TAILIEUCHUNG - Lecture Cost management: A strategic emphasis (6/e) - Chapter 4: Job costing

After studying this chapter you should be able to: Explain the types of costing systems, explain the strategic role of product costing, explain the flow of costs in a job costing system, explain the application of factory overhead costs in a job costing system,. | Job Costing Chapter Four 4-2 Explain the types of costing systems Explain the strategic role of product costing Explain the flow of costs in a job costing system Explain the application of factory overhead costs in a job costing system Learning Objectives 2 4-3 Learning Objectives (continued) Calculate underapplied and overapplied overhead and show how to dispose of it at the end of the period Explain an operation costing system Explain how to handle spoilage, rework and scrap in a job costing system 3 4-4 Why Costing Systems? Costing accuracy is critical to a firm’s success Costing systems help management estimate costs and accurately charge customers An accurate costing system can provide a competitive advantage 4-5 Product costing is a general term that refers to the process of assigning both direct and indirect costs to products or services: Direct costs are traced to a cost object (., a job) Indirect costs are allocated to a cost object (using one or more cost-allocation bases/cost drivers) A firm’s choice of costing system depends on the firm’s industry and product or service, the firm’s strategy and management information needs, and the costs and benefits of acquiring, designing, modifying, and operating a particular system Developing a Costing System 4-6 When developing a product-costing system, there are three choices that must be made: Cost accumulation method (., job or process costing) Cost measurement method (., actual, normal, or standard costing) Overhead assignment method (., volume-based or activity-based) Each product-costing system will reflect these three choices For example, an organization’s cost system may be characterized by: job costing with normalized costs, and activity-based costing used to allocate indirect costs Developing a Costing System (continued) 4-7 Cost accumulation: Job or Process Costing? In a job costing system, all manufacturing costs incurred are assigned to jobs This type of system is appropriate when cost can

• Quản trị kinh doanh
• Job costing
• Cost management
• Cost systems
• Operational performance measurement
• Strategic performance measurement
• Product costing
• Lecture Management accounting
• Bài giảng Kế toán quản trị
• Management accounting
• Job – order costing method
• Job order costing flow
• Materials requisition form
• Job cost sheet
• Managerial accounting
• Lecture Managerial accounting
• Process costing
• Standard costing systems
• Product costs
• Job order costing
• Standard costing
• Cost accounting
• Fundamentals of cost accounting
• Cost analysis
• Cost management systems
• Financial statement
• Profitability analysis
• Managerial accounting for managers
• Job order costing systems
• Cost terminology
• Cost behaviors
• Predetermined overhead rates
• Absorption variable costing
• Variance analysis
• Classification of costs
• Absorption costing
• Marginal costing
• A global business environment
• Organizational cost flows
• Relevant costing
• Kế toán quản trị
• Systems design
• Overhead application
• Bài giảng Kế toán chi phí
• Kế toán chi phí
• Kế toán chi phí theo công việc Job costing
• Công việc Job costing
• Kế toán theo chi phí thực tế
• Accounting principles
• Lecture Accounting principles
• Nguyên lý kế toán
• Cost allocation
• Cost concepts
• Cost behavior analysis
• Costing systems
• The changing business environment
• Incremental analysis
• Activity based costing
• Cost volume profit analysis
• Cost volume profit relationships
• Variable costing
• Segment reporting
• Managerial accounting concepts
• Performance planning
• Financial analysis
• Budgetary planning
• Budgetary control
• Super variable costing
• Super variable costing classifies
• Unit cost computations
• Performance evaluation
• Decentralized organizations