Inventory Costing Methods Cheat Sheet (DRAFT) by Mely

Actual direct Costs are assigned to jobs as incurred	Category	Normal Costing
MOH is applied using POR	DM	Actual Qty x Actual Cost
	DL	Actual Qty x Actual Cost
	MOH	Actual Qty Cost Driver x POR

Actual direct costs are assigned to jobs as incurred	Category	Actual Costing
Actual MOH assigned when actual amounts are known	DM	Actual Qty x Actual Cost
	DL	Actual Qty x Actual Cost
	MOH	Actual OH Cost

Standard direct costs are assigned to jobs as incurred	Category	Standard Costing
MOH assigned using standard POR	DM	Quantity x Price
	DL	Quantity x Price
	MOH	Standard DL Hours x POR