An Introduction to Cost Terms and Purposes
Costa sacrificed or forgone resource
to achieve a specific objective.
Cost objectanything for which a cost
measurement is desired (e.g., product,
service).
2
2016 17 Semester 2
ACCT 2121
Homework Question Docket
2-33 Cost of goods manufactured. income statement, manufacturing company. Consider the following
- *r-account balancesolin thousands) for the Shal
Determining
How Costs Behave
Overview
This chapter focuses on how managers can understand
cost behavior through cost functions.
We will also focus on the way managers estimate cost
functions.
Cost
CHAPTER 2 QUIZ
1. Tanner Co. management desires cost information regarding their Rawhide brand. The Rawhide brand
is a(n)
a.
b.
c.
d.
cost object.
cost driver.
cost assignment.
actual cost.
2. The cos
CHAPTER 1
THE MANAGER AND MANAGEMENT ACCOUNTING
See the front matter of this Solutions Manual for suggestions regarding your choices of
assignment material for each chapter.
1-1
Management accounting
Cost-Volume-Profit Analysis
Chapter 3
Costvolumeprofit(CVP)Analysis
A tool and technique that helps managers understand the
tool
relationships among cost, volume, and profit.
relationships
CVP analy
Master Budgeting
and
Responsibility Accounting
The Basic Framework of Budget
A budget is a detailed quantitative expression of a proposed plan
(acquiring and using financial and other resources) over
Inventory Costing
and
Capacity Analysis
Inventory Costing Choices:
The inventory-costing choice determines which manufacturing costs are treated as
inventoriable costs.
The two most common methods of
Flexible Budgets,
Overhead Cost Variances,
and
Management Control
Introduction
In Chapter 7, we have learned flexible budgets and variance analysis for DM and DL.
In this chapter, we now focus on flex
Activity-Based Costing
and
Activity-Based Management
1
Traditional
(or Simple)
Costing System
To understand the need for ABC, lets start from the weaknesses of traditional costing system.
Traditional
Flexible Budgets, Direct-cost
Variances, and Management
Control
Chapter 7
The Use of Variances
In Chapter 6, we have learned how budgets help managers with their planning
function.
We now learn how bu
Decision Making
and
Relevant Information
Five-Step Decision-Making Process
A decision model is a formal method of making a choice, often involving both
quantitative and qualitative analyses.
Manager
CHAPTER 4
JOB COSTING
4-1
Cost poola grouping of individual indirect cost items.
Cost tracingthe assigning of direct costs to the chosen cost object.
Cost allocationthe assigning of indirect costs to
Systems Design:
Job-Order Costing
Chapter 4
Job-order Costing vs. Process Costing
Job-Order Costing (Ch4)
1. Wide variety of distinct
products. Each product
Process Costing (Ch17)
1.
consumes differen
10-33 Homework
1. Both number of units inspected and inspection labor-hours are plausible cost drivers for
inspection costs. The number of units inspected is likely related to test-kit usage, which is
Given an identity x 3 y 3 ( x y )( x 2 xy y 2 ) . If (sin cos ) 2 a , express
sin 3 cos 3 in terms of a.
#
(sin cos ) 2 a
sin 2 2 sin cos cos 2 a
1 2 sin cos a
2 sin cos a 1
a 1
sin cos
2
3
3
sin cos
Use directed numbers to represent the changes in values as described by the underlined
phrases.
(a) In a Mathematics competition, 100 marks are awarded for each correct answer and
50 marks are deducte
Observe the following numbers:
3, 1.5, 0, +76, 7
(a)
(b)
(c)
1
2
Write down all the positive numbers.
Write down all the negative numbers.
Which one is not a directed number?
#
(a) 1.5, + 76
(b) 3, 7
In each of the following, use a directed number to represent the underlined phrase.
(a) The water temperature is 2 C below 0 C.
(b) The cost price is increased by $20.
#
(a) 2 C
(b) +$20
=
In each of
Find the value of 4 sin 30 2 without using a calculator.
#
1
4 sin 30 2 4 2
2
2 2
0
=
Find the value of tan 60 2 cos 30 without using a calculator.
(Leave your answer in surd form.)
#
tan 60 2 cos 30
Find the values of the following expressions.
(a) (sin 22)2 + (cos 22)2
(b) tan 76 tan 14
#
(a) (sin 22)2 + (cos 22)2 = 1
(b) tan 76 tan 14 = 1
=
Find the values of the following expressions.
(a)
sin
Find the values of the following expressions without using a calculator.
(a) sin 45cos 45 + tan 30tan 60
(b)
3 tan 45 4 sin 30
cos 2 30
(c)
2 sin2 45 tan 60cos 30
=
Find the acute angle in each of the
Find the values of the following expressions without using a calculator.
1
2 sin 30 (cos 60 sin 2 45 )
tan 45
(a)
(b)
tan 60 2 tan 45 1
tan 45
4 sin 30
1 tan 60
#
1
2 sin 30 (cos 60 sin 2 45 )
ta
CHAPTER 2
AN INTRODUCTION TO COST TERMS AND PURPOSES
2-1
A cost object is anything for which a separate measurement of costs is desired. Examples
include a product, a service, a project, a customer, a
Job Costing
4-1
A furniture manufacturing company
received an order from a customer to make
10 tables.
This is a job and the factory assigned this
order a job number 2121.
Lets analyze the cost of thi
Activity-Based Costing
and
Activity-Based
Management
Recall that plant overhead is applied to
production in a rational systematic manner,
These methods often involve trade-offs
between simplicity and