Answer the questions using at least 3 of the sources provided, can use additional of your choice Keep in numbering format, this is not a papeer just answer questions with sources cited:
1. Discuss the purpose of the job cost sheet in a job-order costing system.
2. Upon what criteria should a management accountant base the decision to choose job-order costing over process costing? Explain the differences in the two systems and apply your argument to a custom jewelry designer/producer.
3. If the units produced and unit sales are equal, which method would you expect to show the higher net operating income, variable costing or absorption costing? Why?
4. If the units produced exceed unit sales, which method would you expect to show the higher net operating income, variable costing or absorption costing? Why?
Sources:
Krumwiede, K. R., & Walden, W. D. (2013). Dream
Chocolate Company: Choosing a Costing System. Issues In Accounting
Education, 28(3), 637-652. doi:10.2308/iace-50464.
Miina, A. (2013). Critical success factors of lean
thinking implementation in Estonian manufacturing companies. Baltic
Journal Of Economics, 13(1), 113-114.
Lee, R. T. (2016). Fixed and Variable Costs: When
Accounting Is the Opposite of Cash Flow Reality. Journal Of
Corporate Accounting & Finance (Wiley), 27(4), 31-35.
doi:10.1002/jcaf.22158.
Wink, G. B., & Corradino, L. J. (2010). INCOME
INFLATION: ABSORPTION COSTING VS. VARIABLE. Journal Of The
International Academy For Case Studies, 49-54.
Said, H. A. (2016). USING DIFFERENT PROBABILITY
DISTRIBUTIONS FOR MANAGERIAL ACCOUNTING TECHNIQUE: THE COST-VOLUME-PROFIT
ANALYSIS. Journal Of Business & Accounting, 9(1),
3-24.
Machuga, S., & Smith, C. (2013). A Case Method
Approach of Teaching How Cost-Volume-Profit Analysis is Connected to the
Flexible Budgeting Process and Variance Analysis. Journal Of
Accounting & Finance (2158-3625), 13(6), 178-192.
Plehn, G., Butz, T., Maagh, P.,
& Meissner, A. (2017). Effect of patient’s age on the profitability of
inpatient cardiac catheterization: a contribution margin analysis of
frequently performed procedures over a 5-year period. BMC Health
Services Research, 17(1), 49.
doi:10.1186/s12913-017-1999-4.
Videos
Absorption Costing. Retrieved {Video file]. Retrieved
from from: https://www.youtube.com/watch?v=89dZ40QRPPA (20:08)
Bell T (2013) , Variable vs Absorption Costing Part 1
[Video file]. Retrieved from: https://www.youtube.com/watch?v=-QPU6I3K2w4 (5:19).
Bell T (2013), Variable vs Absorption Costing Part 2
[Video File]. Retrieved from https://www.youtube.com/watch?v=dWCw4Uq_IjY (8:46).
Bell, T (2013), Variable vs Absorption Costing Part 3
[Video File].. Retrieved from https://www.youtube.com/watch?v=kO0RmWWPXdM (8:00).
Riley J (2016), Breakeven Analysis: Contribution &
Contribution per Unit [Video File]. Retrieved
from: https://www.youtube.com/watch?v=mN8dGY57IBk (9:24).
Doug H (2014), Create a Break-Even Analysis Chart
[Video File]. Retrieved from:https://www.youtube.com/watch?v=NqPU0gTLw5g
(12:52).
Routh B (2015). Process Costing
versus Job Costing [Video file]. Retrieved from: https://www.youtube.com/watch?v=tVY3OXlIHsk (3:47).
Job Order Costing [Video File]. Retrieved from https://www.youtube.com/watch?v=U1FnEAX-7UM
CA N Raja (2017), Natarajan
Difference between Job Costing and Process Costing [Video file]. Retrieved
from: https://www.youtube.com/watch?v=gwyhrYe9rTo (1:40).
Blazer E (2013), Process
Costing Weighted Average Method [Video File]. Retrieved from: https://www.youtube.com/watch?v=WxZc_HuxNh8 (4:4
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