In Class Assignment Instructions: Job Order Costing in Manufacturing
Industries
Objective:
In this assignment, students will explore how job order costing is applied in real-
world manufacturing industries. This will help you understand the role of cost
accounting in financial reporting.
Instructions:
1. Group Formation:
You will be divided into groups, and each group will select any
manufacturing company that is likely to use job order costing (e.g.,
automotive, furniture, or aerospace manufacturing).
2. Company Research:
Each group must locate the most recent 10-K report for one the company
selected. You can find the 10-K report either on the company’s website or
through the SEC’s EDGAR database (www.sec.gov).
3. Financial Statement Analysis:
Review the company's balance sheet and income statement. As a group,
identify which line items on these statements were likely calculated by the
company’s cost accountants. Focus on those related to job order costing,
including inventory and cost of goods sold.
4. Cost Classification:
Report the dollar amount for each of the following costs reported in the
company’s 10-K.
o Raw Materials inventory
o Work in Process inventory
o Finished Goods inventory