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    MA Account Format

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    Dinesh Raghavendra
    1. The document outlines typical cost flows and accounts in a manufacturing environment, showing how raw materials, work-in-process, and finished goods inventories move from the storeroom to the factory to the warehouse and finally to customers. 2. Schedules are presented showing the calculation of cost of goods manufactured and cost of goods sold for a sample year, including beginning and ending inventory balances. 3. An income statement is shown for the sample company, with net operating income calculated as sales minus cost of goods sold and operating expenses.

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    MA Account Format

    Uploaded by

    Dinesh Raghavendra
    15 views10 pages
    1. The document outlines typical cost flows and accounts in a manufacturing environment, showing how raw materials, work-in-process, and finished goods inventories move from the storeroom to the factory to the warehouse and finally to customers. 2. Schedules are presented showing the calculation of cost of goods manufactured and cost of goods sold for a sample year, including beginning and ending inventory balances. 3. An income statement is shown for the sample company, with net operating income calculated as sales minus cost of goods sold and operating expenses.

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    1. The document outlines typical cost flows and accounts in a manufacturing environment, showing how raw materials, work-in-process, and finished goods inventories move from the storeroom to the factory to the warehouse and finally to customers. 2. Schedules are presented showing the calculation of cost of goods manufactured and cost of goods sold for a sample year, including beginning and ending inventory balances. 3. An income statement is shown for the sample company, with net operating income calculated as sales minus cost of goods sold and operating expenses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    15 views10 pages

    MA Account Format

    Uploaded by

    Dinesh Raghavendra
    1. The document outlines typical cost flows and accounts in a manufacturing environment, showing how raw materials, work-in-process, and finished goods inventories move from the storeroom to the factory to the warehouse and finally to customers. 2. Schedules are presented showing the calculation of cost of goods manufactured and cost of goods sold for a sample year, including beginning and ending inventory balances. 3. An income statement is shown for the sample company, with net operating income calculated as sales minus cost of goods sold and operating expenses.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 10

    9/28/2013

    Typical MA Account Format & Work Flow


    A few templates

    9/28/2013

    Typical Cost Flows and Accounts

    Storeroom

    Factory

    Finished Goods Warehouse

    Customer

    Raw Materials Beg !n"


    # $urchases

    Work+in+$rocess Beg !n" # Raw Mat &sed # 'irect (a)or # Man *"erhead %nd !n"

    Finished Goods Beg !n"

    Cost o, Goods Sold

    Raw Mat &sed

    Cost o, Goods Manu

    # Cost o, Cost o, Goods Goods S*(' Manu

    %nd !n"

    %nd !n"

    9/28/2013

    A Schedule o, Cost o, Goods Manu,actured


    -*RT.%R- (!G.TS C&ST*M CAB!-%TS SC.%'&(% *F C*ST *F G**'S MA-&FACT&R%' F*R T.% /%AR %-'%' '%C%MB%R 012 3414 Beginning Raw Materials $10,000 Add: Raw Materials purchased 40,000 Raw Materials A aila!le "0,000 #educt: $nding Raw Materials ",000 Raw Materials %sed in &r'ducti'n $4",000 #irect (a!'r )",000 Manu*acturing + erhead 8",000 ,'tal Manu*acturing -'sts 19",000 Add: Beginning .'r/01n0&r'cess 1",000 210,000 #educt: $nding .'r/01n &r'cess 20,000 -'st '* 2''ds Manu*actured $190,000

    9/28/2013

    Schedule o, Cost o, Goods Sold


    -*RT.%R- (!G.TS C&ST*M CAB!-%TS SC.%'&(% *F C*ST *F G**'S S*(' F*R T.% /%AR %-'%' '%C%MB%R 012 3414 Beginning 3inished 2''ds 1n ent'r4 $30,000 Add: -'st '* 2''ds Manu*actured 190,000 2''ds A aila!le *'r 5ale $220,000 #educt: $nding 3inished 2''ds 1n ent'r4 ",000 -'st '* 2''ds 5'ld $21",000

    9/28/2013

    The !ncome Statement


    -*RT.%R- (!G.TS C&ST*M CAB!-%TS !-C*M% STAT%M%-T F*R T.% /%AR %-'%' '%C%MB%R 012 3414 5ales -'st '* 2''ds 5'ld: Beginning 3inished 2''ds 1n ent'r4 Add: -'st '* 2''ds Manu*actured 2''ds A aila!le *'r 5ale #educt: $nding 3inished 2''ds 1n ent'r4 2r'ss Margin (ess: 5elling and Ad6inistrati e $7pense 9et +perating 1nc'6e $"00,000 $30,000 190,000 $220,000 ",000 21",000 28",000 18",000 $110,000

    "

    9/28/2013

    Cost o, Goods Sold 56!T %n"ironment7


    T.% CA(C&(AT!*- *F C*ST *F G**'S S*(' 8 6!T %-9!R*-M%-T Description Item Amount
    Raw 6aterials purchased and used in pr'ducti'n #irect la!'r c'sts incurred + erhead c'sts incurred -'st '* 2''ds 5'ld #uring the &eri'd
    Raw 6aterials purchased and used : #irect (a!'r : Manu*acturing + erhead -'st '* 2''ds 5'ld

    $"0,000 :)",000 :8",000 $200,000

    9/28/2013

    Merchandising Companies and the Cost o, $roducts: Changes in


    the Schedule o, Cost o, Goods Sold
    A Merchandising Company SC.%'&(% *F C*ST *F G**'S S*(' F*R T.% /%AR %-'%' '%C%MB%R 012 ;;;; Beginning Merchandise 1n ent'r4 $777 Add: $urchases 777,777 2''ds A aila!le *'r 5ale $777,777 #educt: $nding Merchandise 1n ent'r4 7,777 -'st '* 2''ds 5'ld $777,777

    9/28/2013

    Merchandising Companies:
    !ncome Statement
    A Merchandising Company !-C*M% STAT%M%-T F*R T.% /%AR %-'%' '%C%MB%R 012 ;;;;
    5ales -'st '* 2''ds 5'ld: Beginning Merchandise 1n ent'r4 Add: $urchases 2''ds A aila!le *'r 5ale #educt: $nding Merchandise 1n ent'r4 2r'ss Margin (ess: 5elling and Ad6inistrati e $7pense 9et +perating 1nc'6e $777,777 $77,777 777,777 $777,777 7,777

    777,777 777,777 777,777 $777,777

    9/28/2013

    Cost Flows in a Traditional Manu,acturing %n"ironment


    Direct Materials As Products Are Produced Balance Sheet Inventories As Products Are SOLD Income Statement

    Direct Labor

    Manu,acturing *"erhead

    $eriod Costs

    9/28/2013

    %nd o, Slides

    10

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