Describe how your chosen business might use Job Order Costing to… Describe how your chosen business might use Job Order Costing to account for its prod

Describe how your chosen business might use Job Order Costing to… Describe how your chosen business might use Job Order Costing to account for its product(s) or service(s): What direct and indirect product costs would the company incur? List at least five costs. Are these costs variable or fixed? What typical period costs would you expect your chosen type of business to incur? List at least three period costs. What overhead allocation base would you suggest for the company to use? Explain your reasoning.  I chose to use a landscape company for the job costing. Since landscaping needs would vary between customers it is unlikely that two jobs would cost the same amount. You could have a customer that only wants lawn mowing, lawn care, planting flower beds, or even maintaining the flower beds. Maybe one would even want to do elaborate landscaping, the company would need to know how to price each job. Project costing that could be a fixed cost would be equipment and storage or if there was a charge to do an estimate for a customer. Though some companies will waive the fee if the customer accepts the estimate. Labor, plants, trees, fertilizer, weed killer, mulch, rock, and timbers are variable costs since they depend on the needs of the customer. I would hope the company is big enough to need office personnel and not just the spouse. So the period costs would be sales salary expense, advertising, office rent, utilities, and office salary expense.I would use prior data to determine the monthly predetermined rates and use direct labor as the base labor to calculate the overhead costs for each job. Each month would reflect a different rate since landscaping is not steady but is more seasonal work. Live inventory such as flowers, plants, and trees would be purchased directly from a nursey whereas mulch, fertilizer, and such could be stored without needing daily care.Works Cited Wild, J.(2020). Fundamental Accounting Principals (25th) Edition. McGraw-Hill Higher Education (US).   Just answer these following questions in reference to the above post. Do you agree with the post above? responses concerning the direct, indirect, and period costs identified for their chosen business? Explain. Would you suggest the same or a different overhead allocation base for their chosen business? Elaborate on your response comparing and contrasting their allocation base suggestion versus your allocation base suggestion. Support your responses to classmates with additional research and/or examples of your understanding of cost classification concepts and Job Order Costing systems.  Be sure to post at least one reference in support of your explanations and conclusions. Accounting Business Managerial Accounting ACCT 281 Share QuestionEmailCopy link Comments (0)

Difference between APA 6TH edition and APA 7th edition

APA (American Psychological Association) is a citation and referencing style used in social sciences. The two most recent versions of APA style are the 6th and 7th editions, which have some significant differences.
APA 6th Edition:
The 6th edition of APA was published in 2009 and it provides guidelines for writing research papers and essays.
In-text citations in this edition were required to include the author’s last name, the year of publication and page number.
The reference list in APA 6th edition should be double-spaced and include the publication date for each source.
Example of an in-text citation in APA 6th edition: (Smith, 2009, p.5)

APA 7th Edition:
The 7th edition of APA was published in October 2019.
It includes updates to formatting, referencing, and language use. The major change in the 7th edition is the removal of the requirement for including the retrieval date for electronic sources.
Additionally, the 7th edition has a new format for citing online sources. Example of an in-text citation in APA 7th edition:
(Smith, 2009)
Overall, the 7th edition of APA provides a more streamlined and simplified approach to referencing, making it easier for students and researchers to follow.

Describe how your chosen business might use Job Order Costing to…          Describe how your chosen business might use Job Order Costing to account for its product(s) or service(s): What direct and indirect product costs would the company incur? List at least five costs. Are these costs variable or fixed? What typical period costs would you expect your chosen type of business to incur? List at least three period costs. What overhead allocation base would you suggest for the company to use? Explain your reasoning.  I chose to use a landscape company for the job costing. Since landscaping needs would vary between customers it is unlikely that two jobs would cost the same amount. You could have a customer that only wants lawn mowing, lawn care, planting flower beds, or even maintaining the flower beds. Maybe one would even want to do elaborate landscaping, the company would need to know how to price each job. Project costing that could be a fixed cost would be equipment and storage or if there was a charge to do an estimate for a customer. Though some companies will waive the fee if the customer accepts the estimate. Labor, plants, trees, fertilizer, weed killer, mulch, rock, and timbers are variable costs since they depend on the needs of the customer. I would hope the company is big enough to need office personnel and not just the spouse. So the period costs would be sales salary expense, advertising, office rent, utilities, and office salary expense.I would use prior data to determine the monthly predetermined rates and use direct labor as the base labor to calculate the overhead costs for each job. Each month would reflect a different rate since landscaping is not steady but is more seasonal work. Live inventory such as flowers, plants, and trees would be purchased directly from a nursey whereas mulch, fertilizer, and such could be stored without needing daily care.Works Cited Wild, J.(2020). Fundamental Accounting Principals (25th) Edition. McGraw-Hill Higher Education (US).   Just answer these following questions in reference to the above post. Do you agree with the post above? responses concerning the direct, indirect, and period costs identified for their chosen business? Explain. Would you suggest the same or a different overhead allocation base for their chosen business? Elaborate on your response comparing and contrasting their allocation base suggestion versus your allocation base suggestion. Support your responses to classmates with additional research and/or examples of your understanding of cost classification concepts and Job Order Costing systems.  Be sure to post at least one reference in support of your explanations and conclusions.                                                            Accounting                                                Business                                                Managerial Accounting                            ACCT 281                                                                      Share QuestionEmailCopy link                              Comments (0)

Difference between APA 6TH edition and APA 7th edition
APA (American Psychological Association) is a citation and referencing style used in social sciences. The two most recent versions of APA style are the 6th and 7th editions, which have some significant differences.
APA 6th Edition:
The 6th edition of APA was published in 2009 and it provides guidelines for writing research papers and essays.
In-text citations in this edition were required to include the author’s last name, the year of publication and page number.
The reference list in APA 6th edition should be double-spaced and include the publication date for each source.
Example of an in-text citation in APA 6th edition: (Smith, 2009, p.5)

APA 7th Edition:
The 7th edition of APA was published in October 2019.
It includes updates to formatting, referencing, and language use. The major change in the 7th edition is the removal of the requirement for including the retrieval date for electronic sources.
Additionally, the 7th edition has a new format for citing online sources. Example of an in-text citation in APA 7th edition:
(Smith, 2009)
Overall, the 7th edition of APA provides a more streamlined and simplified approach to referencing, making it easier for students and researchers to follow.

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