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ashly138 ashly138
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7 years ago
In a job-costing system, explain why it is necessary to apply indirect costs to production through the use of a budgeted indirect-cost rate.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
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7 years ago
First, actual manufacturing overhead costs are not known until the end of year. To price and invoice jobs in a timely manner, annual manufacturing overhead costs need to be estimated and allocated to specific jobs during the accounting period. Secondly, manufacturing overhead costs are usually not incurred evenly throughout the year. The use of a manufacturing overhead cost allocation rate evenly distributes manufacturing overhead costs over the entire year.
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