Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-10-06


the end of the -lonth.
g. Accounts and Notes Receiv-
able.-Listed on this sheet at the end
of each month are the names aud
amounts of all open accounts of
$1,000 or more owed to the business,
ialso a complete list of all notes re-
tceivable.
Z. Job Department Cost Sum
lmary.-This is the keystone of the
arch of the Cost Finding System. 1t
assemblies and distributes to the va
rious operating Departments all the
Fixed, Current, General. Selling and
Stock Handling Expenses of the job
department for the Month. The op
lerating Job Departments in the Ken
lnebec Journal plant are as follows:
Hand Composition, Intertyne.
,Monotype Keyboard, Monotype Cast
Ter. Small Job Presses, Large Job
Presses, Automatic Presses, Small
lCylinder Presses, Medium Cylinder
Presses. Large Cylinder Presses. Cut
tiers, Bindery D.
This Cost Sheet, in addition to
Iother statistical information, shows
flor each of these Departments the
lchargeable hours, the total cost per
lhour, the Factory and General Com
tmercial Cost per hour, the Possible
Hours, Per Cent Productive, and
lWage Cost per Hour, these figures
Ibeing given not only for the month,
lbut also averaged for the latest l.
months.
s. News Department Cost Summary:
This is similar in scope and pur-
pose to the corresponding sheet for
the Job Department, the operating
News Departments being:
Hand composition. Intertype, Mon
otype caster, Monotype keyboard.
Stereotype, News press.
8. Summary of Advertising and
News Cost:-This sheet relates Who'll
~ to the newspaper end of the bust
ness. 1t assemblies all the expenses
chargeable directly to either Adver-
Using or News, and prorates all other
expenses between the two on the bas-
is of inches. 1t gives the total cost of
advertising and News, respectively,
for the month, the cost per inch of
each, an ditch average cost per inch
for the latest IL months.
U.
the Gain or Loss for the Month, in
each operating Department, both Job
and News, the several captions being
as follows:
Opening inventory, Monthly cost,
Less closing inventory, Reserve for
overhead, Net monthly cost, Sales,
Gain or loss.
| II. Production ds:-Produc-
ton records are most desirable and
the binder contains an index tab for
same, though we have not as yet
worked out this feature in our plant
-. Miscellaneous:-We carry a
supply of blank sheets, ruled with
cross lines and punched, from which
any special forms desired can at any
time be ruled by hand and inserted
in the binder.
3. HOW ARE THESE ACCOUNT
! ING RESULTS PRODUCED?
The Standard Accounting System
for Printers intcrloclls the general
books of account with a cost finding
system. Bear in mind the fact that
a cost finding system is in its nature
supplementary to the general ac-
dependent upon it only 50 far as
certain Of it's data must be obtained
from sundry expense accounts car
ried on tho general books.
Although the cost finding system
of the Typothetae has been in oper-
alton for about 8 years, it was not
until 1920 that an entirely practical
and competontly executed system
was offered to the craft for inter
locking it with the general books of
account. The shortest cut to an I'M
Outstanding of the essentials of this
interlocking system is TO consider
separately.
First: The General Accounting
System.
Second: The Cost Finding System.
Third: The method of interlcck-
ing the two.
Il. The General Accounting System
The General Accounting System,
as exemplified in the Standard Ac-
cotinting Course, is merely an APP
plcation of sound and fundamental
principles of accounting to the special
requirements of the printing indus
try. 1t is. Of course. a dou'l 10 entry
system which, in this day and gen
Grafton, is the only method of record
ing correctly and adequately the
business facts of any Industrial en-
tcrprisc.
For the purposes of this paper j. is
sufficient to say that in a double en- j
try system every business transaction |
| cives rise to a debit or debts exact !
ly equal in amount to credit or |
credits. In other words, in recording |
any business transaction we must !
debit some account or accounts and |
| credit some account or accounts. the |
! total debts being equal to the total !
| credits. This record is made on the |
book of original entry. from which |
it is posted to the Ledger, or book Of |
! final entry Inasmuch as every de-
| bit item on the book of original entry |
is posted to the. del side of the |
proper account in the Ledger, and /
every credit item is posted to the |
| credit side. it follows that if the !
posting has been done correctly the !
! sum of all the debit entries in the
| Ledger must exactly equal the sum !
! of all the credit entries. To prove !
this equality. and ensure the math-
! ematical accuracy of the books. a !
monthly trial balance Of the Ledger |
! is taken. For this purpose the ba-
! lance only of each Ledger account, |