tailieunhanh - Lecture Managerial accounting (11E) - Chapter 2: Measuring product costs

This chapter shows how the accounting system records and reports the flow of costs in organizations to answer questions such as these: To determine product/service cost, to compare cost with management’s expectations. | Measuring Product Costs CHAPTER 2 Managerial Accounting 11E Maher/Stickney/Weil © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. PowerPoint Presentation by LuAnn Bean Professor of Accounting Florida Institute of Technology Chapter 2: Measuring Product Costs CHAPTER GOAL This chapter shows how the accounting system records and reports the flow of costs in organizations to answer questions such as these: To determine product/service cost To compare cost with management’s expectations ☼ ☼ This chapter shows how the accounting system records and reports the flow of costs in organizations. Companies need to know how to determine product or service costs and to compare costs with management’s expectations. DIRECT MATERIALS: Definition Can be easily traced directly to a . | Measuring Product Costs CHAPTER 2 Managerial Accounting 11E Maher/Stickney/Weil © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. PowerPoint Presentation by LuAnn Bean Professor of Accounting Florida Institute of Technology Chapter 2: Measuring Product Costs CHAPTER GOAL This chapter shows how the accounting system records and reports the flow of costs in organizations to answer questions such as these: To determine product/service cost To compare cost with management’s expectations ☼ ☼ This chapter shows how the accounting system records and reports the flow of costs in organizations. Companies need to know how to determine product or service costs and to compare costs with management’s expectations. DIRECT MATERIALS: Definition Can be easily traced directly to a product. LO 1 Recording costs for a manufacturing company requires more complexity than does recording costs for a retail, wholesale, or service company. Companies divide manufacturing costs into three major categories. The first category is direct materials, which are easily traced directly to a product. DIRECT LABOR: Definition Is labor of workers who transform materials into a finished product. LO 1 The second category is direct labor, which is labor of workers who transform materials into a finished product. MANUFACTURING OVERHEAD: Definition Includes all other costs of transforming the materials to a finished product. LO 1 The third category is manufacturing overhead, which includes all the other costs of transforming the materials to a finished product. How are materials, labor not directly traceable to a product categorized? All costs, including materials and labor, not directly traceable to a product are categorized as Manufacturing Overhead. LO 1 Examples include .

• Kế toán - Kiểm toán
• Managerial accounting
• Lecture Managerial accounting
• Measuring product costs
• Direct materials
• Actual costing
• Comparing normal
• Managerial accounting for managers
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost