Product costs based on the activity-based costing system
|
|
- Claude Chester Holmes
- 7 years ago
- Views:
Transcription
1 5-52 Volume-based Costing Versus ABC 1. (1) Target price $ $ $ (2) Manufacturing cost (1) 150% $ $ $ Prime cost Overhead cost per unit $ $ $ Number of units x 1,000 x 5,000 x 500 Total overhead $116,000 $348,000 $29, Current Costing system Actual selling price $280 $250 $300 Product manufacturing cost Gross margin $ 94 $ 54 $167 Gross margin ratio 33.57% 21.6% 55.67% Based on the current cost data, it is true that product B is the least profitable product with a gross margin per unit of $54.00 (21.6%) and product C is the most profitable product with a gross margin per unit of $ (55.67%). However, the validity of this conclusion is based on the accuracy of the reported product costs. Product costs based on the activity-based costing system Direct materials $ $ $ Direct labor Factory overhead: Setups (a) Materials handling (b) Hazardous control (c) Quality control (d) Utilities (e) Total $ $ $ Actual selling price $ $ $ Product manufacturing cost Gross margin $ $ ($64.30) Gross margin ratio 25.50% 32.66% (21.43)% 1
2 5-52 (continued) Notes: (a) Setups: Cost per setup: $8,000 / ( ) = $800 per setup Product A = 2 x $800 = $1,600; $1,600 /1,000 = $1.60 per unit Product B = 5 x $800 = $4,000; $4,000 /5,000 = $0.80 per unit Product C = 3 x $800 = $2,400; $2,400 /500 = $4.80 per unit (b) Materials handling: Cost per pound = $100,000 / ( ) = $100 per pound Product A = 400 x $100 = $40,000; $40,000/1,000 = $40.00 per unit Product B = 250 x $100 = $25,000; $25,000/5,000 = $ 5.00 per unit Product C = 350 x $100 = $35,000; $35,000/500 = $70.00 per unit (c) Waste and hazardous disposals: Cost per disposal: $250,000/( ) = $2,500 per disposal Product A = 25 x $2,500 = $ 62,500; $ 62,500/1,000 = $ 62.50/unit Product B = 45 x $2,500 = $112,500; $112,500/5,000 = $ 22.50/unit Product C = 30 x $2,500 = $ 75,000; $ 75,000/500 = $150.00/unit (d) Quality inspections: Cost per inspection = $75,000/( ) = $750 per inspection Product A = 30 x $750 = $22,500; $22,500/1,000 = $22.50 per unit Product B = 35 x $750 = $26,250; $26,250/5,000 = $ 5.25 per unit Product C = 35 x $750 = $26,250; $26,250/500 = $52.50 per unit (e) Utilities: Cost per MH = $60,000 / (2, , ,000) = $6.00 per MH Product A = 2,000 x $6 = $12,000; $12,000/1,000 = $12.00 per unit Product B = 7,000 x $6 = $42,000; $42,000/5,000 = $ 8.40 per unit Product C = 1,000 x $6 = $ 6,000; $ 6,000/500 = $12.00 per unit 2
3 5-52 (continued-2) 3. Comparison of reported product costs, new target price, actual selling price, and gross margin (loss): Product costs: 1. Direct-labor based system $ $ $ Activity-based system $ $ $ ABC-based product costs: Target price (150%) $ $ $ Actual selling price $ $ $ Difference in price <$32.90> <$2.53> <$246.45> Direct-labor based costing system Gross margin $ 94 $ 54 $167 Gross margin ratio 33.57% 21.6% 55.67% Activity-based costing system: Gross margin $71.40 $81.65 $(64.30) Gross margin ratio 25.50% 32.66% <21.43%> 4. Strategic and Competitive Analysis 1. Emphasizing Product C as suggested by the current directlabor-cost based overhead costing system is likely to harm the firm s competitiveness. The activity-based costing system shows that the manufacturing cost of Product C is $ per unit and, at the current selling price, the firm suffers a $64.30 loss for each unit it manufactures and sells. 2. If the actual selling prices of products A & B are fair market prices for these products and a markup of 150% is a common industry practice, the firm needs to examine the manufacturing cost of product A. The fact that the firm s target price, determined using 150% of the manufacturing cost, is more than 10 percent over the fair market price of the product suggests possible wastes and inefficiencies in the manufacturing of product A. 3
4 5-54 Volume-Based Costing Versus ABC 1. Current costing system (direct-labor hour) Deluxe % Speedy % Price $ $ Prime Cost Overhead Unit gross profit $ $ Multiple drivers costing system Calculation of unit overhead costs - Deluxe: Deluxe Setups $2,800 x 200 = $ 560,000 Machine costs $100 x 100,000 = 10,000,000 Engineering $40 x 45,000 = 1,800,000 Packing $20 x 50,000 = 1,000,000 Total overhead $13,360,000 Number of Units 50,000 Overhead per unit $ Calculation of unit overhead costs - Speedy: Speedy Setups $2,800 x 100 = $ 280,000 Machine costs $100 x 400,000 = 40,000,000 Engineering $40 x 120,000 = 4,800,000 Packing $20 x 200,000 = 4,000,000 Total overhead $49,080,000 Number of Units 400,000 Overhead per unit $ Deluxe % Speedy % Price $ $ Cost Prime cost $ $ Overhead Unit gross profit $ $
5 5-54 (continued) 3. Using the activity-based costing, a much different picture on profitability of the Deluxe and Speedy models emerges. The Speedy model is actually more profitable than the Deluxe model. The revised cost data suggests that shifting the emphasis to the Deluxe model may very well be a mistake. The Deluxe printer is a much heavier user of overhead resources as can be seen in the table below that compares uses of overhead. Overhead Activity Consumption Activity Deluxe Speedy Setups 250 units per setup 4,000 units per setup Machine costs 2 MH per unit 1 MH per unit Engineering 0.9 Engr. Hr. per unit 0.3 Engr. Hr. per unit Packing 1 unit per packing order 2 units per packing order Supporting calculations Activity Consumption Deluxe Speedy Total Per Activity Measure Total Per Activity Measure Units 50, ,000 Setups units per setup 100 4,000 units per setup Machine costs 100,000 2 MH per unit 400,000 1 MH per unit Engineering 45, Engineering Hours per unit 120, Engineering hours per unit Packing 50,000 1 unit per packing 200,000 2 units per packing order order 4. The ABC method is likely to provide Gorden Company a more accurate product cost picture. It also directs the management s attention to the high volume, more profitable Speedy printers. Given the low profit margin of the Deluxe, the firm may want to investigate the feasibility of raising the price, the possibility of reducing product cost, or both. 5
Learning Objectives. PRODUCT COSTING SYSTEMS Traditional Product Costing Systems Activity-Based Costing Systems
PRODUCT COSTING SYSTEMS Traditional Product Costing Systems Activity-Based Costing Systems Learning Objectives Learn the mechanics of product costing systems Understand cost distortions in traditional
More information- 1 - Cost Drivers. Product Diversity - Difference in product size, product complexity, size of batches and set-up times cause product diversity.
- 1 - Traditional Cost Accounting It arbitrarily allocates overheads to the cost objects. Total Company s overhead is allocated based on volume based measure e.g. labour hours, machine hours. Here the
More informationIntroduction To Cost Accounting
Page 1 Introduction To Cost Accounting 15.501/516 Accounting Spring 2004 Professor S. Roychowdhury Sloan School of Management Massachusetts Institute of Technology April 28, 2004 6 Outline Overview of
More informationChapter 6 Cost Allocation and Activity-Based Costing
Chapter 6 Cost Allocation and Activity-Based Costing QUESTIONS 1. Indirect costs are allocated to (1) provide information for decision making, (2) reduce frivolous use of common resources, (3) encourage
More informationJOB ORDER COST 10 SYSTEMS AND OVERHEAD ALLOCATIONS
10-1 10-2 Chapter JOB ORDER COST 10 SYSTEMS AND OVERHEAD ALLOCATIONS To explain the purposes of cost accounting systems. LO1 10-3 10-4 Cost Accounting Systems Cost Accounting Systems Determining unit manufacturing
More informationCost Allocation. Spring 2004
Cost Allocation 15.501/516 Accounting Spring 2004 Professor S. Roychowdhury Sloan School of Management Massachusetts Institute of Technology May 3, 2004 1 Traditional Costing System Direct Costs Direct
More informationHow To Calculate Overhead Absorption Rate For A Business
MANAGEMENT ACCOUNTING 2 nd Year Examination August 2014 Exam Paper, Solutions & Examiner s Comments 1 NOTES TO USERS ABOUT THESE SOLUTIONS The solutions in this document are published by Accounting Technicians
More informationExercises. Differential Analysis Sell (Alt. 1) or Lease (Alt. 2)
Chapter 24 and Product Pricing Study Guide Solutions Fill-in-the-Blank Equations 1. Differential revenue 2. Differential costs 3. Differential income (Loss) 4. Markup per unit 5. Estimated units produced
More informationAccounting 2910, Summer 2002 Practice Exam 4. 1. The cost of materials entering directly into the manufacturing process is classified as:
Accounting 2910, Summer 2002 Practice Exam 4 1. The cost of materials entering directly into the manufacturing process is classified as: a. direct labor cost b. factory overhead cost c. burden cost d.
More informationAccounting Building Business Skills. Learning Objectives: Learning Objectives: Paul D. Kimmel. Chapter Thirteen: Cost Accounting Systems
Accounting Building Business Skills Paul D. Kimmel Chapter Thirteen: Cost Accounting Systems PowerPoint presentation by Kate Wynn-Williams University of Otago, Dunedin 2003 John Wiley & Sons Australia,
More informationStandard Costs Overview
Overview 1. What are standard Costs. 2. Why do we set standard costs? 3. How do we set the standards? 4. Calculating Variances: DM and DL - Disaggregating variances into price and volume. - Difference
More informationMaster Budget and Responsibility Accounting. Chapter 6
Master Budget and Responsibility Accounting Chapter 6 Learning Objectives Understand what a master budget is and explain its benefits Describe the advantages of budgets Prepare the operating budget and
More informationQuiz Chapter 7 - Solution
Quiz Chapter 7 - Solution 1. In an income statement prepared as an internal report using the variable costing method, variable selling and administrative expenses would: A) not be used. B) be treated the
More informationCHAPTER 10 In-Class QUIZ
CHAPTER 10 In-Class QUIZ 1. A mixed cost function has a constant component of $20,000. If the total cost is $60,000 and the independent variable has the value 200, what is the value of the slope coefficient?
More informationSTUDENT NAME: STUDENT ID: UWDIR/Quest Id:
MIDTERM EXAM AFM 102: Introduction to Managerial Accounting Sections 001, 002, 003 and 005 February 27, 2009: 4:30 6:00 PM Instructors: Robert Ducharme; Thomas Vance; Yutao Li STUDENT NAME: STUDENT ID:
More informationCHAPTER 9 WHAT IS REPORTED AS INVENTORY? WHAT IS INVENTORY? COST OF GOODS SOLD AND INVENTORY
CHAPTER 9 COST OF GOODS AND INVENTORY 1 WHAT IS REPORTED AS INVENTORY? Inventory represents goods that are either manufactured or purchased for resale in the normal course of business Inventory is classified
More information15.963 Management Accounting and Control Spring 2007
MIT OpenCourseWare http://ocw.mit.edu 15.963 Management Accounting and Control Spring 2007 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms. 15.963 Managerial
More informationREVIEW FOR EXAM NO. 1, ACCT-2302 (SAC) (Chapters 16-18)
A. Chapter 16 (Managerial Accounting). 1. Purposes and Principles. (Page 956) REVIEW FOR EXAM NO. 1, ACCT-2302 (SAC) (Chapters 16-18) a. Provides economic/financial information (both historical and estimated)
More informationManagement Accounting 2 nd Year Examination
Management Accounting 2 nd Year Examination August 2010 Paper, Solutions & Examiner s Report NOTES TO USERS ABOUT THESE SOLUTIONS The solutions in this document are published by Accounting Technicians
More informationMGT402 - Cost & Management Accounting Glossary For Final Term Exam Preparation
MGT402 - Cost & Management Accounting Glossary For Final Term Exam Preparation Glossary Absorption costing : Includes all manufacturing costs --- including direct materials, direct labor, and both variable
More informationSTUDENT NAME: STUDENT ID:
MIDTERM EXAM AFM 102: Introduction to Managerial Accounting Sections 001, 002, 003 and 004 February 29, 2008: 4:30 6:00 PM Instructors: Rob Ducharme; Thomas Vance STUDENT NAME: STUDENT ID: TUTORIAL: Room:
More information1. Which one of the following is the format of a CVP income statement? A. Sales Variable costs = Fixed costs + Net income.
1. Which one of the following is the format of a CVP income statement? A. Sales Variable costs = Fixed costs + Net income. B. Sales Fixed costs Variable costs Operating expenses = Net income. C. Sales
More informationUG802: COST MEASUREMENT AND COST ANALYSIS
UG802: COST MEASUREMENT AND COST ANALYSIS April 6, 2014 Kanokporn Rienkhemaniyom, Ph.D. Managerial Accounting - Overview Definition: A profession that involves partnering in management decision making,
More information29.1 COST SHEET : MEANING AND ITS IMPORTANCE
29 COST SHEET You are running a factory which manufactures electronic toys. You incur expenses on raw material, labour and other expenses which can be directly attibuted to cost and which cannot be directly
More informationvolume-profit relationships
Slide 1.3.1 1. Accounting for decision making 1.3 Cost-volume volume-profit relationships Slide 1.3.2 Introduction This chapter examines one of the most basic planning tools available to managers: cost
More informationACC 561 Week 3 Assignment Practice Quiz
ACC 561 Week 3 Assignment Practice Quiz To purchase this material click below link http://www.assignmentcloud.com/acc-561/acc-561- Week-3-Assignment-Practice-Quiz Multiple Choice Question 37 A major purpose
More informationUsing the Integrated Activity-Based Costing and Economic Value Added Information System for Project Management
Using the Integrated Activity-Based Costing and Economic Value Added Information System for Project Management arcyz Roztocki State University of ew York at ew Paltz roztockn@newpaltz.edu Abstract This
More informationCE2451 Engineering Economics & Cost Analysis. Objectives of this course
CE2451 Engineering Economics & Cost Analysis Dr. M. Selvakumar Associate Professor Department of Civil Engineering Sri Venkateswara College of Engineering Objectives of this course The main objective of
More informationLesson-13. Elements of Cost and Cost Sheet
Lesson-13 Elements of Cost and Cost Sheet Learning Objectives To understand the elements of cost To classify overheads on different bases To prepare a cost sheet Elements of Cost Raw materials are converted
More informationPosition Objective and Responsibilities
Position Objective and Responsibilities Job Title: Heating and Air Conditioning Specialist Reports To: in the department. Position Objective To sell, distribute, install, and repair heating, cooling, plumbing,
More information1) Cost objects include: A) customers B) departments C) products D) All of these answers are correct.
Preliminary Test of Cost Accounting Knowledge--Does not affect your grade! Name Mark one letter for each question response. Note that in some cases there are options like ʺD) Both A and C are correct.ʺ
More informationHR Cycle & Production Cycle
HR Cycle & Production Cycle Topik Bahasan Human Resource Cycle Production Cycle Sumber Materi Romney / Steinbart, Accounting Information Systems, 9th Edition ch.11-12, Prentice Hall The Human Resources
More informationIncremental Analysis. Managerial Accounting Fifth Edition Weygandt Kimmel Kieso. Page 7-2
7-1 Incremental Analysis Managerial Accounting Fifth Edition Weygandt Kimmel Kieso 7-2 study objectives 1. Identify the steps in management s decision-making process. 2. Describe the concept of incremental
More informationDETAILED QUESTIONNAIRE AND BUSINESS AUDIT. Shareholder Information Names % Role
DETAILED QUESTIONNAIRE AND BUSINESS AUDIT Shareholder Information Names % Role Management General Manager s name? Production Manager s name? Sales Manager s name? Products manufactured What percentage
More informationSample Test for Management Accounting
Sample Test for Management Accounting Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. 1. Which phrase best describes the current role of the
More informationThe Demise of Cost and Profit Centers
07-030 The Demise of Cost and Profit Centers Robert S. Kaplan Copyright 2006 by Robert S. Kaplan Working papers are in draft form. This working paper is distributed for purposes of comment and discussion
More informationModule 2: Job-order costing
Module 2: Job-order costing Required reading Overview Chapter 3, pages 69-99 This module introduces the distinctions between two methods of determining unit costs of production joborder costing and process
More information15.963 Management Accounting and Control Spring 2007
MIT OpenCourseWare http://ocw.mit.edu 15.963 Management Accounting and Control Spring 2007 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms. 15.963 Managerial
More informationExperiences of Building Cost Models for Software Systems: An Industrial Case Study
Experiences of Building Cost Models for Software Systems: An Industrial Case Study KIM VAATAJA, JUKKA PIIROINEN, PASI OJALA, JANNE JARVINEN Department of Accounting University of Oulu, Oulu Business School
More informationTeaching Special Decisions In A Lean Accounting Environment Daniel Haskin, University of Central Oklahoma, USA
Teaching Special Decisions In A Lean Accounting Environment Daniel Haskin, University of Central Oklahoma, USA ABSTRACT Lean accounting has become increasingly important as more and more companies adopt
More informationFINANCIAL INTRODUCTION
FINANCIAL INTRODUCTION In earlier sections you calculated your cost of goods sold, overhead expenses and capital cost in order to help you determine the sales price of your product. In your business plan,
More informationACG 3024 Accounting for Non-Financial Majors Homework Portfolio Study Guide
ACG 3024 Accounting for Non-Financial Majors Homework Portfolio Study Guide These are similar questions with the answers to help guide you when preparing the Homework Portfolio that you will upload to
More informationUNIT Management Accounting: An Introduction (SCQF level 6)
National Unit Specification: general information CODE F395 12 SUMMARY This Unit is designed to introduce candidates to the some of the basic concepts of Management Accounting. Therefore, it is not necessary
More informationCarlos Rodriguez Monroy, Azadeh Nasiri and Miguel Ángel Peláez
Chapter 2 Activity Based Costing, Time-Driven Activity Based Costing and Lean Accounting: Differences Among Three Accounting Systems Approach to Manufacturing Carlos Rodriguez Monroy, Azadeh Nasiri and
More informationHouse Published on www.jps-dir.com
I. Cost - Volume - Profit (Break - Even) Analysis A. Definitions 1. Cost - Volume - Profit (CVP) Analysis: is a means of predicting the relationships among revenues, variable costs, and fixed costs at
More informationPrinciples of Managerial Accounting ACC-102-TE. TECEP Test Description
Principles of Managerial Accounting ACC-102-TE This TECEP tests the material usually taught in a one-semester course in managerial accounting. It focuses on the information that managers need to make decisions
More informationMc Graw Hill Education
Managerial Accounting for Managers F o u r t h Edition Eric W. Noreen, Ph.D., CMA Professor Emeritus University of Washington Peter C. Brewer, Ph.D. Wake Forest University Ray H. Garrison, D.B.A., CPA
More informationhow to prepare a profit and loss (income) statement
business builder 3 how to prepare a profit and loss (income) statement amegy bank business resource center how to prepare a profit and loss (income) statement 2 how to prepare a profit and loss (income)
More informationAccounting Pilot & Bridge Project Course Outline, Learning Objectives and Student Outcomes
Accounting Pilot & Bridge Project Course Outline, Learning Objectives and Student Outcomes Course Overview The Accounting Pilot & Bridge Project is a year-long course based on high school teachers having
More informationChapter 8 Pricing Decisions, Analyzing Customer Profitability, and Activity-Based Pricing
Chapter 8 Pricing Decisions, Analyzing Customer Profitability, and Activity-Based Pricing QUESTIONS 1. The manager would estimate the quantity that could be sold at various prices. The quantities would
More informationBUSINESS BUILDER 3 HOW TO PREPARE A PROFIT AND LOSS (INCOME) STATEMENT
BUSINESS BUILDER 3 HOW TO PREPARE A PROFIT AND LOSS (INCOME) STATEMENT zions business resource center 2 how to prepare a profit and loss (income) statement A Profit and Loss (P&L) or income statement measures
More informationPaper F5. Performance Management. Monday 2 June 2014. Fundamentals Level Skills Module. The Association of Chartered Certified Accountants
Fundamentals Level Skills Module Performance Management Monday 2 June 2014 Time allowed Reading and planning: Writing: 15 minutes 3 hours ALL FIVE questions are compulsory and MUST be attempted. Formulae
More informationPricing for Profit What Are You Worth? What Do You Need to Charge?
Welcome to Pricing For Profit The Elusive Money Mack Heaton No Secrets Training Pricing for Profit What Are You Worth? What Do You Need to Charge? Do You Deserve a Profit? 2004 No Secrets 1 The HVAC Dealership
More informationThe Profit WIN Numbers Jim Silverman Automotive Training Institute
The Profit WIN Numbers Jim Silverman Automotive Training Institute Today's Agenda Determine how much money you need to make Pay your bills now Have enough for later Learn how to keep score Fix your accounting
More informationTITLE: LEAN MANUFACTURING TRAINING AND CONSULTING USING COSTS TO DRIVE AND MEASURE CONTINUOUS IMPROVEMENT PROJECTS.
TITLE: LEAN MANUFACTURING TRAINING AND CONSULTING USING COSTS TO DRIVE AND MEASURE CONTINUOUS IMPROVEMENT PROJECTS. PROPOSITION: LEAN Manufacturing Training and Consulting Programs which use COST indices
More informationPaper 3A: Cost Accounting Chapter 9 CA. Dharmendra Gupta
Paper 3A: Cost Accounting Chapter 9 CA. Dharmendra Gupta Introduction Cost classification Profit Volume Ratio ( P V ) ratio Break Even Point Margin of Safety Shut Down Point Cost Indifference Point Cash
More informationAdvanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes
Advanced Placement (AP) Accounting Course & Exam Pilot Program Course Outline, Learning Objectives and Student Outcomes Course Overview The Advanced Placement (AP) Accounting Course & Exam Pilot Program
More informationFire? Loss of Profits? 3. What company covers the machinery to be insured under a Machinery Breakdown Policy?
Questionnaire and Proposal for Loss of Profits following Machinery Breakdown Insurance Name Postal address Nature of business: 1. What works of your business are to be insured against Machinery Loss of
More informationCENGAGE Learning" Australia Grazil«Japan Korea Mexico Singapore» Spain United Kingdom «United States
COLIN DRURY COST AND MANAGEMENT ACCOUNTING AN INTRODUCTION EIGHTH EDITION visit the Website at drury-online.com CENGAGE Learning" Australia Grazil«Japan Korea Mexico Singapore» Spain United Kingdom «United
More informationCHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING
CHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING 6-1 The budgeting cycle includes the following elements: a. Planning the performance of the company as a whole as well as planning the performance
More informationThe Basic Framework of Budgeting
Master Budgeting 1 The Basic Framework of Budgeting A budget is a detailed quantitative plan for acquiring and using financial and other resources over a specified forthcoming time period. 1. The act of
More informationSociety of Certified Management Accountants of Sri Lanka
Copyright Reserved Serial No Technician Stage March 2009 Examination Examination Date : 28 th March 2009 Number of Pages : 06 Examination Time: 9.30a:m.- 12.30p:m. Number of Questions: 05 Instructions
More informationCourse 2: Financial Planning and Forecasting
Excellence in Financial Management Course 2: Financial Planning and Forecasting Prepared by: Matt H. Evans, CPA, CMA, CFM This course provides a basic understanding of how to prepare a financial plan (budgeted
More informationAccounting. Draft GCE AS and A level subject content
Accounting Draft GCE AS and A level subject content September 2015 Contents The content for AS and A level accounting 3 Introduction 3 Aims and objectives 3 Subject content 4 Knowledge and understanding
More informationPAPER 19: Cost and Management Audit
PAPER 19: Cost and Management Audit Academics Department, The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 Paper 19 : Cost and Management Audit Time Allowed:
More informationMultiple Choice Questions (45%)
Multiple Choice Questions (45%) Choose the Correct Answer 1. The following information was taken from XYZ Company s accounting records for the year ended December 31, 2014: Increase in raw materials inventory
More informationhttp://www.gosreports.com
http://www.gosreports.com Global Metal 3D Printers Industry 2016 Market Research Report 2016 Global Metal 3D Printers Industry Report is a professional and in-depth research report on the world s major
More informationTraceability Data Integrity: Challenges and Solutions By Mitch DeCaire, Cogiscan, Inc.
Traceability Data Integrity: Challenges and Solutions By Mitch DeCaire, Cogiscan, Inc. The electronics manufacturing industry is experiencing increased demands for material traceability. Competitive pressures
More informationAccounting Principles Critical to Success Presented By: C. P. Krishnan. www.cakintl.com
Accounting Principles Critical to Success Presented By: C. P. Krishnan Basic Accounting You Need to Know Assets, Liabilities, Equity, Income, & Expenses Assets Includes what you have and what people owe
More informationCOST AND MANAGEMENT ACCOUNTING
EXECUTIVE PROGRAMME COST AND MANAGEMENT ACCOUNTING SAMPLE TEST PAPER (This test paper is for practice and self study only and not to be sent to the institute) Time allowed: 3 hours Maximum marks : 100
More informationAGENDA: JOB-ORDER COSTING
TM 3-1 AGENDA: JOB-ORDER COSTING A. The documents in a job-order costing system. 1. Materials requisition form. 2. Direct labor time ticket. 3. Job cost sheet. B. Applying overhead using a predetermined
More informationFriday, September 25, 2015 Des Moines, IA. 8:00 9:00 a.m. WORKERS COMPENSATION LOSS CONTROL
Friday, September 25, 2015 Des Moines, IA 8:00 9:00 a.m. WORKERS COMPENSATION LOSS CONTROL Presented by Dan Castillo Ascension Insurance In the struggle to rein in workers compensation costs, much attention
More informationWHAT IS COST ACCOUNTING
COST ACCOUNTING WHAT IS COST ACCOUNTING This is to look at the way that a business will put it's job costings together. A cost object can be defined as anything in a business that generates costs DIRECT
More informationThe Changing Role of Managerial Accounting in a Dynamic Business Environment 2
Cost Management Systems 23 Managerial Accounting as a Career 23 Professional Organizations 23 Professional Certification 24 Managerial Accounting and the Ethical Climate of Business 24 The Changing Role
More informationRunning Head: Management 1
Running Head: Management 1 Topic : Management Accounting Techniques Paper Type : Coursework Word Count : 3000 Words Pages : 12 pages Referencing Style : APA Referencing Education Level: Bachelors Management
More informationMarginal Costing and Absorption Costing
Marginal Costing and Absorption Costing Learning Objectives To understand the meanings of marginal cost and marginal costing To distinguish between marginal costing and absorption costing To ascertain
More informationChapter 9: Inventories. Raw materials and consumables Finished goods Work in Progress Variants of valuation at historical cost other valuation rules
Chapter 9: Inventories Raw materials and consumables Finished goods Work in Progress Variants of valuation at historical cost other valuation rules 1 Characteristics of Inventories belong to current assets
More informationChapter 08. Markups and Markdowns: Perishables and Breakeven Analysis. Copyright 2011 by the McGraw-Hill Companies, Inc. All rights reserved.
Chapter 08 Markups and Markdowns: Perishables and Breakeven Analysis McGraw-Hill/Irwin Copyright 2011 by the McGraw-Hill Companies, Inc. All rights reserved. #8 LU8.1 Markups and Markdowns; Perishables
More informationActivity-Based Costing for E-Business
Narcyz Roztocki School of Business, State University of New York at New Paltz 75 South Manheim Boulevard, New Paltz, NY 12561 USA Abstract-This paper proposes the use of Activity-Based Costing to more
More informationMARK SCHEME for the May/June 2010 question paper for the guidance of teachers 0452 ACCOUNTING. 0452/21 Paper 21, maximum raw mark 120
www.xtremepapers.com UNIVERSITY OF CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June 2010 question paper for the guidance of teachers
More informationBusiness Conditions Analysis Prof. Yamin Ahmad ECON 736
Business Conditions Analysis Prof. Yamin Ahmad ECON 736 Sample Final Exam Name Id # Instructions: There are two parts to this midterm. Part A consists of multiple choice questions. Please mark the answers
More informationPROFITCENTS ANALYTICAL PROCEDURES EXPECTED VALUE METHODOLOGY
PROFITCENTS ANALYTICAL PROCEDURES EXPECTED VALUE METHODOLOGY INTRODUCTION This document includes an analysis of the projection methodology used in ProfitCents Analytical Procedures in calculating expectations
More information1. Managerial accounting: A. is governed by generally accepted accounting principles. B. places emphasis on special-purpose information.
1. Managerial accounting: A. is governed by generally accepted accounting principles. B. places emphasis on special-purpose information. C. pertains to the entity as a whole and is highly aggregated. D.
More informationDollars and Sense of Sales Compensation ROBERT LINDGREN
Dollars and Sense of Sales Compensation ROBERT LINDGREN Printing Industries Association, Inc. of Southern California DOLLARS & SENSE OF SALES COMPENSATION by Robert Lindgren Many graphic arts executives
More informationCareer Technical Assurance Guide (CTAG) Area. Articulation Number (CTAN)
Business Foundations Subject Code: 141000 This is the first course for the Business and Administrative Services, Finance and Marketing career fields. It introduces students to specializations within the
More informationStrategic Performance Management Professional 2 Examination Pilot Paper
Strategic Performance Management Professional 2 Examination Pilot Paper Notes: Answer all questions. Time Allowed 3.5 hours plus 10 minutes to read the paper Examination Format This is an open book examination.
More information02.Murray Company debited Prepaid Insurance for $960 on July 1, 1998 for a one-year
八 十 八 學 年 度 會 計 學 考 古 題 題 目 難 易 的 順 序 ( 難 易 ) 為 : I III II I Multiple Choice (74%) 01.The purchase of office equipment for $15,000 cash a. is a cash outflow from financing activities. b. is a cash outflow
More informationExercise 17-1 (15 minutes)
Exercise 17-1 (15 minutes) 1. 2002 2001 Sales... 100.0% 100.0 % Less cost of goods sold... 63.2 60.0 Gross margin... 36.8 40.0 Selling expenses... 18.0 17.5 Administrative expenses... 13.6 14.6 Total expenses...
More informationFundamentals Level Skills Module, Paper F5
Answers Fundamentals Level Skills Module, Paper F5 Performance Management June 2014 Answers 1 (a) Full budgeted production cost per unit using absorption costing Product X Y Z Total Budgeted annual production
More informationUnit Title: Managerial Accounting Unit Reference Number: D/502/4812 Guided Learning Hours: 160 Level: Level 5 Number of Credits: 18
Unit Title: Managerial Accounting Unit Reference Number: D/502/4812 Guided Learning Hours: 160 Level: Level 5 Number of Credits: 18 Unit objective and aim(s): This unit aims to give learners a comprehensive
More informationTRADITIONAL VERSUS ACTIVITY-BASED PRODUCT COSTING METHODS: A FIELD STUDY IN A DEFENSE ELECTRONICS MANUFACTURING COMPANY
TRADITIONAL VERSUS ACTIVITY-BASED PRODUCT COSTING METHODS: A FIELD STUDY IN A DEFENSE ELECTRONICS MANUFACTURING COMPANY Myers, Joan K. Le Moyne College myersjk@lemoyne.edu ABSTRACT Organizational environments,
More informationProfit Priorities from Aotivity-Based Costing
By revealing the links between activities and resource consumption, ABC points directly to profit opportunities. Profit Priorities from Aotivity-Based Costing by Robin Cooper and Robert S. Kaplan In recent
More informationCourses in Business and Administrative Services (C4)
Courses in Business and Administrative Services (C4) PATHWAY COURSES SUBJECT CODE Business Foundations 1 141000 Fundamentals of Business and Administrative Services 2 142000 Management Principles 141025
More informationBSCM Sample TEST. CPIM(Certified In Production & Inventory Management) - 1 -
BSCM Sample TEST. 1. Which of the following demand fulfillment approaches typically provides the longest delivery time? A) Engineer-to-order. B) Make-to-order. C) Assemble-to-order. D) Make-to-stock. 2.
More informationFinance 30220 Solutions to Problem Set #3. Year Real GDP Real Capital Employment
Finance 00 Solutions to Problem Set # ) Consider the following data from the US economy. Year Real GDP Real Capital Employment Stock 980 5,80 7,446 90,800 990 7,646 8,564 09,5 Assume that production can
More informationACC112 Principles of Managerial Accounting Administration Outline
ACC112 Principles of Managerial Accounting Administration Outline Course Information Organization Mercer County Community College Course Number ACC112 Credits 4 Contact Hours 4 Description A study of the
More informationModule Title: Management Accounting 2
CORK INSTITUTE OF TECHNOLOGY INSTITIÚID TEICNEOLAÍOCHTA CHORCAÍ Semester 2 Examinations 2008/09 Module Title: Management Accounting 2 Module Code: ACCT 6004 School: Business Programme Title: Bachelor of
More information7. Break-even. Operating and Financial Leverage.
7. Break-even. Operating and Financial Leverage. Problem 38 Variable costs required to produce a unit of a product are following: direct material $7, direct labor $3. A fixed cost per unit of production
More informationGlobal Portable Electric Spark Machine Industry 2015 Market Research Report
Global Portable Electric Spark Machine Industry 2015 Market Research Report 2015 Global Portable Electric Spark Machine Industry 2015 Market Research Report Industry Report is a professional and in-depth
More information