Texas A&M University General Motors Costing Systems Discussion

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enwxa

Business Finance

Texas AM University

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During week four you studied process costing and saw how this cost accounting system varied from job order costing that you learned about in week three. For your week four discussion board post I would like you do identify a publicly traded manufacturing company. BY publicly traded it means they have stock traded on an exchange such as the New York Stock Exchange. I would then like you to research a product they manufacture. Based on what you have found would they use process costing or job order costing. Why did you select the method they did. Please be sure to integrate terms and concepts you learned about in week three and four as you describe the cost accounting system they might use.

Attached the week 3 Assignment that i submitted earlier


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Running head: OFFSET PRESS COMPANY 1 Offset Press Company Name Institutional Affiliation OFFSET PRESS COMPANY 2 Offset Press Company Question One Action One I believe that this particular course of action is not appropriate and the main reason for this is because I believe Jackson should not take this action simply because the under applying of factory overhead and the overstating of the expenses could provide a short term benefit and but in the long run things could start going bad for the company which means that the right action to resolve the problem should be taken immediately in order to minimize the chances of the problems from arising in the future. Action Two Yes, I believe that the second action is appropriate since convincing Brown to make the proper adjustments and advising the external auditors about the actions will help prevent future problems because such kind of problems normally leads to further issues in the future if not resolved on time (Argade, 2020). Action Three Yes, the third act could also be beneficial simply because it will help create awareness about the problem and thus further actions will be taken to help resolve the issue (Argade, 2020). The appropriate accounting data will also help to find where the problem could have aroused and thus helping to find the most effective solution for the problem. Question Two I believe that the most suitable step to take in this particular case is to now approach the board of directors of this particular company and tell them about the issue and also convince them on the importance of resolving the issue as soon as possible simply by telling them the OFFSET PRESS COMPANY 3 various problems that could arise because of the issue (Gite, 2020). He should then work together with the external auditors in order to discover where the problem arises and with the above steps I believe it will be much easier to find and resolve the problem which means that future problems will have been minimized from arising in this particular company. OFFSET PRESS COMPANY 4 References Argade, S. L. (2020). Under and Over-absorption of Overheads. Gite, U. (2020). Overheads.
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Explanation & Answer

Attached.

Running head: COSTING METHODS

1

General Motors Costing Systems
Name
Institution
Date

COSTING METHODS

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General Motors Costing Systems
Manufacturing cost accounting determines the cost of direct and indirect labor and
overheads. The process helps to understand the cost involved in making manufactured products.
In the manufacturing firms, a system of cost accounting consists of cost accounts incorporated in
a firm's general ledger (Garrison et al., 2010). The process and job order costing are the main
systems of cost accounting. Product cost is assigned to a process or a departme...


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