tailieunhanh - Lecture Management accounting (5/e): Chapter 11 - Kim Langfield-Smith

Chapter 11 - Standard costs for control: flexible budgets and manufacturing overhead . In this chapter, you will learn: Flexible budgets, input measures and output measures, overhead application in a standard costing system, calculating and interpreting overhead cost variances, standard costs for product costing, an appraisal of standard costing systems, activity-based budgeting. | Chapter 11 Standard costs for control: flexible budgets and manufacturing overhead 11- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Outline Flexible budgets Input measures and output measures Overhead application in a standard costing system Calculating and interpreting overhead cost variances Standard costs for product costing An appraisal of standard costing systems Criticisms and advantages Activity-based budgeting 11- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Flexible budgets A detailed budget prepared for a range of levels of activities Compared to a static budget which relates to one specific planned level of activity Often restricted to flexing overhead costs to various levels of activity Allow us to select the most appropriate benchmark for cost control Provide a . | Chapter 11 Standard costs for control: flexible budgets and manufacturing overhead 11- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Outline Flexible budgets Input measures and output measures Overhead application in a standard costing system Calculating and interpreting overhead cost variances Standard costs for product costing An appraisal of standard costing systems Criticisms and advantages Activity-based budgeting 11- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Flexible budgets A detailed budget prepared for a range of levels of activities Compared to a static budget which relates to one specific planned level of activity Often restricted to flexing overhead costs to various levels of activity Allow us to select the most appropriate benchmark for cost control Provide a valid basis for comparing actual and expected costs, for the actual level of activity 11- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith 11- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Input measures and output measures Units of output are not usually a meaningful measure of the level of activity in a multi-product firm Output can be measured as the standard quantity of input allowed, given actual output Machine hours Direct labour hours The choice between input or output measures becomes important when multiple products are being manufactured 11- Copyright 2009 McGraw-Hill Australia Pty Ltd PowerPoint Slides t/a Management Accounting 5e by Langfield-Smith Prepared by Kim Langfield-Smith Flexible overhead budget Flexible budget report: shows flexible overhead budgets at .

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