Cost Accumulation and Measurement Chapter 3 Managerial Accounting
- Slides: 13
Cost Accumulation and Measurement Chapter 3 Managerial Accounting Concepts and Empirical Evidence
Dichotomy Between Variable / Fixed Costs and Direct / Indirect Costs Direct Costs Indirect Costs Variable Costs Fixed Costs Managerial Accounting Concepts and Empirical Evidence
Manufacturing Vs. Non-manufacturing costs Inventoriable Costs Managerial Accounting Concepts and Empirical Evidence
Manufacturing Vs. Non-manufacturing costs Period Costs Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Basic Cost / Product Flow Chart for Manufacturing Firm Direct Manufacturing Costs Work In Progress Finished Goods Cost of Goods Sold Expanded View? Indirect Manufacturing Costs Cutting Department Assembling Department Finished Department Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Expanded Cost / Product Flow Chart for Manufacturing Firm Direct Manufacturing Costs • Materials • Labor Cutting Department Assembling Department Finishing Department Indirect Manufacturing Costs • Supplies • Supervisor’s Salary • Depreciation • Utilities • Maintenance • Insurance Finished Goods Managerial Accounting Concepts and Empirical Evidence Costs of Goods Sold
Ren Corporation Job Costing Sheet DM = Qty * Unit Cost $2, 000. 00 = 100 * $20. 00 Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Job Costing Sheet DL = Hours * Rate $1, 200 = 100 * $12. 00 Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Job Costing Sheet App OH = Hours * OH Rate $100 = 50 * $2. 00 Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Job Costing Sheet Departmental Cost ( Cutting) = DM + DL + AOH $5, 400 = $2, 000 + $ 3, 000 + $ 400 Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Job Costing Sheet Cum Tot (Finishing) = Dept Cost (Finsh) +Cum Tot (Asm) $7, 750 = $ 1, 900 + $5, 850 Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Job Costing Sheet Cum Unit Cost = Cum Tot / Qty $77. 50 = $ 7, 750 / 100 Managerial Accounting Concepts and Empirical Evidence
Ren Corporation Job Costing Sheet Managerial Accounting Concepts and Empirical Evidence
- Cost accumulation and cost assignment
- Cost accumulation and cost assignment
- Cost accumulation and cost assignment
- Cost accumulation and cost assignment
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