ACC207 Southern New SRS Educational Press Job Costing System Project

Cost Structures A. Prepare an overview diagram of the job-costing system at the SRS Educational Press. [ACC-207-01] B. In a spreadsheet, prepare journal entries to summarize the 2017 transactions. For your final entry, dispose of the year-end under- or overallocated manufacturing overhead as a write-off to the Cost of Goods Sold account. Number your entries. Explanations for each entry may be omitted. [ACC-207-01] C. In a spreadsheet, show posted T-accounts for all inventories and the cost of goods sold, the manufacturing overhead control, and the manufacturing overhead allocated. [ACC-207-01] D. How was the SRS Educational Press performance in 2017? Should the company continue to have in-house press production? Did SRS accurately budget for manufacturing overhead costs? Support your answers with relevant data. Also, briefly explain how the firm can dispose of under- or overallocated overhead costs. [ACC-207-03] E. Name at least two other products that you are familiar with that would benefit from job order costing, and briefly explain how they would benefit. [ACC207-01]

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