Premium Essay

Principles of Cost Accounting 15th Edition

In: Business and Management

Submitted By bushra234
Words 191216
Pages 765
PRINCIPLES

OF

COST ACCOUNTING

This page intentionally left blank

PRINCIPLES

OF

COST ACCOUNTING
15E

E D W A R D J. V A N D E R B E C K
Professor Emeritus Department of Accountancy Xavier University

Principles of Cost Accounting, 15th Edition
Edward J. VanDerbeck

ª 2010, 2008 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright herein may be reproduced, transmitted, stored or used in any form or by any means graphic, electronic, or mechanical, including but not limited to photocopying, recording, scanning, digitizing, taping, Web distribution, information networks, or information storage and retrieval systems, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the publisher.

Vice President of Editorial, Business: Jack W. Calhoun Acquisitions Editor: Matt Filimonov Developmental Editor: Lauren Athmer Marketing Manager: Kristen Hurd Marketing Coordinator: Heather McAuliffe Content Project Manager: Corey Geissler Production Technology Analyst: Starratt Alexander Media Editor: Scott Fidler Sr. Manufacturing Coordinator: Doug Wilke Production Service: Cadmus Sr. Art Director: Stacy Shirley Internal Designer: Jennifer Lambert, Jen2Design, LLC Cover Designer: cmiller design Cover Image: ªGetty Images

For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706 For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions Further permissions questions can be emailed to permissionrequest@cengage.com Library of Congress Control Number: 2009935270 ISBN-10: 0-8400-3703-1 ISBN-13: 978-0-8400-3703-9 South-Western Cengage Learning, 5191 Natorp Boulevard Mason OH 45040, USA Cengage Learning products are...

Similar Documents

Premium Essay

Marketing Questions Chapter 8

...TermPaperWarehouse.com - Free Term Papers, Essays and Research Documents The Research Paper Factory JoinSearchBrowseSaved Papers Home Page » Business and Management Discuss How the Following Organizations Would Be Arranged in Terms of the Depth and Breadth of Their Product Lines: In: Business and Management Discuss How the Following Organizations Would Be Arranged in Terms of the Depth and Breadth of Their Product Lines: Discuss how the following organizations would be arranged in terms of the depth and breadth of their product lines: A solo-practice family practitioner who does not deliver babies A multi-specialty group practice that provides primary care at five (5) satellite locations An academic medical center Shouldice Hospital in Toronto, which specializes in short-stay surgery for hernia repair According to our text, breadth "refers to the number of different product lines in the mix."  (Berkowitz, 2011, pg 263)  and depth "refers to the nimber of product items within each product line."  (Berkowitz, 2011, pg 263)     For a solo-practice family practitioner who does not deliver babies, the breadth of this organization is very narrow.  The practitioner only has one practice and they have excluded themselves from delivering babies, which may be something wanted from a growing family.  On the other hand, the depth of this organization can possibly still be great.  They can offer family counseling services, perscription services on site,......

Words: 533 - Pages: 3

Premium Essay

Analysis of a Foundation

...the net operating income because it will cause to the high overhead rate. The overhead rate of products is calculated by dividing the total estimated manufacturing overhead cost for the period by the estimated total amount of the allocation base and the formula of that is: Predetermined overhead rate= estimated total manufacturing overhead cost / estimated total of allocation base Indeed, it is calculated before period begins using several procedures: * Estimate the total amount of allocation base, * Then, estimate total fixed manufacturing overhead cost for period and total variable manufacturing overhead cost per unit of the allocation base. * The following equation is used to estimate the total amount of manufacturing overhead: Y = a + bX (Y = the estimated total manufacturing overhead cost, a= the estimated total fixed manufacturing overhead cost, b= the estimated variable manufacturing overhead cost per unit of the allocation base, and X= the estimated total amount of the allocation base). * Finally, calculate predetermined overhead rate. Obviously, the high-predetermined overhead rate will lead to an over applied overhead and the impact of that will known at the end of the fiscal year, which is December when the balance of the manufacturing overhead is closed out to the cost of goods sold. According to the second question that I think if the Terri discuss this situation with her supervisor at the headquarters; however, if she did that she......

Words: 1031 - Pages: 5

Premium Essay

Auditing 2.3

...: Comunicación Y Cultura, Brief Edition, 6/E Eduardo Zayas-Bazán, Solutions Manual And Test Bank 2012 Individual Taxation 6e James W. Pratt, William N. Kulsrud Solutions manaual and test bank A Concise Introduction To Logic 11e Patrick Hurley solutions manual and test bank A friendly introduction to number theory 3rd by silverman( solutions manual) A History of Modern Psychology, 10th Duane P. Schultz, Sydney Ellen Schultz instructor manual with test bank Abnormal psychology - thomas f. Oltmanns (5th ed) solutions manual and test bank Abnormal psychology 14e butcher mineka hooley solutions manual and tet bank About Philosophy, 11/E Robert Paul Wolff,  instructor manual with test bank Absolute C ++ 4e Walter Savitch Solutions manaual and test bank Absolute C++ 5/E Walter Savitch solutions manual and test bank Accounting 24e Carl Warren James M. Reeve Solutions manaual and test bank Accounting 9e Horngren Harrison Oliver Solutions manaual and test bank Accounting concepts and applications - steve albrecht (11th ed) solutions manual and test bank Accounting for governmental and nonprofit entities 16e by wilson & reck solutions manual and test bank Accounting Information System 9e Bonder Solutions manaual and test bank Accounting information systems - george h. Bodnar (10th ed) solutions manual and test bank Accounting information systems 12e marshall b. Romney paul j. Steinbart solutions manual and test bank Accounting Information Systems 2e Robert......

Words: 4815 - Pages: 20

Premium Essay

L.L. Bean Forecasting Case Solution

...Curse of the ethical executive Why “corporate social responsibility” is not a welcome fashion The Economist, Nov 15th 2001 | From the print edition IT IS more than 200 years since Adam Smith observed that people enjoy their daily bread thanks not to the benevolence of their baker, but to his selfish pursuit of profit. In that observation and its implications lies the case for market capitalism. In their economic lives, people behave as though they had no regard for the public good. Yet the outcome, through the operation of the invisible hand, serves the public good better than any social planner could ever do. Nowadays the triumph of the market is taken for granted. But this victory is far from complete—because Smith's insight is, even now, not widely believed. Social progress is still thought to issue not from profit-seeking behaviour, nor even from enlightened government policy (current orthodoxy, after all, frowns on too much of that), but from the benevolence of the baker. Companies are enjoined to do more than serve their customers and make money. Instead they must be “good corporate citizens”; they must attend to the needs of their “stakeholders”; they must contribute to “sustainable development”; they must strive to “raise standards” at home and abroad. Increasingly, companies respond to these admonitions, or affect to, with zeal. So firmly has this view taken root that only a brave man would be willing to go on record against it. In a new booklet for the......

Words: 973 - Pages: 4

Free Essay

Dr Manger

...Organizational Theory, Design, and Change Jones 6th Edition Test Bank Click here to download the solutions manual / test bank INSTANTLY!!! http://solutionsmanualtestbanks.blogspot.com/2011/10/organizational-theory-d esign-and-change_18.html ----------------------------------------------------------------------Organizational Organizational Organizational Organizational Theory, Theory, Theory, Theory, Design, Design, Design, Design, and and and and Change Change Change Change Jones Jones Jones Jones 6th 6th 6th 6th Edition Edition Edition Edition Test Test Test Test Bank Bank Bank Bank -------------------------------------------------------------------------***THIS IS NOT THE ACTUAL BOOK. YOU ARE BUYING the Test Bank in e-version of the following book*** Name: Organizational Theory, Design, and Change Author: Jones Edition: 6th ISBN-10: 0136087310 Type: Test Bank - The test bank is what most professors use an a reference when making exams for their students, which means there’s a very high chance that you will see a very similar, if not exact the exact, question in the test! - The file is either in .doc, .pdf, excel, or zipped in the package and can easily be read on PCs and Macs. - Delivery is INSTANT. You can download the files IMMEDIATELY once payment is done. If you have any questions, please feel free to contact us. Our response is the fastest. All questions will always be answered in 6 hours. This is the quality of service we are providing and we hope to be your...

Words: 29834 - Pages: 120

Premium Essay

Marketing Environment

...In order to aim at having more market share in the today’s world, many companies, especially multinational corporations, are going to expand their businesses with more complicated and scientific analyses and researches. Therefore, market strategies are introduced and widely used by today’s companies. However, in order to survive and even better develop their businesses, it is necessary for companies to have a good understanding of their position in the market environment, and the impact of the changing market environment on themselves. Often times, the right marketing strategies are formulated based on the good knowledge of the current marketing environment, and the relative aspects that influence them. According to the concept of Principles and Marketing, a company’s marketing environment refers to the participants and forces out of marketing who influence the marketing management in establishing and maintaining successful relationships with target customers. Marketing environment consists of two factors, one is microenvironment, which includes the actors close to the company who influence the company ability to its customers, such as the company, suppliers, marketing intermediaries, customer markets, competitors, and publics. The other is macroenvironment, including societal forces of demographic, economic, natural, technological, political, and cultural forces, that make the microenvironment changed (Kotler and Armstrong 66). Good relationship with customers......

Words: 1333 - Pages: 6

Premium Essay

Accounting

...Achievement” DEPARTMENT OF ACCOUNTING, TAXATION, AND LEGAL STUDIES IN BUSINESS ACCOUNTING 231 - COST ACCOUNTING SYSTEMS GRADUATE- 3 S.H. SP 2016 Section A: Wednesday, 3:30-5:50pm, CRN 21871, Starr 210 INSTRUCTOR’S NAME: Dr. Nathan Slavin OFFICE HOURS: Monday and Wednesday 2:25-3:25 LOCATION OF OFFICE: 043 Weller Hall PHONE NUMBER: (516) 463-5690 E-MAIL ADDRESS: actnzs@hofstra.edu Teaching Assistant: Ms. Dan Gu (516) 637-9517 Dgu1@pride.hofstra.edu GENERAL INFORMATION Location of Department Office: 205 Weller Hall Telephone number of Department: 516-463-5684 Department Chairperson: Professor Victor Lopez Department Administrator: Prof. Linda Schain DESCRIPTION OF COURSE This course introduces students to the concepts, conventions, and principles underlying cost accounting and analysis for use by managers for making decisions. At the end of this course, students will understand cost behavior and cost allocation techniques, appreciate internal profitability reporting and analysis, and understand both job order costing and process costing systems utilizing actual, normal and standard costing applications. Also, students will learn standard and flexible budgeting, cost volume profit analysis, and unit cost......

Words: 2169 - Pages: 9

Premium Essay

Business Ethics

...the fact that business ethics are becoming more and more popular among business practitioners as the era of ‘Me-generation’, and its obsession with greed and profit at any cost draws to a close. Besides that, another notable issue addressed was the positive correlation between business ethics and corporate performance. She suggested that recent corporate failures resulted from a singularly motivated strategy of making profits. She also noted that the 1990’s avalanche of corporate collapse could be all attributed directly or indirectly to the decline in business ethics. The third issue raised was the role of managers or business leaders to actually uphold business ethics. She suggested that the formulation of a sound ethical code of practice should be a part of every company’s strategy and that it is the first responsibility of every business leadership. 3. Procedures I have made a research regarding the issues identified in the literature mainly through a computer-assisted research service - LEXIS-NEXIS Academic Universe at http://www.lexisnexis.com/en-us/home.page. From this particular research I have gathered altogether sixteen (16) articles. These articles are published in various journals, namely The Economist, Harvard Business Review, Time, Newsweek, Information Week, Accounting Age, PR Week, Business...

Words: 3304 - Pages: 14

Free Essay

Accounting

...The Pennsylvania State University at Harrisburg Middletown, PA 17057 School of Business Administration ACCT471: Intermediate Accounting I, Sect 001 Fall 2015: Three credit hours Classroom: Olmstead 211C Class Meeting Times: T 6:00 p.m. – 9:00 p.m. Instructor: Dr. Susan Havranek email: sfh12@psu.edu (best way to contact me) Office: E356 Olmstead Office Phone: 717-948-6483 Office Hours: M/T 4:30 p.m. to 5:45 p.m. Thursday 1:00 p.m. to 5:00 p.m. And by Appointment Course Catalog Description: Theory and practice issues in income concepts and value measurement; GAAP; revenues, costs, assets, liabilities, and equities. Prerequisites: ACCTG211 or ACCTG311 Course Objectives: 1. To apply the conceptual foundation of financial accounting; 2. To apply accounting standards; 3. To evaluate and select among alternative accounting treatments for economic events, and 4. To interpret the results and financial position of an entity. Learning Goals: * Collaborative skills: Students will develop collaborative skills by working together to solve exercises during class. * Communication skills: Students will submit written assignments and exams that should exhibit clear communication as......

Words: 2000 - Pages: 8

Premium Essay

Accounting Information Systems of Sibl

...of these early capitalist concepts were adopted and further advanced in medieval Europe from the 13th century onwards. Bangladesh is one of the largest Muslim countries in the world. The people of the Muslim community wishes to design their economic activities in accordance with the percepts of Islam so the establishment of some numbers of Islami Bank in Bangladesh is the true reflection of long day’s deep cry in their heart. The Objective of Social Islami Banking is not only to earn profit, but also to do good and welfare to the people. Islam upholds that, money, income and property belong to Allah and this wealth is to be used for the good of the society. Social Islami Banks operate their banking activates based on the Islamic principles of profit and loss sharing and strictly avoiding interest. 1.2 Background and Purpose of the Internship Program The internship program is an integral part of the BBA program that all the students have to undergo of International Business Administration and Information...

Words: 14908 - Pages: 60

Premium Essay

Business Administration

...CURRICULUM OF BUSINESS ADMINISTRATION FOR BBA, BBS, MBA & MS HIG HER EDUC ATIO N CO MM ISSION (2012) HIGHER EDUCATION COMMISSION ISLAMABAD 1 CURRICULUM DIVISION, HEC Prof. Dr. Syed Sohail H. Naqvi Mr. Muhammad Javed Khan Malik Arshad Mahmood Dr. M. Tahir Ali Shah Mr. Farrukh Raza Mr. Abdul Fatah Bhatti Executive Director Adviser (Academics) Director (Curri) Deputy Director (Curri) Asstt. Director (Curri) Asstt. Director (Curri) Composed by: Mr. Zulfiqar Ali, HEC, Islamabad 2 CONTENTS 1. Introduction……………………………………...........6 2. BBA Programme....................................................11 a. Structure of BBA Programme..……………....12 b. Layout for BBA Programme..........................13 c. Semester-wise Breakup for BBA…...............14 3. Bachelor of Business Studies (BBS)......................15 4. MBA Programme....................................................16 a. Structure of MBA Programme........................17 b. Semester-wise Breakup for MBA...................19 5. MS in Management Sciences................................20 a. Structure of MS Programme...........................20 b. Eligibility for Non-business Degree Holders...21 6. Roadmap for Business Education…………............24 7. BBA Course outlines...............................................25 a. Compulsory Courses for BBA...…….…..........25 b. Foundation Core Courses...........…....…....... 41 c. Major Core Courses........................................59 d. Major...

Words: 58162 - Pages: 233

Free Essay

Ethics in Accouniting

...Ethics in Accounting | Managerial Accounting Q1 | | | Instructor: Nikolaos Kourkoumelis, Ph.D. | Student: Marija Lukic | 11/14/2012 | | Table of Contents The Ethics in Accounting case and the plan…………………………………………….4Incidentals of Authorization and Submittal…….………………………………………………………………..4Objective………………………………………………………………………………………………………………………..4 Use of Observational Techniques…………………………………………………………………………………….4 An overview of the Report……………………………………...……………………………………………………….4Introduction………………………………………………...…………………………………………5The importance of Ethics in Accounting…….……………………………………………………………………..6 Creative Accounting…………………………………………………………………………….…7 Accounting Scandals..……………………………………………………………………………………………………10 The Enron Scandal……………………………………………………………………………………..10 The WorldCom Scandal………………………………………………………………….…………..12The consequences of Creative Accounting……………………..…………………………………13Measures of Prevention……………………………………………………………………………………15Conclusion……………………………………………………………………….…………………..17Bibliography……………………………………………………………...…………………………18 | Table of Figures Figure1. A proposed framework for understanding accounting manipulation practices…….……...9 The Ethics in Accounting case and the plan Incidentals of Authorization and Submittal This report is submitted to Dr. Nikolaos Kourkoumelis , professor of “Managerial Accounting” , on November 14th 2012, as authorized on the second Week of Q1 classes, 2012. The research and......

Words: 6769 - Pages: 28

Free Essay

Econ 136a Syllabus

...Econ 136A: Intermediate Accounting University of California Santa Barbara Fall 2015 Syllabus Professor: Douglas E. Kulper Office Hours: Mon 12:45 – 1:45 pm Office: North Hall 3050 Mon 5:00 – 6:15 pm E-mail: doug.kulper@ucsb.edu Wed 5:00 – 6:15 pm Class Meeting Information Class Time: Monday/Wednesday, 2:00 pm – 3:15 am (Room: NH 1110) Class Time: Monday/Wednesday, 3:30 pm – 4:45 am (Room: NH 1110) Course Description Three hours lecture/discussion/problem solving. An in-depth analysis of recognition, measurement, classification, and valuation issues in financial reporting within the framework of generally accepted accounting principles. Required Text Intermediate Accounting, 15th Edition, Kieso/Weygandt/Warfield Note: It is critical that you use this edition. Materials 1. GauchoSpace at https://gauchospace.ucsb.edu/ 2. WileyPLUS (Course ID: 478331) 3. PowerPoint Slides at Wiley’s website or on GauchoSpace 4. Non-Programmable Calculator – not your phone or a programmable calculator Course Format As discussed below, there will be regular homework, a number of small quizzes, and three noncumulative exams. This course will be rather flexible and students will be responsible for checking e-mail and/or GauchoSpace each week for announcements, corrections, and clarifications to the schedule. GauchoSpace This class is set up on GauchoSpace. I will post announcements and other......

Words: 2491 - Pages: 10

Premium Essay

Accounting Methods

...ACCOUNTING METHODS Presentation of the course Introductory course   4 “intensive” days   Theory, terminology, practical examples   Suggested readings:     Elliott, Barry; Elliott, Jamie: "Financial Accounting and Reporting", Prentice Hall 2012, 15th edition.   Horngren, Bhimani, Datar and Foster: "Management and Cost Accounting." Prentice Hall, 2007, 4th edition. Info What to expect from this course:   An introduction to the discipline to prepare you for the proceedings of your Master   To learn the “language” of the Business   An overview of the topics in FA, MA and FSA “Course Limitations” Key questions What is the role of accounting?   Accounting provides information.   It measures business transactions and operations, “translating” them into numbers, in order to provide information. Why do we need to study accounting? Who are the user of this information? Why do we study accounting? To understand the world of business (and its language)   To make better investment choices (resource allocation)   To become advanced users   To become advanced preparers   …   The “users” of accounting information Primarily “external” oriented Financial Accounting Managerial Accounting Primarily “internal” oriented Tax Accounting Primarily “external” oriented Financial Accounting and Reporting Generally Accepted Accounting Principles (GAAP), International Accounting Standards (IAS), International Financial Reporting Standards......

Words: 6361 - Pages: 26

Premium Essay

F14 - Adms 3585a, B, C Course Outline

...Intermediate Accounting I Course Director : Section : Course website: Date/Time: Liona Lai, CA CPA, PH.D A and C Alla Volodina, CA CPA B Location : Instructor Office Hours: E-Mail Address : A: Friday 11am to Wednesday 7-10pm 2pm C: Friday 2pm to 5pm ACE 009 ACE 009 Liona Lai: Friday 9:45 am to 10:45am ATK 212; Alla Volodina: by appointment adms3585@yorku.ca Calendar Description This course, in conjunction with AP/ADMS 3595 3.00, develops thorough knowledge and understanding of generally accepted accounting principles and financial statement analytical skills by examining various technical areas of financial accounting. Prerequisite: AP/ADMS 2500 3.00. Prior to Fall 2009 Prerequisite: AK/ADMS 2500 3.0. Course credit exclusion: AK/ADMS 3585 3.00. Learning Outcomes After completion of the course, apart from mastering the technical knowledge of the revenue and asset side of the financial statements, students should also 1. Understand the importance of ethics in the accounting profession and realize potential conflicts of interest that one may encounter in the profession. 2. Begin to learn how to see the inter-relationship between accounting issues, analyse them, and integrate the findings to draw reasonable conclusions. 3. Begin to learn the basics of case writing and communicate effectively. 4. Understand the importance of teamwork and learn how to develop work plans and resolve conflicts. Textbook Required Intermediate Accounting, 10th Canadian Edition, Volume 1,......

Words: 4600 - Pages: 19