unused capacity costs McGraw-Hill/Irwin Slide 16 Learning Objective 2 Assign costs to cost pools using a first-stage allocation. firstallocation. McGraw-Hill/Irwin Slide 17 Assign Overhead Costs to Activity Cost Pools McGraw-Hill/Irwin Slide 18 Assign Overhead Costs to Activity Cost Pools Direct materials, direct labor, and shipping are excluded because Baxter Battery’s existing cost system can directly trace these costs to products or customer orders. McGraw-Hill/Irwin
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What caused the existing accounting system at ETO to fail? * It is because of the single cost pool accounting system. * In the single cost pool system, all products consume direct labor and overhead in the same proportion. However, some products need more DL whiles other requires more automated machinery operation. * The trends of DL obsolescence also biased the calculation of burden rate, which causes the overall product costs assessment become misleading. 2. Calculate the reported
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Some software products marketed by SAP AG and its distributors contain proprietary software components of other software vendors. Microsoft , WINDOWS , NT , EXCEL , Word and SQL Server are registered trademarks of Microsoft Corporation. IBM , DB2 , OS/2 , DB2/6000 , Parallel Sysplex , MVS/ESA , RS/6000 , AIX , S/390 , ® ® ® AS/400 , OS/390 , and OS/400 are registered trademarks of IBM Corporation. ORACLE is a registered trademark of ORACLE Corporation, California, USA. INFORMIX -OnLine for SAP and Informix
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Marginal Costing Student’s Name: Marginal Costing Course code and name Instructor’s name Learning Institution City, State Date of submission Marginal Costing PRINCIPLES Economists incline to think about costs in terms of static, timeless models with continuous cost functions. The real context is, however, one of businesses and systems which already exist and have accrued a collection of assets of various vintages whose accounting cost replicates past prices, past situations and
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The System Development Lifecycle Paper Accounting Information Systems XACC/210 June 2, 2013 Melissa Stein The System Development Lifecycle Paper Introduction “A comprehensive IT strategy requires careful systems study and should prioritize the acquisition or development of various information systems, including operating and application systems, such as accounting information systems” (Bagranoff, Simkin, & Norman, 2010, p. 416). Through the system development life cycle, requirements
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DR. AZIZAH BT. ABDULLAH SUBMISSOION DATE: 10 FEBRUARY 2010 Table of Contents Contents Chapter One: Introduction to Contemporary Managerial Accounting Concepts 1. 2. Value Chain a. Just in Time (JIT) b. Total Quality Management (TQM) c. Theory of Constraints 3. 4. 5. 6. 7. 8. 9. Target Costing Kaizen Costing Life Cycle Costing (LCC) Pricing Methods Uses and Limitations of Cost-Based and Market-Based Pricing Factors Affecting Prices Pricing Models for Not-for-Profit Organizations 3 4 5 5 6 7 8
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Accounting Management Accounting Financial, Cost and Management Accounting Cost Concept and Cost Object Cost Management Cost Classification Methods of Costing Techniques of Costing Specific Cost Systems Cost Department and its relationship with other Departments Installation of Costing System Specimen Questions with Answers Test Yourself Page . No 1 1 2 3 4 .5 6 7 10 12 13 14 16 17 18 20 ♦ ♦ 1.0 1.1 EVOLUTION OF COST ACCOUNTING, COST CONCEPTS AND COST CLASSIFICATION INTRODUCTION Traditionally
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components. There were two accounting systems proposed to alleviate the problem and get a more accurate cost analysis. These accounting systems were used to further trace the allocated cost pools. Central Issue The accounting systems include two parts: direct labor and total burden. In the existing accounting system (Level 1), the total burden was calculated by multiplying the actual direct labor dollars by the 145% burden rate. The second accounting system (Level 2) , which was proposed by the accounting
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“Educating for Personal and Professional 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:
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Accounting 1.3.1 Meaning 1.3.2 Definition 1.3.3 Objectives 1.3.4 Importance 1.3.5 Functions 1.3.6 Advantages 1.3.7 Limitations 1.4 Methods of Accounting 1.4.1 Single Entry 1.4.2 Double Entry 1.4.3 Steps involved in double entry system 1.4.4 Advantages of double entry system 1.5 Meaning of Debit and Credit 1.6 Types of Accounts and its rules 1.6.1 Personal Accounts 1.6.2 Real Accounts 1.6.3 Nominal Accounts 1.7 Distinction between Book Keeping and Accounting 1.8 Branches of Accounting 1.8.1 Financial
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