Cost Accounting: A Managerial EmphasisStudying cost accounting is one of the best business decisions a student can make. Why? Because success in any business-from the smallest corner store to the largest multinational corporation-requires the use of cost accounting principles and practices. Cost accounting provides key data to managers for planning and controlling, as well as for costing products, services, and customers. |
Contents
The Accountants Role in the Organization3 | 3 |
The pervading duties of the management accountant | 9 |
manufacturing and nonmanufacturing activities | 26 |
Copyright | |
58 other sections not shown
Common terms and phrases
absorption costing accounting system Accounts payable activity allocation alternative amount analysis annual approach Assume breakeven point budget variance cash flows Chapter Compute contribution margin cost accounting December 31 decisions denominator volume depreciation Direct materials direct-labor cost direct-labor hours dollars efficiency variance ending inventory equipment example Exhibit finished fixed costs fixed factory overhead fixed overhead fixed-overhead flexible budget Gross margin income statement incurred indirect investment labor machine manufacturing costs manufacturing overhead master budget measure method month net income net present value operating income organization output overapplied overhead applied overhead costs overhead rate percent performance physical units predictions present value price variance problem product costing production volume variance profit proration purchased rate of return relevant reports REQUIRED revenue Schedule selling and administrative sold standard costs total costs unfavorable unit cost variable costs Variable factory overhead variable overhead Work-in-process