ACIS_2116_Topics_Test_2

ACIS_2116_Topics_Tes - ACIS 2116 TOPICS COVERED TEST 2 CHAPTER 5 APPENDIX Process Costing A Process Costing Weighted Average Method 1 Combine units

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ACIS 2116 – T OPICS C OVERED – T EST 2 C HAPTER 5 - A PPENDIX Process Costing A. Process Costing – Weighted Average Method 1. Combine units in beginning inventory with units started in current period. 2. Calculate the equivalent units of production. 3. Calculate manufacturing costs per equivalent unit. 4. Allocate costs between finished goods and work in process inventories. C HAPTER SIX Activity-Based Costing A. ABC Costing vs. Traditional overhead allocation 1. ABC - allocate overhead costs based on activities that drive costs. 2. Traditional overhead allocation - use 1 or 2 volume-based cost drivers 3. Effect of overhead allocation method on high-volume vs. low-volume products B. ABC Costing 1. Unit-, batch-, product, and facility-level costs 2. Activities 3. Cost drivers 4. Overhead rate for each activity 5. Total overhead cost 6. Total production cost 7. Compare overhead calculated using ABC costing to overhead calculated using traditional costing. C. ABC and service/nonmanufacturing industries D. Benefits and Limitations of ABC C HAPTER S EVEN Cost-Volume-Profit Analysis and Variable Costing
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This note was uploaded on 04/07/2008 for the course ACIS 2116 taught by Professor Cmeasterwood during the Spring '08 term at Virginia Tech.

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ACIS_2116_Topics_Tes - ACIS 2116 TOPICS COVERED TEST 2 CHAPTER 5 APPENDIX Process Costing A Process Costing Weighted Average Method 1 Combine units

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