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Posted: March 4th, 2021
This week, you were asked to access a number of videos and websites. These are great resources to help you learn the materials this week. Consider what type of resource you find most helpful in learning new materials (videos, examples, text, etc). Then consider which topic you struggled with the most this week. Complete an online search for a new resource that will help you with that topic. For example, if you learn best from videos and you struggled with the topic double entry accounting, then complete an online search for “double entry accounting videos”. If you learn best by examples, search for “double entry accounting examples”. Select one of the items you find in your search that you found particularly helpful in learning the topic you struggled with the most and post a summary of the resource and a link to the resource.
INITIAL POST
Cite and summarize the resource.
FOLLOW UP POSTS
As you review what your peers have posted, use your critical thinking skills to respond to their interpretations and conclusions. Seek clarification for points of interest to you.
Katy Norton
This weeks assignment was also challenging for me. The hardest to decipher part was figuring out the under applying or over applying of overhead. I was able to understand how to compute the other pieces but, this area was tough for me to formulate. I struggle with financial understanding as it is, and have to spend twice as much time on the work as I do other subjects! In our discussion posts referring to finding other sources though, it has encouraged me to not be afraid to fine other sites and sources to help my understanding. This week, I reached out to accountingformanagment.org as an alternate site for examples. I find that I do better with examples that are straightforward. I liked the examples from this site as, under the job-costing systems explanations . It also provided the alternate examples to our textbook. This is essential for me because I often do not understand the one single example so, seeing more helps me personally. One example I thought was helpful was the table that was formulated to demonstrate clearly where the debit or credit would go for finished goods, cost of goods sold, manufacturing overhead, manufacturing overhead and so on with an “X” indicated for the debit or credit for the service rendered.
Reference
Accounting for Management. 2019: 2024 - Online Assignment Homework Writing Help Service By Expert Research Writers. retrieved from www.accountingformanagement/over-or-under-applied-manufactoring-overhead/.
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Tandrea Wilson
This week I found that the predetermined overhead rate gave me some challenges in understanding the material fully. Especially when it comes to the calculations. I did understand that overhead was the compilation of many various costs that did not fall into the category of direct labor or direct materials costs. However, when it came to predetermining something that could vary anyways I was a bit lost as to why this was important. I found a video on YouTube that helped explain the why and worked through some calculations. The video explained why we need to have predetermined overhead rates instead of waiting to the end of a period to give a quote to a customer. The example used was a quote for a piece of furniture and it helped me understand the relevance of this topic. Again, listening to the explanation while being shown step by step helps me fully grasps this information. Hopefully this could help anyone else who had a bit a difficulties as well.
Reference
Edspira. (2014: 2024 - Essay Writing Service | Write My Essay For Me Without Delay, September 5). Predetermined overhead rate (what it is and how to calculate it) [Video file]. Retrieved from https://youtu.be/qrnTwV2zbPM
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