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    Cost Cycle Ch2 Lect Notes

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    Mano Tostes
    This document summarizes the historical actual full absorption costing method. It shows the inventory accounts - raw materials, work in progress, and finished goods - on the assets side of the balance sheet. It also shows cost of goods sold and expenses on the income statement side. The full absorption costing method allocates all manufacturing and non-manufacturing costs to inventory at each stage of production.

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    Cost Cycle Ch2 Lect Notes

    Uploaded by

    Mano Tostes
    4 views1 page
    This document summarizes the historical actual full absorption costing method. It shows the inventory accounts - raw materials, work in progress, and finished goods - on the assets side of the balance sheet. It also shows cost of goods sold and expenses on the income statement side. The full absorption costing method allocates all manufacturing and non-manufacturing costs to inventory at each stage of production.

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    This document summarizes the historical actual full absorption costing method. It shows the inventory accounts - raw materials, work in progress, and finished goods - on the assets side of the balance sheet. It also shows cost of goods sold and expenses on the income statement side. The full absorption costing method allocates all manufacturing and non-manufacturing costs to inventory at each stage of production.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    4 views1 page

    Cost Cycle Ch2 Lect Notes

    Uploaded by

    Mano Tostes
    This document summarizes the historical actual full absorption costing method. It shows the inventory accounts - raw materials, work in progress, and finished goods - on the assets side of the balance sheet. It also shows cost of goods sold and expenses on the income statement side. The full absorption costing method allocates all manufacturing and non-manufacturing costs to inventory at each stage of production.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    of 1

    Chapter 2 Cost Cycle------- Historical Actual Full Absorption Costing

    ASSETS=
    CURRENT ASSETS: INVENTORY
    RAW WIP F/G
    beg'n GUP beg'n CofG MFG beg'n 0 COS
    add:Pur add: 0 add: 0 0
    GAP 0 0 D/M 0 GAS 0
    D/L Balance Sheet
    EI FOH 0 EI
    CPC 0
    TPC 0
    EI

    LIABILITY + EQUITY

    FOH I/L Revenue COS


    RENT 0 0
    UTIL
    MTC
    OTHER
    ROYALITY($1X30,000)
    RENT EQUIP
    0
    Adv Rent
    Income Statement

    S&A sal other

    Net Income (Loss) 0

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