TAILIEUCHUNG - Lecture College accounting (13/e): Chapter 29 - Price, Haddock, Farina

Chapter 29 - Controlling manufacturing costs: standard costs. After reading this chapter, you should be able to: Explain how fixed, variable, and semivariable costs change as the level of manufacturing activity changes; use the high-low point method to determine the fixed and variable components of a semivariable cost; prepare a fixed budget for manufacturing costs; develop a flexible budget for manufacturing costs;. | 1- McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Controlling Manufacturing Costs: Standard Costs Section 1: Cost Behavior and the Budget Section Objectives Explain how fixed, variable, and semivariable costs change as the level of manufacturing activity changes. Use the high-low point method to determine the fixed and variable components of a semivariable cost. Prepare a fixed budget for manufacturing costs. Develop a flexible budget for manufacturing costs. Chapter 29 Variable Costs Variable costs vary in total in direct proportion to the changes in the level of activity. Direct materials and direct labor are examples of variable costs. Direct Materials 1 unit = $ 5 1,000 units = $ 5,000 4,000 units = $20,000 The total variable cost change, but the cost per unit does not change. Fixed Costs Fixed costs do not change in total as the total level of activity changes. Although fixed costs do not change in total as the level of .

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• College accounting
• Lecture College accounting
• Financial statement
• Cost accounting
• Controlling manufacturing costs
• Standard costs
• Job order cost accounting
• Accounting for sales
• Accounts receivable
• Accounting for purchases
• Accounts payable
• Closing procedures
• Accounting cycle
• Accounting principles
• Reporting standards
• Accounting for partnerships
• Allocating income
• Process cost accounting
• Process inventory
• Language of business
• Financial information
• Analyzing business transactions
• Financial interest
• T accounts
• General ledger
• General journal
• The worksheet
• Trial balance
• Closing entries
• Postclosing trial balance
• Cash receipts
• Cash payments
• Payroll computations
• Payroll laws
• Payroll taxes
• Employee income tax
• Recording adjustments
• Uncollectible accounts
• Notes payable
• Notes receivable
• Merchandise inventory
• Inventory costing methods
• Disposition of assets
• Depreciation methods
• Capital stock transactions
• Capital stock
• Corporate earnings
• Capital transactions