TAILIEUCHUNG - Ebook Managerial accounting (8E): Part 2

(BQ) Part 2 book "Managerial accounting" has contents: Segmented reporting, investment center evaluation, and transfer pricing; tactical decision making; capital investment decisions; inventory management; environmental cost management; international issues in management accounting,.and other contents. | visit visit chapter 9 Standard Costing: A Managerial Control Tool l e a r n i n g o b j e c t i v e s After studying this chapter, you should be able to: 1. Tell how unit standards are set and why standard costing systems are adopted. 2. State the purpose of a standard cost sheet. 3. Describe the basic concepts underlying variance analysis, and explain when variances should be investigated. 4. Compute the materials and labor variances, and explain how they are used for control. 5. Calculate the variable and fixed overhead variances, and give their definitions. 6. Appendix: Prepare journal entries for materials and labor variances, and show how to account for overhead variances. visit visit Scenario At the start of a new year, Rosita Mendez, president of Blue-Corn Foods, Inc., liked to look back over the past year’s results. She reviewed the income statement with pleasure: Sales were up and costs were down. Operating income had increased significantly over the year before. Rosita firmly believed that these improvements could be largely traced to the institution of a standard costing system early last year. At this time last year, Rosita was also reviewing the previous year’s performance, but was not happy. Sales were slipping and costs seemed out of control. Quality control had been lacking; more than once, a state government’s division of weights and measures had fined Blue-Corn Foods for underfilling its bags of “Bluechitos,” crispy chips made from blue corn. Rosita had gone directly to BlueCorn Foods’ controller, Mel Hamilton. Mel had confirmed her assessment of the need for closer cost and quality control. He explained that a standard cost system could go a long way toward solving the difficulties that troubled Rosita. A standard cost system determines the price and quantity standards for

• Kế toán - Kiểm toán
• Managerial accounting
• Segmented reporting
• Investment center evaluation
• Environmental cost management
• Inventory management
• Capital investment decisions
• Managerial accounting for managers
• Lecture Managerial accounting
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost