This project is an integrative case that provides hands-on exposure to a job costing system for a mid-sized manufacturing company and includes six active-learning assignments. Students will:
- prepare and trace source documents
- record transactions in job cost records
- reconcile inventory and overhead control accounts
- prepare financial statements
Students can journalize and post transactions to an accounting information system and/or build on this information to address “what if” managerial questions about variable costing, alternative overhead drivers, budgeting for operations, variances, capital expenditures, and internal controls. Students will “learn by doing.” A convenient envelope holds two components of the project:
- Booklet—with background material, assignments with questions and problems, core concept reviews, journal and ledger pages, and financial statement templates
- Documents folder—with divider tabs for filing the source documents into the following categories: accounting, job cost sheets, to/from outsiders, and financial statements