Standard cost finding practice for steel foundries

Bibliographic data

Monograph

Identifikator:: 176071013X

URN:: urn:nbn:de:zbw-retromon-140159

Document type:: Monograph

Title:: Standard cost finding practice for steel foundries

Place of publication:: [Pittsburgh]

Publisher:: Steel Founders' Society of America

Year of publication:: 1927

Scope:: 26 Seiten

Digitisation:: 2021

Collection:: Economics Books

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Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Classification of accounts

Collection:: Economics Books

Loss on Defective Castings after Shipment: (See Note 5 below) Difference between the sales value and the scrap value of castings shipped to customers and re- jected, plus the freight, etc. Charges for work done by customers to make the castings meet their requirements. Cost of labor at foundry in making castings rejected and returned by customers suitable for acceptance by such customers. Depreciation: (See Note 6 below) For depreciation of entire plant and its equipment. Clerks’ Salaries: Includes salaries of all clerks and stenographers, except department clerks in the metal, mold- ing, core, and cleaning departments. Accounting Department: Salaries, wages, material, supplies, and other charges used in operating the accounting depart: ment, Management Salaries: Works manager, assistant works manager, general superintendent, etc. “ngineering Department: Salaries, wages, material, supplies, and other charges used in operating the engineering depart- ment, Purchasing Department: Salaries, wages, supplies, etc., used in oy erating the purchasing department. Miscellaneous Operating Expense: Labor :—Wages of employes engaged in work of a general nature and not otherwise specified, such as watchmen, janitors, police, experimental, and development. Material :—Material and supplies of a general nature and not otherwise specified, such as tele- phone, telegraph, stationery, ice. lauadry, traveling expense of operating men, etc. [nventory Adjustment: Reserve fund for inventory adjustment to be created by charging to costs monthly an amount based upon a predetermined rate per net ton of good castings produced. Administrative Expense: Salaries and expenses of executives Head office rental Legal expense Subscriptions Dues Directors’ fees Expense: Salaries and commissions of salesmen Traveling expense of salesmen Clerks, stenographers, and others in sales department Advertising Note 5. Preferably a reserve fund for loss on defective castings after shipment should be created by charging to costs monthly an amount based upon a predetermined rate per net ton of good castings, or an imount based upon a predetermined percentage of total sales to customers. Note 6. Depreciation should be provided for regularly each month upon some definite and suitable sasis. and charged to monthly costs. Note 7. A reserve fund for doubtful accounts or bad debts should be created by charging to costs monthly an amount based upon a predetermined percentage of total sales, or an amount based upon a prede- termined rate per net ton of good castings.

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