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For this discussion, think about your personal experience with the topics along with the material covered in this module.
Instructions:
This module discusses the different types of costs that are found in different types of businesses and how they are applied to jobs. Discuss all of the following:
The flow of costs from raw materials to cost of goods sold (the flow all the way through the production process until they are sold to a customer) in a manufacturing organization.
How the cost flows differ in a depending on the type of business (retail organizations, service organizations, and manufacturing organizations).
How costs flow in your organization based on your understanding of the material.
Optional Additional Videos of Examples:
1. Direct vs. Indirect Costs:
Source: Accounting University. (2017). What is a Direct Cost vs. Indirect Cost? Retrieved from: https://youtu.be/PT4zQYdQIz4
2. Job vs. Process Costing:
Source: ProfAlldredge. (2015). Managerial Accounting: Job vs. Process Costing. Retrieved from:https://youtu.be/YkiQbR4BO5ELinks to an external site.
3. Allocating overhead using a predetermined overhead rate
Source: Ingram, K. (2013). Allocating Overhead Using a Predetermined Overhead Rate. Retrieved from: https://youtu.be/L0B2UDwmBoM
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