Review for Final Exam:
13-18 & 13-19
Roberto & Sons buys T-shirts in bulk, applies its own trendsetting silk-screen designs, and then sells the Tshirts to a number of retailers. Roberto wants to be known for its trendsetting designs, and
Review for Exam 2
6-35. Slopes, Inc., manufactures and sells snowboards. Slopes manufactures a single model, the Pipex. In the
summer of 2011, Slopes management accountant gathered the following data to prepare budgets for 2012:
Materials and Labor Requir
& Analysis of Sales Variances
13-22 & 23
Stanmore Corporation makes a special-purpose machine, D4H, used in the textile industry. Stanmore has
designed the D4H machine for 2011 to be distinct from its co
Chapter 4 Job Costing
Review from last class
Cost Volume Profit Analysis
Breakeven point ( in units and sales)
Target profit (before taxes & after taxes)
Multi-product CVP (computing weighted
average contribution margin)
Why do we need
Introduction to Cost Accounting
Patrick R Martin
Syllabus review and course expectations
Cost Accounting two broad applications
Example 1 - Netflix
Example 2 Corporate Social Responsibility
A Little About Myself.
Chapter 10 Class Review
A mixed cost function has a constant component of $20,000. If the total cost is $60,000 and the
independent variable has the value 200, what is the value of the slope coefficient?
Chapter 10 Additional Homework w/Answers
Four approaches to estimating a cost function are
Industrial engineering method.
Account analysis method.
Quantitative analysis of current or past cost relation
Chapter 17 Class Review
Top That manufactures baseball-style hats. Material is introduced at the beginning of the process in the
Cutting Department. Conversion costs are incurred (and allocated) uniformly throughout the process. As
the cutting of material
Class Review-CHAPTER 4
1. A cost-allocation base may be any of the following except a
way to link indirect costs to a cost object.
2. A company that manufactures dentures for use by local dentists
Chapter 4 Addl Homework Answers4-3
An advertising campaign for Pepsi is likely to be very specific to that
individual client. Job costing enables all the specific aspects of each job to be
identified. In contrast, the processing of checking account withdr
CLASS REVIEW CHAPTER 5
1. Production-cost cross-subsidization results from
allocating indirect costs to multiple products.
assigning traced costs to each product.
assigning costs to different products using varied costing systems within the same
Chapter 4 Terminology
Cost pool- grouping of individual indirect cost items
Cost allocation basis- way to link indirect costs to a cost object
Job costing is used to cost a distinct product.
Process costing is used to cost masses of identical or similar u
Chapter 2 Terminology
Cost is a resource sacrificed or forgone to achieve a specific objective.
Actual cost is the historical amount, or cost incurred.
Budgeted cost is the predicted or forecasted (future) amount of cost.
Cost object is anything for which
Introduction to Cost Terms
Professor Patrick Martin
Professor Patrick Martin
Cost Basics Review
Direct vs. Indirect Costs
Variable vs. Fixed Costs
Inventoriable vs. Period Expenses
Prime and Conversion Costs
Cost of Goods Manufactured
Beg WIP + DM + DL + M/O End WIP =
Joint and By Product Costs
Review Support Department
Why do we need support department
What are the 3 methods?
Which method is generally preferred?
Joint Product Costing
Some manufacturing plants yield more than one produ
Chapter 13 Strategy,
Balanced Scorecard & Strategic
Strategy specifies how an organization
matches its own capabilities with the
opportunities in the marketplace to
accomplish its objectives
Strategy simplified a plan to ac
Ch. 21 Capital Budgeting
The process of identifying, evaluating,
selecting, and controlling capital
Type of decisions include:
Purchases of equipment, buildings
Acquisitions & sale of divisions or
Flexible Budgets, Overhead Cost Variances
And Management Control
6-27. Game Guys is a retail store selling video games. Sales are uniform for most of the year,
but pick up in June and December, both because new release come out and because games
Inventory Costing Review
What is variable costing?
What is absorption costing?
What is impacted by using variable costing as
opposed to absorption costing?
What incentive may managers have when using
What are t
Ch. 6 Master Budget &
A Budget is
The quantitative expression of a proposed plan
of action by management for a specified period
An aid to coordinating what needs to be done to
implement that plan
Lets say that I own a c
Roadmap for todays Lecture
Absorption vs variable costing (most of todays lecture)
Capacity analysis (deals with fixed OH rate denominator)
Theoretical vs practical vs normal vs master-budget capacity
CHAPTER Overviews- EXAM 1
Chapter 5 -ABC
Chapter 5 focuses on allocation of indirect costs by using an activity-based costing (ABC)
system. Companies that produce a variety of products need a costing system that allocates
costs based on the varying resour
(30 min.) Activity-based costing, manufacturing.
Fancy Doors, Inc., produces two types of doors, interior and exterior. The companys simple
costing system has two direct cost categories (materials and labor) and one indirect cost pool.
The simple cos
Get Started- BUS-A 325 Fall 2016
With Pearsons MyLab & Mastering and Canvas
Enter Your Canvas Course
1 Sign in to Canvas and enter your Canvas course.
2 Do one of the following:
Select MyLab & Mastering in Course Navigation, and then select any course lin
A325 Cost accounting
Chapter 10 Determining how cost behave
This chapter focuses on identifying common linear cost behaviors and understand how they change as
activities (or cost drivers) change. High-low method and regression analysis method are introduc
Connor Wyatt & Breuon Magee
PEVSNER, BARRY D. v COMM., 46 AFTR 2d 80-5938, 628 F2d 467, 80-2 USTC 9732 revg.
Pevsner, Barry D. & Sandra J., 1979 PH TC Memo 79,311 (CA5, 10/20/1980)
Sandra J. Pevsner has been an employee of Sakowitz Yves S
Chapter 10 Terminology
Cost functions are mathematical formulas that describe how costs behave relative to changes.
The formula for a cost function is
y a bX
Variable cost function represents a cost that increases in total as the level of the cost drive
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 brand category, an activity, and a
Direct costs of a cost object
A325 (8866) - Cost Accounting
IUPUI Kelley School of Business Indianapolis
Tentative and Subject to Change by the Instructor
Class time: Tuesday and Thursday 6-9:15pm
Instructor: Sharon VanDyke
Office: IP100 (Hine Hall)
CHAPTER 2 Class Review
Galway Co. management desires cost information regarding its Celtic brand. The Celtic brand is a(n)
The cost of printer paper on a college campus would be a d