Please keep dong what you are doing here! The best channel for both financial and managerial accounting. Super easy to follow and learn from. Seriously, thank you Tony
Mr Bell thank you so very much it's an honor and a privilege to learn from u. Sincerely from my heart ur one of the best teachers I have learned from u make it easy and complex which I love very accurate. Good day and take Care
to calculate cost of the job, if there is a line stating $$$ direct labor cost and by the end of the year there is a number of direct labor hours @ $$ per hour, do you add both? the direct labor and the total of hours worked @ $$ per hour to get your total for labor?
So each question will be different, but if DL Cost is given, then that's it - just use that number. Often we need to calculate it. We'll be given a rate (say $20/hour) and we'll be given a number of hours. (Say 500 DL Hours). Then just calculate - DL Cost = 500*20 = $10,000
what if there is a direct labor amount as well as direct labor hours, do you add the direct labor amount and the total of direct labor hours to add to direct material to get the rate ?
So to figure out the overhead rate, somewhere in the question it will say "Overhead is based on Direct Labour hours" OR "Overhead is based on Direct Labour Cost" OR "Overhead is based on Machine Hours" Or something else. So in your question, if it says overhead is based on Direct Labour Hours - use the hours. If it says overhead is based on Direct Labour Cost - use the dollar amount. Don't use both! You need to pick the right one based on what the question tells you...
Expenses are not related to product you are making. Assume you are making car. If you are adding glue, this glue is MOH Security guy salary is an expense
Please keep dong what you are doing here! The best channel for both financial and managerial accounting. Super easy to follow and learn from. Seriously, thank you Tony
I'm in Intermediate Managerial this semester and this video is excellent review!
I could never pay you for the amazing help! Thank you so very much!
Mr Bell thank you so very much it's an honor and a privilege to learn from u. Sincerely from my heart ur one of the best teachers I have learned from u make it easy and complex which I love very accurate. Good day and take Care
i miss financial accounting. so much easier
Actually. Kinda same with me, too
Thanks Tony👌🔥 Watching all the way from South Africa 🇿🇦
This is the simplest video on this topic I found❤
Thank you!! You helped me on my assignment!!
Great explanation✊
Thank you for thiiiis, I love how easy you make it look !!
Thank you sir, you helped me a lot,I'm looking forward to watch more of such videos from you.
Perfect explanation. Thank you so much!
Thank-you so much for this explanation! It truly helped me.
What if in calculating for the cost of the job, the utilities and other overhead expenses incurred for that month are given?
You’re amazing 😂❤
why would you compute the labour off the 20 dollars instead of the estimated overhead?
Man, I love you
Thank you so much!
Thank you! I do have a question - after coming up with the 12,300 number, do you then add profit to that?
to calculate cost of the job, if there is a line stating $$$ direct labor cost and by the end of the year there is a number of direct labor hours @ $$ per hour, do you add both? the direct labor and the total of hours worked @ $$ per hour to get your total for labor?
So each question will be different, but if DL Cost is given, then that's it - just use that number. Often we need to calculate it. We'll be given a rate (say $20/hour) and we'll be given a number of hours. (Say 500 DL Hours). Then just calculate - DL Cost = 500*20 = $10,000
what if there is a direct labor amount as well as direct labor hours, do you add the direct labor amount and the total of direct labor hours to add to direct material to get the rate ?
So to figure out the overhead rate, somewhere in the question it will say "Overhead is based on Direct Labour hours" OR "Overhead is based on Direct Labour Cost" OR "Overhead is based on Machine Hours" Or something else. So in your question, if it says overhead is based on Direct Labour Hours - use the hours. If it says overhead is based on Direct Labour Cost - use the dollar amount. Don't use both! You need to pick the right one based on what the question tells you...
Thank you
What is the difference between expenses and MOH
Expenses are not related to product you are making. Assume you are making car.
If you are adding glue, this glue is MOH
Security guy salary is an expense
This makes me feel some type of way…gimme the whole song now.