1988 how cost accounting distorts product costs

... Variable Cost = Total Quantity of Output × Variable Cost Per Unit of Output In term of accounting, costs can be described as either fixed costs or variable costs Variable costs are inventoriable costs ... production and recorded in inventory accounts, such as cost of goods sold Fixed costs, on the other hand, are all costs that are not inventoriable costs Fixed costs include various indirect costs ... variable cost raise when production output increases and go down when the company slows production Variable costs may also be called unit-level costs Variable costs are in contrast to fixed costs, ...

Ngày tải lên: 13/03/2014, 14:20

... Case study How management accounting delivers long-term focus In the dealership which most successfully adapted to ... concerning the maintenance of customer relations showed the vast majority of the sales personnel contacted their customers, as defined in the protocol However, there were considerable differences ... usually to realise a change were executed However, the dealerships differed considerably in the success of the change These differences cannot be explained by the accounting information or the way in...

Ngày tải lên: 21/01/2014, 12:41

... định có giá trị (raw) material cost (n): Chi phí nguyên vật liệu (thô) direct labor cost (n): Chi phí nhân công trực tiếp 10 overhead (n): Chi phí gián tiếp 11 factory cost (n): Chi phí nhà xưởng...

Ngày tải lên: 25/01/2014, 14:20

... difference between cost of goods sold and cost of production Ans Cost of production means prime cost + works overhead + office overheard while cost of goods sold means cost of production + opening ... http://www.docudesk.com (2) Costing include determination of cost Cost accounting include recording expenditure and income (3) Costing means technique for determination of cost whereas cost accounting means ... supplementary cost? Ans Supplementary cost is the cost of product other than direct cost Q.6 What is opportunity cost? Ans The value of opportunity for gone is known as opportunity cost Q.7 Name...

Ngày tải lên: 18/02/2014, 01:20

... the ascertainment of cost, control of costs, ascertainment of profitability, etc Nature and Scope of Cost Accounting Cost accounting is a profession : In recent years cost accounting has become ... FINANCIAL ACCOUNTING AND COST ACCOUNTING Cost accounting is very closely-related to financial accounting Some authorities on the subject consider cost accounting to be the branch of financial accounting ... manufacturing a product It also helps in controlling these costs so as to minimise the cost or production In fact, the main objective of cost accounting system is to reduce the cost of production...

Ngày tải lên: 06/03/2014, 15:20

... in the measurement of costs, the assignment of costs to cost accounting periods, or the allocation of costs to cost objectives should be considered to be changes in cost accounting practice requiring ... 1996 8-405 Cost Accounting Standard 405 - Accounting for Unallowable Costs 8-405.1 General 8-405.2 Illustrations 8-406 Cost Accounting Standard 406 - Cost Accounting Period ... Restructuring Costs 8-407 Cost Accounting Standard 407 - Use of Standard Costs for Direct Material and Direct Labor 8-407.1 General 8-407.2 Illustrations 8-408 Cost Accounting...

Ngày tải lên: 06/03/2014, 21:20

... Health facilities Costs Accounting Hospitals Cost of operation Accounting Cost accounting I Ward, David M (David Marc), 1964- II Baker, Judith J III Title [DNLM: Costs and Cost Analysis Health ... PART I COST ACCOUNTING FOUNDATIONS CHAPTER Introduction to Cost Accounting The Purpose of Cost Accounting Costs for ... importance of understanding as much about costs as they possibly can A number of textbooks are available in the cost accounting field However, these generic cost accounting texts focus primarily on...

Ngày tải lên: 15/03/2014, 15:20

... total cost of climate change and its present value, thus uncertainty concerning the social cost of carbon derived from the total costs To test for sensitivity to the assumptions about the total costs, ... cycle costs significant obstacles lie in the way, including the costs of construction of suitable plants Ann N.Y Acad Sci 1219 (2011) 73–98 c 2011 New York Academy of Sciences Epstein et al Full cost ... increasingly unstable climate The true ecological and health costs of coal are thus far greater than the numbers suggest Accounting for the many external costs over the life cycle for coal-derived electricity...

Ngày tải lên: 23/03/2014, 00:20

... Unit costs and other types of cost information are indicators of performance Managerial cost systems will be needed to enable comparisons of actual costs with cost goals and to compare costs ... managerial cost accounting information established, it is important to define cost accounting, including its evolution over time Managerial Cost Accounting Definition In the CFO Council/JFMIP Cost Accounting ... What is Managerial Cost Accounting Managerial Cost Accounting Definition Managerial Cost Accounting Methods Use Case - Working Capital Fund Cost Management Implementation...

Ngày tải lên: 29/03/2014, 14:20

... Concept Definition Period costs Costs that can be more easily attributed to time intervals Indirect costs Fixed costs Costs that cannot be directly related to a cost object 11 Costs that not vary with ... differential costs plus a share of fixed costs, based on actual production volume (with Beta’s order) of 37,500 units Costs Direct materials (var.) Direct Labor (var.) Other variable costs Fixed costs ... 2–9 Unit costs are averages only at a given level of production, the relevant range Since some costs not change, i.e fixed costs, within certain production ranges, the average (fixed costs divided...

Ngày tải lên: 29/03/2014, 20:20

... under relevant costs (e.g marginal cost, additional fixed cost, incremental cost, opportunity cost) and irrelevant costs (e.g sunk cost, committed costs, etc.) (For detail refer Cost Accounting Methods ... Financial Accounting and Cost Accounting Management Accounting Financial, Cost and Management Accounting Cost Concept and Cost Object Cost Management Cost Classification Methods of Costing Techniques ... unit Direct costs are termed as product cost — Indirect costs are those which are incurred for a number of cost units and also include costs which though incurred for a particular cost unit are...

Ngày tải lên: 29/03/2014, 20:20

... organizational costs (costs not included elsewhere in specific programmes) to the programme based on the share of the programme’s financial costs as a share of all externally funded costs Step Include ... 26 were added to the expanded cost profile Table shows the same information reported as shares of total costs within each column of costs Table summarizes average costs per SLA member and per ... other office costs/ supplies 7100 bank charges Other NGO other office costs/ supplies 7300 communications Other NGO other office costs/ supplies 7301 office supplies Other NGO other office costs/ supplies...

Ngày tải lên: 20/06/2014, 08:20

... using one or two cost pools All or most indirect costs are identified as output unitlevel costs (few indirect costs as batch-level costs, product/ facility-sustaining costs) Products make diverse ... homogenous cost pools and classified as output unit level costs, batch level costs, product sustaining costs, or facility sustaining costs The cost pools correspond to activities Costs are allocated ... commonly uses a cost hierarchies with levels: Output unit-level cost Batch level costs Product sustaining costs Facility sustaining costs     Output unit-level cost: the costs of activities...

Ngày tải lên: 26/06/2014, 00:03

... management.2 Not all cost information is How financial and management accounting relate to each other? How does cost accounting relate to financial and management accounting? cost accounting This ... daily functions Cost accounting creates an overlap between financial accounting and management accounting Cost accounting integrates with financial accounting by providing product costing information ... understand how cost accounting provides costs for financial statements and supports management information needs Organizations that not manufacture products may not require elaborate cost accounting...

Ngày tải lên: 28/06/2014, 09:20

... management.2 Not all cost information is How financial and management accounting relate to each other? How does cost accounting relate to financial and management accounting? cost accounting This ... daily functions Cost accounting creates an overlap between financial accounting and management accounting Cost accounting integrates with financial accounting by providing product costing information ... understand how cost accounting provides costs for financial statements and supports management information needs Organizations that not manufacture products may not require elaborate cost accounting...

Ngày tải lên: 02/07/2014, 22:21

... incurred However, because these costs are essential to any resulting product, a cost management system would trace them to that product as part of life-cycle costing is monitored, the cost driver ... serves multiple purposes: to develop product costs, assess product/ service profitability, improve understanding of how processes affect costs, facilitate cost control, measure performance, and ... activity costs and management reporting objectives Costs should be consistent with the requirement to support life-cycle management Technology costs should be assigned directly to products Actual product...

Ngày tải lên: 02/07/2014, 22:21

... types of costs are included in period costs for retailers, manufacturers, and service companies? 11 Are all product costs unexpired costs and all period costs expired costs? Explain 12 How is the ... in product costs that most closely reflect actual costs and, thus, an immaterial amount of underapplied or overapplied overhead.14 ACCUMULATION OF PRODUCT COSTS ACTUAL COST SYSTEM Product costs ... 114 Part Systems and Methods of Product Costing QUESTIONS Distinguish among the cost accounting uses of historical costs, replacement costs, and budgeted costs How does a company determine its...

Ngày tải lên: 02/07/2014, 22:21

... EXHIBIT 4–4 Levels of Costs Classification Levels Unit-Level Costs Batch-Level Costs Product/ ProcessLevel Costs Organizational or Facility Costs Types of Costs Necessity of Cost I Direct material ... related product line Cost per unit in product line ‫؍‬ Total product cost per unit Total Product Cost per Unit ؋ Product Unit Volume ‫ ؍‬Total product cost (2) ؊ ‫؍‬ ؎ ‫؍‬ ؊ ‫؍‬ Total product ... Analysis ACTIVITY-BASED COSTING Recognizing that several levels of costs exist, accumulating costs into related cost pools, and using multiple cost drivers to assign costs to products and services...

Ngày tải lên: 02/07/2014, 22:21

... product costing system defines the cost object and the method of assigning costs to production The valuation method specifies how product costs will be measured Companies must have both a cost system ... labor costs may cause the costs of similar units to fluctuate from period to period or job to job because of changes in component costs Use of How are standard costs used in a job order costing ... http://www.seagate.com http://www.compaq.com Product costing is concerned with (1) cost identification, (2) cost measurement, and (3) product cost assignment In a job order costing system, costs are accumulated individually...

Ngày tải lên: 02/07/2014, 22:21

... Input Costs Assigned to Products Input Costs Assigned to Products PRODUCT A Tapers Transferred In PRODUCT A PRODUCT B Candles in Jars Transferred In PRODUCT B PRODUCT C Votives Transferred In PRODUCT ... to separate product cost from period cost Second, direct product costs are allocated to the individual products, whereas indirect costs are allocated to cost centers Third, indirect costs are attributed ... 8,640 $2.50 COST DATA Total BWIP costs Current period costs Total costs Divided by EUP Cost per EUP $ 2,301 225,641 $227,942 $26.10 COST ASSIGNMENT Transferred out Beginning inventory cost Cost to...

Ngày tải lên: 02/07/2014, 22:21