Literally like Khanacademy, making me sleep easily with this delivery. I had someone else wake me up now and then but it wasn't enough, I still fell asleep three minutes in. Always. So much thanks.
so wait, the 45,000 Actual machine hours is what was figured out at the END of the period right? then use that with the calculated predetermined overhead rate and that is the ACTUAL overhead applied correct???
So essentially, the overhead costs (i.e. indirect cost of business lunches, custodial services etc) essentially get forced into the cost of inventory during the WIP phase, as the overhead cost is part of what needed to happen to make, let's say one guitar. Wouldn't this drive up COGS for selling one guitar?
You sir have single-handedly saved me for my exams with your videos. Excellent explanations and teaching. Thank you so much
You are actually the Khan Academy for accounting videos!!! You're gonna save me for this exam in 36 hours thankkssss:)))
Learning that accounting is more about understanding whats going on as opposed to memorizing concepts
This just helped me answer my managerial accounting questions. Your videos are awesome!
Thank you so much, this saved me so much time
Thank you so much!!!! I spent forever trying to figure this out and you taught it perfect and i figured it out, your the best!
I like how fixed costs are applied to each unit sold instead of being incurred by each unit sold. Makes for some interesting competitive advantages :)
Love your videos! They have cleared up so much for me in a short amount of time!
Literally like Khanacademy, making me sleep easily with this delivery. I had someone else wake me up now and then but it wasn't enough, I still fell asleep three minutes in. Always. So much thanks.
Do you guys have a site with practice problems?
Sir , you make it very easy thank you very much...
Thank you!
so wait, the 45,000 Actual machine hours is what was figured out at the END of the period right? then use that with the calculated predetermined overhead rate and that is the ACTUAL overhead applied correct???
good explanation
Thank you my friend!
Great Video
Great rate mate
Thank you!
Good explanation but I have a question, *Why do we debit WIP and credit MOH for applied overhead application?*
The basis was machine hours so he used WIP.
Because we are charging overhead to production
Thnk you 😢
No problem!
So essentially, the overhead costs (i.e. indirect cost of business lunches, custodial services etc) essentially get forced into the cost of inventory during the WIP phase, as the overhead cost is part of what needed to happen to make, let's say one guitar. Wouldn't this drive up COGS for selling one guitar?
Only if you didn’t apply enough overhead
رائع جدا 👍👍👍👍