of the sum of the ending inventories of FG, COGS, and WIP and then apply that to the over or under applied overhead.
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A simple and a clear explanation for confusion. Thank you!
Thanks for this, your videos are really helpful :)
🎉thank you sir
Very helpful, thanks a lot!!!
really good explanation...keep it up
thanks for these videos, very much appreciated :)
I see EXACTLY where you got the 165000 for WIP but it makes no sense where you get the 500,000 FG and 1,500,000 COGS.... You referenced the video you did 2 times before this but that video has an ending inventory of FG of 100,00 and a COGS of 1,900,000. What am I missing here? Where did you get those numbers? Thanks a bunch for these videos by the way!
Is there an under/over applied amount that is written off or journalized if you use Activity Based Costing?
thank you!
I did not understand the why we prorate under/over applied ? Whats the point ?
is estimated overhead same as standard overhead
But how can you know the actual amount of D.M and D.L at the beginning of the year?
+Zishan Zhao those are the amount that were ended in last year so anything that end in last year will be the beginning of new year
ya I have the same question as Adam P... I just rewatched: at around 10:44 in the Job Order Journal Entry vid, you say the ending balance for FG acct is $100,000 and for COGS is $1,900,000.... so I'm really confused about where the numbers came from. Just a simple mistake? Or am I missing one of the concepts?
Little late on the reply, but I can't figure it out where the numbers came from either. Also, the way my cost accounting class is teaching proration you should be taking the percent of the sum of the ending inventories of FG, COGS, and WIP and then apply that to the over or under applied overhead.
Joan M