Chapter 6: Chapter 6: Job CostJob Cost

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Job CostJob CostChapter 6 shows you how to use the Job Cost Chapter 6 shows you how to use the Job Cost System. Sage 50 lets you assign Job ID codes System. Sage 50 lets you assign Job ID codes to purchases, sales, and employee hours. This to purchases, sales, and employee hours. This way, you can track how each of these factors way, you can track how each of these factors impacts costs for a specific job.impacts costs for a specific job.

Purchases Sales

Hours Worked

JOBS

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Sage 50 TipSage 50 Tip

Jobs can be assigned to purchases of inventory, Jobs can be assigned to purchases of inventory, sales to customers, and payroll.sales to customers, and payroll.

The diagram below shows how Sage 50 The diagram below shows how Sage 50 organizes job costing. organizes job costing.

1)1) Setup 2) Tasks 3) ReportingSetup 2) Tasks 3) Reporting

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Backing Up Chapter 6Backing Up Chapter 6

Backup Name Backup Name

Excel Report Excel Report

KBKB Page Nos.Page Nos.

Chapter 6.ptbChapter 6.ptb 3,631 KB3,631 KB 200200

Exercise 6-2.ptbExercise 6-2.ptb 3,644 KB3,644 KB 202202

Exercise 6-2_Job Profitability Exercise 6-2_Job Profitability Report.xlsxReport.xlsx

16 KB16 KB 202202

Exercise 6-2_Job Profitability Exercise 6-2_Job Profitability Report.pdfReport.pdf

67 KB67 KB 202202

In Chapter 6, you make two backups, save one Excel file, and save one PDF file. The Exercise 6-2.ptb backup file is used for work in Part 4, Chapters 16-18. Do not delete the Exercise 6-2.ptb file.

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Job Costing and PurchasingJob Costing and Purchasing When purchasing inventory items for jobs, the Purchases/Receive Inventory

window is used.

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Job Costing and SalesJob Costing and Sales The Sales/Invoicing window is used to record inventory sold and to select the

appropriate job.

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Chapter 6:Chapter 6: Glossary of Terms Glossary of Terms

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Job CostingJob CostingSage 50’s job costing feature allows you to track the costs incurred while Sage 50’s job costing feature allows you to track the costs incurred while performing a job. To use job costing, identify the project for which you want performing a job. To use job costing, identify the project for which you want to track expenses and income and then determine how much detail is to track expenses and income and then determine how much detail is needed. needed.

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Online Learning CenterOnline Learning Center Go online to Go online to www.mhhe.com/yacht2015 for additional for additional

resources. Link to resources. Link to Student EditionStudent Edition, select Chapter 6., select Chapter 6.

o Interactive TestingInteractive Testing Appendix C: Review of Acctg.Appendix C: Review of Acctg.o Glossary of TermsGlossary of Terms Appendix D: Glossary of Terms Appendix D: Glossary of Terms o Feature QuizzesFeature Quizzeso Narrated PowerPointsNarrated PowerPointso Assessment RubricsAssessment Rubricso Going to the NetGoing to the Neto QA Templates QA Templates

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Going to the NetGoing to the NetAccess the Sage website at Access the Sage website at http://na.sage.com/us/sage-50-accounting. Answer these . Answer these questions.questions.

1.1.What Sage 50 products are shown?What Sage 50 products are shown?2.2.Briefly describe the features of Pro, Premium, and Quantum.Briefly describe the features of Pro, Premium, and Quantum.3.3.What does Sage 50 Quantum Accounting include that Pro and What does Sage 50 Quantum Accounting include that Pro and Premium does not?Premium does not?

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Analysis QuestionAnalysis Question

Explain the interrelationships of jobs, Explain the interrelationships of jobs, purchases, sales and payroll.purchases, sales and payroll.

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Assessment RubricAssessment Rubric

Date TransactionNavigation

Center/ModuleTask

WindowJournalDr./Cr.

3/26 Sold two Bell-Grow Impulse Sprinklers (EQWT-15160) to Franklin Botanical Gardens, $64.18 (includes sales tax); terms 2% 10, Net 30 days; Job ID Franklin Botanical Gardens.

3/26 Invoice No. AD967 was received from Adler's Landscaping for the purchase of special wood treatment, $85; terms 2% 10, Net 30 Days. Apply this purchase to the Franklin Botanical Gardens jobs.

3/29 Amanda W. Chester worked one hour on the Franklin Botanical Gardens job. Apply her paycheck to this job.

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