{"product_id":"cost-accounting-9781119731863","title":"Cost Accounting","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003e1 Cost Accounting Has Purpose 1-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1.1 Companies Know Their Purpose: Do You Know Yours? 1-2\u003c\/p\u003e \u003cp\u003ePurpose Is Meaningful 1-2\u003c\/p\u003e \u003cp\u003eCompany Strategy: Turning Purpose into Action 1-2\u003c\/p\u003e \u003cp\u003eYour Own Strategy 1-4\u003c\/p\u003e \u003cp\u003eMeasures, Targets, and Results on the Balanced Scorecard 1-5\u003c\/p\u003e \u003cp\u003e1.2 The Purpose of Cost Accounting 1-9\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Data Analytics Isn’t New 1-9\u003c\/p\u003e \u003cp\u003eBig Picture Thinking and Decision-Making 1-10\u003c\/p\u003e \u003cp\u003eUsing Data Analytics to Problem-Solve 1-14\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Keeping Score 1-14\u003c\/p\u003e \u003cp\u003eThe Value Chain 1-15\u003c\/p\u003e \u003cp\u003e1.3 What Guides Our Purpose? 1-17\u003c\/p\u003e \u003cp\u003eThe Importance of Ethics in Business 1-17\u003c\/p\u003e \u003cp\u003eGoverning Bodies Within Accounting 1-18\u003c\/p\u003e \u003cp\u003eAppendix 1A: Why You Should Learn to Learn 1-23\u003c\/p\u003e \u003cp\u003eYour Role as a Lifelong Learner 1-23\u003c\/p\u003e \u003cp\u003eFixed versus Growth Mindset 1-23\u003c\/p\u003e \u003cp\u003ePurposeful Pedagogy 1-24\u003c\/p\u003e \u003cp\u003eHow This Text Can Help You Learn 1-25\u003c\/p\u003e \u003cp\u003eData Analytics Activities 1-35\u003c\/p\u003e \u003cp\u003e\u003cb\u003e2 Refresher on Cost Terms 2-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2.1 Overview of Costs 2-2\u003c\/p\u003e \u003cp\u003eUsing Financial Statements to Interpret Revenues and Expenses 2-2\u003c\/p\u003e \u003cp\u003eCosts versus Expenses: Let’s Get Specific 2-3\u003c\/p\u003e \u003cp\u003eOpportunity Costs and Sunk Costs 2-4\u003c\/p\u003e \u003cp\u003e2.2 Costs for Service Providers, Merchandisers, and Manufacturers 2-7\u003c\/p\u003e \u003cp\u003eService Providers 2-7\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Cutting Corners 2-8\u003c\/p\u003e \u003cp\u003eMerchandisers 2-8\u003c\/p\u003e \u003cp\u003eManufacturers 2-10\u003c\/p\u003e \u003cp\u003e2.3 Defining and Assigning Costs 2-11\u003c\/p\u003e \u003cp\u003eProduct and Period Costs 2-12\u003c\/p\u003e \u003cp\u003eManufacturing and Nonmanufacturing Costs 2-12\u003c\/p\u003e \u003cp\u003eThe Cost Object, Direct Costs, and Indirect Costs 2-14\u003c\/p\u003e \u003cp\u003ePrime Costs and Conversion Costs 2-15\u003c\/p\u003e \u003cp\u003e2.4 Variable and Fixed Costs and the Relevant Range 2-16\u003c\/p\u003e \u003cp\u003eVariable Costs 2-16\u003c\/p\u003e \u003cp\u003eManaging Variable Costs 2-17\u003c\/p\u003e \u003cp\u003eData Analytics in Action: It’s a Snap! 2-17\u003c\/p\u003e \u003cp\u003eFixed Costs 2-17\u003c\/p\u003e \u003cp\u003eManaging Fixed Costs 2-18\u003c\/p\u003e \u003cp\u003eRelevant Range and Costs of Capacity 2-19\u003c\/p\u003e \u003cp\u003eFixed Costs on a Per-Unit Basis: Be Careful 2-20\u003c\/p\u003e \u003cp\u003e2.5 Tracing Product Costs from the Balance Sheet to the Income Statement 2-21\u003c\/p\u003e \u003cp\u003eInventoriable Costs 2-22\u003c\/p\u003e \u003cp\u003eRaw Materials Inventory on the Balance Sheet 2-22\u003c\/p\u003e \u003cp\u003eWork-in-Process Inventory on the Balance Sheet 2-23\u003c\/p\u003e \u003cp\u003eFinished Goods Inventory on the Balance Sheet 2-24\u003c\/p\u003e \u003cp\u003eCost of Goods Manufactured 2-25\u003c\/p\u003e \u003cp\u003eCost of Goods Sold 2-26\u003c\/p\u003e \u003cp\u003e2.6 Comparing Gross Margin and Contribution Margin Income Statements 2-28\u003c\/p\u003e \u003cp\u003eGross Margin versus Contribution Margin 2-28\u003c\/p\u003e \u003cp\u003eFull Costs 2-30\u003c\/p\u003e \u003cp\u003eData Analytics Activities 2-49\u003c\/p\u003e \u003cp\u003e\u003cb\u003e3 Cost Behavior and Cost Estimation 3-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e3.1 The Basics of Cost Behavior 3-2\u003c\/p\u003e \u003cp\u003eSelecting Cost Drivers 3-2\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Counting Cars 3-2\u003c\/p\u003e \u003cp\u003eThe Relevant Range, and Costs Within It 3-3\u003c\/p\u003e \u003cp\u003e3.2 Estimating Costs Is Crucial: Here’s How 3-9\u003c\/p\u003e \u003cp\u003eAccount Analysis Method 3-9\u003c\/p\u003e \u003cp\u003eHigh-Low Method 3-10\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Scatter to Avoid Slacking? 3-12\u003c\/p\u003e \u003cp\u003eExcel Tutorial: The Scatter Plot 3-12\u003c\/p\u003e \u003cp\u003e3.3 Sophisticated Cost Estimation with Regression 3-15\u003c\/p\u003e \u003cp\u003eOverview of the Regression Method 3-15\u003c\/p\u003e \u003cp\u003eExcel Tutorial: Regression Analysis 3-17\u003c\/p\u003e \u003cp\u003eEvaluating Regression Output 3-21\u003c\/p\u003e \u003cp\u003eAssumptions of Regression 3-23\u003c\/p\u003e \u003cp\u003eMultiple Regression 3-25\u003c\/p\u003e \u003cp\u003e3.4 When Costs Are Nonlinear: The Learning Curve 3-29\u003c\/p\u003e \u003cp\u003eApplying the Learning Curve 3-30\u003c\/p\u003e \u003cp\u003eLearning Curve Impacts on Costs and Prices 3-31\u003c\/p\u003e \u003cp\u003eData Analytics Activities 3-54\u003c\/p\u003e \u003cp\u003e\u003cb\u003e4 Cost-Volume-Profit Analysis 4-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4.1 Contribution Margin and the Break-Even Sales Point 4-2\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Consuming Coffee and Trends 4-2\u003c\/p\u003e \u003cp\u003eContribution Margin 4-2\u003c\/p\u003e \u003cp\u003eNumbers of Sales in Units to Break Even 4-4\u003c\/p\u003e \u003cp\u003eSales in Dollars to Break Even 4-5\u003c\/p\u003e \u003cp\u003eWhat Happens After Break-Even Analysis? 4-6\u003c\/p\u003e \u003cp\u003e4.2 Cost-Volume-Profit (CVP) Analysis 4-8\u003c\/p\u003e \u003cp\u003eIt’s Graphic: Understanding CVP Relationships 4-9\u003c\/p\u003e \u003cp\u003eThe Relevant Range: Quite Relevant 4-10\u003c\/p\u003e \u003cp\u003eMargin of Safety 4-10\u003c\/p\u003e \u003cp\u003e4.3 Break-Even with Target Profit and Taxes 4-12\u003c\/p\u003e \u003cp\u003eModifying the Break-Even to Include Target Profit 4-12\u003c\/p\u003e \u003cp\u003eModifying the Break-Even to Include Target Profit After[1]Tax 4-13\u003c\/p\u003e \u003cp\u003e4.4 Break-Even with Multiple Products 4-14\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Big Data for Bigger Sales 4-15\u003c\/p\u003e \u003cp\u003e4.5 Operating Leverage and Sensitivity Analysis 4-17\u003c\/p\u003e \u003cp\u003eSensitivity Analysis Shows the Effects of Operating Leverage 4-17\u003c\/p\u003e \u003cp\u003eUsing the Degree of Operating Leverage Multiplier 4-18\u003c\/p\u003e \u003cp\u003e4.6 CVP Analysis for Service and Nonprofit Organizations 4-21\u003c\/p\u003e \u003cp\u003eData Analytics in Action: More Service, Fewer Costs 4-21\u003c\/p\u003e \u003cp\u003eData Analytics Activities 4-35\u003c\/p\u003e \u003cp\u003e\u003cb\u003e5 Relevant Costs for the Decision\u003cb\u003e[1]\u003c\/b\u003eMaker 5-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e5.1 Decision-Making Made Easier 5-2\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Don’t Succumb to Analysis Paralysis 5-2\u003c\/p\u003e \u003cp\u003e5.2 What Are Relevant Costs and Relevant Information? 5-4\u003c\/p\u003e \u003cp\u003eHow Relevant Information Supports Decision-Making 5-4\u003c\/p\u003e \u003cp\u003eSunk Costs 5-5\u003c\/p\u003e \u003cp\u003eThe Total Cost Approach versus the Relevant Cost Approach 5-6\u003c\/p\u003e \u003cp\u003e5.3 Management Decisions Requiring Use of Relevant Costs 5-7\u003c\/p\u003e \u003cp\u003eInsource versus Outsource 5-7\u003c\/p\u003e \u003cp\u003eKeep versus Drop 5-11\u003c\/p\u003e \u003cp\u003eExcel Tutorial: Goal Seek 5-12\u003c\/p\u003e \u003cp\u003eProduct-Mix Decisions 5-14\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Tasty, Fast, or Both? 5-15\u003c\/p\u003e \u003cp\u003eExcel Tutorial: Solver 5-17\u003c\/p\u003e \u003cp\u003eSpecial Orders 5-20\u003c\/p\u003e \u003cp\u003e5.4 Decision-Making and Opportunity Costs 5-22\u003c\/p\u003e \u003cp\u003e5.5 Fixed Costs and Decision-Making 5-25\u003c\/p\u003e \u003cp\u003eDirect Fixed Costs 5-25\u003c\/p\u003e \u003cp\u003eCommon Fixed Costs 5-26\u003c\/p\u003e \u003cp\u003eAllocated Fixed Costs 5-27\u003c\/p\u003e \u003cp\u003eData Analytics Activities 5-44\u003c\/p\u003e \u003cp\u003e\u003cb\u003e6 Mastering the Master Budget 6-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e6.1 Why Budget? 6-2\u003c\/p\u003e \u003cp\u003eBudgeting and Behavior Modification 6-2\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Budgeting Made Fun? 6-2\u003c\/p\u003e \u003cp\u003eTypes of Budgets 6-3\u003c\/p\u003e \u003cp\u003eBudgeting and Ethical Considerations 6-5\u003c\/p\u003e \u003cp\u003e6.2 The Master Budget 6-7\u003c\/p\u003e \u003cp\u003eRevisiting the Strategic Planning Process 6-7\u003c\/p\u003e \u003cp\u003eOrganizational Structure and Responsibility Centers 6-8\u003c\/p\u003e \u003cp\u003eThe Master Budget Inputs and Outputs 6-10\u003c\/p\u003e \u003cp\u003eFollow-Up and Feedback 6-11\u003c\/p\u003e \u003cp\u003e6.3 The Operating Budget and the Budgeted Income Statement 6-12\u003c\/p\u003e \u003cp\u003eSales Forecast: It All Starts Here 6-13\u003c\/p\u003e \u003cp\u003eProduction Budget 6-14\u003c\/p\u003e \u003cp\u003eDirect Materials Purchases Budget 6-16\u003c\/p\u003e \u003cp\u003eDirect Labor Budget 6-17\u003c\/p\u003e \u003cp\u003eManufacturing Overhead Budget 6-18\u003c\/p\u003e \u003cp\u003eCost of Goods Sold and Cost of Goods Manufactured Budgets 6-20\u003c\/p\u003e \u003cp\u003eSelling, General, and Administrative Expenses Budget 6-21\u003c\/p\u003e \u003cp\u003eNon-Operating Expenses Budget 6-23\u003c\/p\u003e \u003cp\u003e6.4 The Financial Budget and the Budgeted Balance Sheet 6-24\u003c\/p\u003e \u003cp\u003eBudgeted Inventory Balance 6-25\u003c\/p\u003e \u003cp\u003eCash Receipts, Cash Collections, and the Budgeted Accounts Receivable Balance 6-26\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Banks Expedite Loan Collections 6-27\u003c\/p\u003e \u003cp\u003eCash Disbursements and Budgeted Accounts Payable Balance 6-29\u003c\/p\u003e \u003cp\u003eBudgeted Cash Balance 6-31\u003c\/p\u003e \u003cp\u003e6.5 Budgeting in Retail and Service Organizations 6-35\u003c\/p\u003e \u003cp\u003eBudgeting for Retailers 6-35\u003c\/p\u003e \u003cp\u003eBudgeting for Service Providers and Nonprofit Organizations 6-36\u003c\/p\u003e \u003cp\u003eData Analytics Activities 6-57\u003c\/p\u003e \u003cp\u003e\u003cb\u003e7 Capital Budgeting Choices and Decisions 7-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e7.1 Capital Budgeting: The Point and the Context 7-2\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Using Data to Scout a Location 7-2\u003c\/p\u003e \u003cp\u003eThe Circle of Life of Businesses 7-2\u003c\/p\u003e \u003cp\u003eReturn on Investment (ROI) 7-4\u003c\/p\u003e \u003cp\u003e7.2 Elements of Capital Budgeting Decisions 7-6\u003c\/p\u003e \u003cp\u003eTimeliness 7-6\u003c\/p\u003e \u003cp\u003eTime Value of Money 7-7\u003c\/p\u003e \u003cp\u003eCash Flows: Lump Sums and Annuities 7-9\u003c\/p\u003e \u003cp\u003eDiscount Rate 7-13\u003c\/p\u003e \u003cp\u003eTax Rate 7-14\u003c\/p\u003e \u003cp\u003eDepreciation Tax Shield: Yes You Can! 7-15\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Data Informs Decision[1]Making 7-15\u003c\/p\u003e \u003cp\u003e7.3 Tools to Evaluate Capital Budgeting Choices 7-17\u003c\/p\u003e \u003cp\u003eNet Present Value (NPV): A Powerful Machine 7-17\u003c\/p\u003e \u003cp\u003eInternal Rate of Return (IRR) 7-20\u003c\/p\u003e \u003cp\u003ePayback Period 7-22\u003c\/p\u003e \u003cp\u003eAccounting Rate of Return (ARR) 7-24\u003c\/p\u003e \u003cp\u003eProfitability Index 7-25\u003c\/p\u003e \u003cp\u003e7.4 Sensitivity Analysis 7-27\u003c\/p\u003e \u003cp\u003e7.5 Making the Decision 7-29\u003c\/p\u003e \u003cp\u003e7.6 The Follow-Up 7-33\u003c\/p\u003e \u003cp\u003ePost-Investment Audit 7-33\u003c\/p\u003e \u003cp\u003ePerformance Evaluation 7-33\u003c\/p\u003e \u003cp\u003eData Analytics Activities 7-50\u003c\/p\u003e \u003cp\u003eTime Value of Money Tables 7-52\u003c\/p\u003e \u003cp\u003e\u003cb\u003e8 Job Costing Visualized 8-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8.1 Job Costing: An Overview 8-2\u003c\/p\u003e \u003cp\u003eDefining Jobs and Job Costing 8-2\u003c\/p\u003e \u003cp\u003eRevisiting Product Costs 8-2\u003c\/p\u003e \u003cp\u003eActual versus Normal Costing 8-4\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Is It Hot in Here? 8-4\u003c\/p\u003e \u003cp\u003eHow Job Costing Is Organized 8-6\u003c\/p\u003e \u003cp\u003e8.2 Actual and Applied Manufacturing Overhead 8-10\u003c\/p\u003e \u003cp\u003eAccounting for Actual and Applied Manufacturing Overhead 8-10\u003c\/p\u003e \u003cp\u003eCalculating Applied Manufacturing Overhead 8-12\u003c\/p\u003e \u003cp\u003eBudgeting Manufacturing Overhead for a Specific Job 8-13\u003c\/p\u003e \u003cp\u003e8.3 Putting It Together: Costing Jobs and Units 8-15\u003c\/p\u003e \u003cp\u003eCost Flows, Accounts, and Journal Entries 8-16\u003c\/p\u003e \u003cp\u003eYear-End Adjustments 8-22\u003c\/p\u003e \u003cp\u003eIncome Statement Impacts of Job Costing 8-23\u003c\/p\u003e \u003cp\u003e8.4 Job Costing and Decision-Making 8-26\u003c\/p\u003e \u003cp\u003eJob Costing’s Impacts on Decision 8-26\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Information or Invasion? 8-26\u003c\/p\u003e \u003cp\u003eEthical Considerations Related to Job Costing 8-27\u003c\/p\u003e \u003cp\u003e8.5 Job Costing in Service Organizations 8-30\u003c\/p\u003e \u003cp\u003eData Analytics Activities 8-51\u003c\/p\u003e \u003cp\u003e\u003cb\u003e9 Activity-Based Costing 9-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9.1 Traditional Job Costing and ABC Compared 9-1\u003c\/p\u003e \u003cp\u003eDrawbacks of Traditional Costing 9-2\u003c\/p\u003e \u003cp\u003eThe Advantage of Activity-Based Costing 9-3\u003c\/p\u003e \u003cp\u003eA Better Cost with Activity-Based Costing 9-4\u003c\/p\u003e \u003cp\u003eData Analytics in Action: A Sweet Outcome 9-5\u003c\/p\u003e \u003cp\u003e9.2 The Cost Hierarchy, Activities, and Cost Drivers 9-7\u003c\/p\u003e \u003cp\u003eIdentifying Activities as Cost Pools 9-7\u003c\/p\u003e \u003cp\u003eCost Drivers 9-9\u003c\/p\u003e \u003cp\u003eThe Cost Hierarchy 9-10\u003c\/p\u003e \u003cp\u003e9.3 Using Activity-Based Costing for Product Costing 9-13\u003c\/p\u003e \u003cp\u003eStep 1: Identify Direct Costs 9-14\u003c\/p\u003e \u003cp\u003eStep 2: Identify Activities and Cost Drivers 9-15\u003c\/p\u003e \u003cp\u003eStep 3: Calculate Cost Driver Rates and Assign MOH 9-15\u003c\/p\u003e \u003cp\u003eStep 4: Record MOH Costs 9-16\u003c\/p\u003e \u003cp\u003e9.4 Decision-Making Outcomes, Including Time-Driven Activity-Based Costing (TDABC) 9-19\u003c\/p\u003e \u003cp\u003eImpacts of Activity-Based Costing on Product and Service Costs 9-19\u003c\/p\u003e \u003cp\u003eWho Should Use Activity-Based Costing? 9-19\u003c\/p\u003e \u003cp\u003eBroader Outcomes of Using Activity-Based Costing 9-21\u003c\/p\u003e \u003cp\u003eTime-Driven Activity-Based Costing: A Time-Saving Alternative 9-22\u003c\/p\u003e \u003cp\u003eData Analytics in Action: An Impressive By[1]Product 9-24\u003c\/p\u003e \u003cp\u003eData Analytics Activities 9-43\u003c\/p\u003e \u003cp\u003e\u003cb\u003e10 Variance Analysis and Standard Costing 10-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10.1 A Variety of Purposes for Budgets and Variance Analysis 10-2\u003c\/p\u003e \u003cp\u003eMotivate and Benchmark 10-2\u003c\/p\u003e \u003cp\u003ePlan and Control 10-3\u003c\/p\u003e \u003cp\u003eEvaluate Performance and Troubleshoot 10-4\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Process Improvements at Nike 10-4\u003c\/p\u003e \u003cp\u003e10.2 Master Budget and Flexible Budget Variances 10-6\u003c\/p\u003e \u003cp\u003eLimitations of the Master Budget 10-6\u003c\/p\u003e \u003cp\u003eThe Flexible Budget 10-7\u003c\/p\u003e \u003cp\u003e10.3 Standard Costing 10-11\u003c\/p\u003e \u003cp\u003eThe Purpose of Standard Costing 10-11\u003c\/p\u003e \u003cp\u003eSetting and Updating Standards 10-13\u003c\/p\u003e \u003cp\u003eData Analytics in Action: A New Way of Checking Out the Competition 10-13\u003c\/p\u003e \u003cp\u003e10.4 Direct Materials and Direct Labor Variances 10-15\u003c\/p\u003e \u003cp\u003eOverview of Production Variances 10-16\u003c\/p\u003e \u003cp\u003eDirect Materials Variances 10-17\u003c\/p\u003e \u003cp\u003eDirect Labor Variances 10-22\u003c\/p\u003e \u003cp\u003e10.5 Variable-MOH and Fixed-MOH with Journal Entries 10-24\u003c\/p\u003e \u003cp\u003eVariable-MOH: Price and Efficiency Variances 10-24\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Calculate All the Variances 10-24\u003c\/p\u003e \u003cp\u003eFixed-MOH: Price and Volume Variances 10-26\u003c\/p\u003e \u003cp\u003eJournal Entries to Close Variances 10-28\u003c\/p\u003e \u003cp\u003e10.6 Sales Variances 10-31\u003c\/p\u003e \u003cp\u003eMaster Budget Sales Variances: Sales Price Variance and Simplified Sales Activity Variance 10-31\u003c\/p\u003e \u003cp\u003eComprehensive Sales Activity Variance: Sales Mix Variance and Sales Quantity Variance 10-33\u003c\/p\u003e \u003cp\u003eSales Quantity Variance: Market Size Variance and Market Share 10-38\u003c\/p\u003e \u003cp\u003e\u003cb\u003e11 Process Costing 11-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e11.1 Process Costing: An Overview 11-2\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Mining Data for Mining Real 11-3\u003c\/p\u003e \u003cp\u003eJob Costing versus Process Costing 11-3\u003c\/p\u003e \u003cp\u003eThe Importance of Determining WIP Inventory Correctly 11-4\u003c\/p\u003e \u003cp\u003eThe Steps of Process Costing 11-5\u003c\/p\u003e \u003cp\u003e11.2 Step 1: Verify Physical Units in the Period and Identify Degree of Completion 11-7\u003c\/p\u003e \u003cp\u003eNo Beginning or Ending WIP Inventory 11-7\u003c\/p\u003e \u003cp\u003eWith Only Ending WIP Inventory 11-8\u003c\/p\u003e \u003cp\u003eWith Beginning and Ending WIP Inventory 11-8\u003c\/p\u003e \u003cp\u003e11.3 Step 2: Determine Status of Physical Units and Convert to Equivalent Units 11-13\u003c\/p\u003e \u003cp\u003eUsing the FIFO Method to Determine Status of Physical Units 11-14\u003c\/p\u003e \u003cp\u003eUsing the Weighted-Average Method to Determine Status of Physical Units 11-15\u003c\/p\u003e \u003cp\u003e11.4 Steps 3 and 4: Account for Costs and Calculate Cost per Equivalent Unit 11-17\u003c\/p\u003e \u003cp\u003eUsing the FIFO Method to Calculate Cost per Equivalent Unit 11-18\u003c\/p\u003e \u003cp\u003eUsing the Weighted-Average Method to Calculate Cost per Equivalent Unit 11-18\u003c\/p\u003e \u003cp\u003e11.5 Step 5: Assign Costs to WIP Inventory and FG Inventory with Journal Entries 11-21\u003c\/p\u003e \u003cp\u003eAssigning Costs Using the FIFO Method with Corresponding Journal Entries 11-22\u003c\/p\u003e \u003cp\u003eAssigning Costs Using the Weighted-Average Method with Corresponding Journal Entries 11-24\u003c\/p\u003e \u003cp\u003eApplications of Determining Product Costs 11-25\u003c\/p\u003e \u003cp\u003e11.6 Costs Transferred-In from Another Department 11-26\u003c\/p\u003e \u003cp\u003eTransferred-In Costs Using the FIFO Method 11-26\u003c\/p\u003e \u003cp\u003eTransferred-In Costs Using the Weighted-Average Method 11-29\u003c\/p\u003e \u003cp\u003e11.7 Operation Costing 11-31\u003c\/p\u003e \u003cp\u003eData Analytics Activities 11-51\u003c\/p\u003e \u003cp\u003e\u003cb\u003e12 Absorption versus Variable Costing 12-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e12.1 Absorption Costing: An Overview 12-2\u003c\/p\u003e \u003cp\u003eThe Purpose of Absorption Costing and How It Works 12-3\u003c\/p\u003e \u003cp\u003eManagement Decision-Making and Absorption Costing 12-6\u003c\/p\u003e \u003cp\u003eData Analytics in Action: This Machine Is Learning! 12-7\u003c\/p\u003e \u003cp\u003eBalance Sheet and Income Statement Impacts of Absorption Costing 12-8\u003c\/p\u003e \u003cp\u003e12.2 Variable Costing: An Overview 12-10\u003c\/p\u003e \u003cp\u003eThe Purpose of Variable Costing and How It Works 12-10\u003c\/p\u003e \u003cp\u003eBalance Sheet and Income Statement Impacts of Variable Costing 12-11\u003c\/p\u003e \u003cp\u003e12.3 Side-by-Side: Comparing Absorption Costing and Variable Costing 12-13\u003c\/p\u003e \u003cp\u003eThe Two Methods Compared: Inventory Costs and Balance Sheet Impacts 12-13\u003c\/p\u003e \u003cp\u003eThe Two Methods Compared: COGS, Operating Income, and Income Statement Impacts 12-14\u003c\/p\u003e \u003cp\u003e12.4 Determining Denominator Volumes for Fixed[1]MOH 12-17\u003c\/p\u003e \u003cp\u003eManaging Capacity 12-18\u003c\/p\u003e \u003cp\u003eDenominator Volume Choices 12-18\u003c\/p\u003e \u003cp\u003eFurther Outcomes of Denominator Decisions 12-20\u003c\/p\u003e \u003cp\u003e\u003cb\u003e13 Data Analytics 13-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e13.1 Big Data? Data Analytics? Challenges and Opportunities 13-2\u003c\/p\u003e \u003cp\u003eOverview of Data 13-2\u003c\/p\u003e \u003cp\u003eBig Data and Data Analytics in Cost Accounting 13-3\u003c\/p\u003e \u003cp\u003eChallenges and Opportunities 13-3\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Meeting the Challenges 13-4\u003c\/p\u003e \u003cp\u003e13.2 Sourcing and Storing Data 13-6\u003c\/p\u003e \u003cp\u003eThe Role of Data Analytics in Decision-Making 13-6\u003c\/p\u003e \u003cp\u003eData Sources and Data Storage 13-7\u003c\/p\u003e \u003cp\u003eThe Cost of Data and Its Ethical Considerations 13-10\u003c\/p\u003e \u003cp\u003eData Analytics in Action: When Data Is Especially Costly 13-11\u003c\/p\u003e \u003cp\u003e13.3 Categories of Data Analytics Techniques 13-13\u003c\/p\u003e \u003cp\u003eOverview of Data Analytics Categories 13-14\u003c\/p\u003e \u003cp\u003eDescriptive Analytics 13-15\u003c\/p\u003e \u003cp\u003eDiagnostic Analytics 13-18\u003c\/p\u003e \u003cp\u003ePredictive Analytics 13-19\u003c\/p\u003e \u003cp\u003ePrescriptive Analytics 13-20\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Price Check on Aisle 3 13-20\u003c\/p\u003e \u003cp\u003e13.4 Your Role in Solving Business Problems with Data Analytics 13-23\u003c\/p\u003e \u003cp\u003eData Analytics Outcomes in Cost Accounting 13-23\u003c\/p\u003e \u003cp\u003eBeing Career-Ready 13-25\u003c\/p\u003e \u003cp\u003e\u003cb\u003e14 Support Department Costing 14-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e14.1 Support Department Costing: An Overview 14-1\u003c\/p\u003e \u003cp\u003eTypes of Support Departments and Their Costs 14-2\u003c\/p\u003e \u003cp\u003eAllocating Support Department Costs 14-4\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Keep or Drop? 14-5\u003c\/p\u003e \u003cp\u003eCost Allocation Bases for Support Departments 14-6\u003c\/p\u003e \u003cp\u003e14.2 Methods of Allocating Support Department Costs 14-8\u003c\/p\u003e \u003cp\u003eThe Direct Method Illustrated 14-8\u003c\/p\u003e \u003cp\u003eStep Method Illustrated 14-10\u003c\/p\u003e \u003cp\u003eReciprocal Method Illustrated 14-12\u003c\/p\u003e \u003cp\u003eExcel Tutorial: The Reciprocal Method 14-13\u003c\/p\u003e \u003cp\u003eComparing the Three Methods 14-16\u003c\/p\u003e \u003cp\u003eData Analytics in Action: This Call May Be Analyzed 14-16\u003c\/p\u003e \u003cp\u003e14.3 Allocating Common Costs and Bundled Revenues 14-20\u003c\/p\u003e \u003cp\u003eStand-Alone Cost Allocation Method 14-20\u003c\/p\u003e \u003cp\u003eIncremental Cost Allocation Method 14-21\u003c\/p\u003e \u003cp\u003eAllocating Revenue from Sales of Bundled Products\/Services 14-22\u003c\/p\u003e \u003cp\u003e\u003cb\u003e15 Joint Costs and Decision\u003cb\u003e[1]\u003c\/b\u003eMaking 15-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e15.1 Joint Costs: Description and Illustration 15-2\u003c\/p\u003e \u003cp\u003e15.2 Methods of Allocating Joint Costs 15-4\u003c\/p\u003e \u003cp\u003eSales Value at Split-Off Method 15-4\u003c\/p\u003e \u003cp\u003eNet Realizable Value (NRV) Method 15-5\u003c\/p\u003e \u003cp\u003ePhysical Quantities Method 15-6\u003c\/p\u003e \u003cp\u003eChoosing an Allocation Method 15-8\u003c\/p\u003e \u003cp\u003e15.3 Joint Costs and Decision-Making: Should We Sell or Process Further? 15-10\u003c\/p\u003e \u003cp\u003eRelevance of Joint Costs to Sell-or-Process-Further Decisions 15-10\u003c\/p\u003e \u003cp\u003eSell-or-Process-Further Decision Factors 15-10\u003c\/p\u003e \u003cp\u003eData Analytics in Action: More Fresh Options 15-11\u003c\/p\u003e \u003cp\u003eDecision-Making and Performance Evaluation 15-12\u003c\/p\u003e \u003cp\u003e15.4 A Decision: How Should We Account for By-Product and Scrap? 15-13\u003c\/p\u003e \u003cp\u003eBy-Products Revisited 15-13\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Analysis Reduces Waste 15-14\u003c\/p\u003e \u003cp\u003eThe Production Method 15-14\u003c\/p\u003e \u003cp\u003eThe Sales Method: By-Products and Scrap Recognized at Time of Sale 15-17\u003c\/p\u003e \u003cp\u003eProduction Method versus Sales Method 15-19\u003c\/p\u003e \u003cp\u003e\u003cb\u003e16 The Art and Science of Pricing to Optimize Revenue 16-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e16.1 Pricing: Art + Science + Psychology 16-2\u003c\/p\u003e \u003cp\u003eTruths About Pricing 16-2\u003c\/p\u003e \u003cp\u003eConsider the Context: Customers, Costs, and Competitors 16-3\u003c\/p\u003e \u003cp\u003e16.2 Special-Order Pricing: Be Opportunistic 16-5\u003c\/p\u003e \u003cp\u003eLowest Acceptable Special-Order Price 16-6\u003c\/p\u003e \u003cp\u003eRelationship to Relevant Costs for the Decision[1]Maker 16-7\u003c\/p\u003e \u003cp\u003e16.3 Cost-Plus Pricing: If You Can Sell the Plus, Charge It 16-9\u003c\/p\u003e \u003cp\u003eOverview of the Cost-Plus Method 16-10\u003c\/p\u003e \u003cp\u003eThe Calculation: A Starting Point 16-10\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Using Data to Set Prices 16-10\u003c\/p\u003e \u003cp\u003eComparing Special-Order Pricing to Cost-Plus Pricing 16-13\u003c\/p\u003e \u003cp\u003e16.4 Target Costing for Target Pricing—Backward but Brilliant 16-14\u003c\/p\u003e \u003cp\u003eSteps to Implement Target Costing for Target Pricing 16-15\u003c\/p\u003e \u003cp\u003eThe Value in Value Engineering 16-16\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Ensuring the Value of Business Activities 16-16\u003c\/p\u003e \u003cp\u003e16.5 Consumers and Pricing Practices 16-17\u003c\/p\u003e \u003cp\u003eConsumer Perceptions and Pricing 16-17\u003c\/p\u003e \u003cp\u003eOther Pricing Practices: Fair or Illegal? 16-18\u003c\/p\u003e \u003cp\u003eData Analytics in Action: No Free Parking 16-19\u003c\/p\u003e \u003cp\u003eData Analytics Activities 16-33\u003c\/p\u003e \u003cp\u003e\u003cb\u003e17 Management Control Systems and Transfer Pricing 17-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e17.1 The Need for an Effective Management Control System 17-2\u003c\/p\u003e \u003cp\u003eCentralized versus Decentralized Organizations 17-2\u003c\/p\u003e \u003cp\u003eGoal Congruence 17-4\u003c\/p\u003e \u003cp\u003eComponents of a Management Control System 17-5\u003c\/p\u003e \u003cp\u003e17.2 How Responsibility Centers Work 17-6\u003c\/p\u003e \u003cp\u003eCharacteristics of Responsibility Centers 17-6\u003c\/p\u003e \u003cp\u003eCost Centers 17-8\u003c\/p\u003e \u003cp\u003eRevenue Centers 17-9\u003c\/p\u003e \u003cp\u003eProfit Centers 17-10\u003c\/p\u003e \u003cp\u003eInvestment Centers 17-10\u003c\/p\u003e \u003cp\u003eData Analytics in Action: Major League Baseball Invests in Data 17-11\u003c\/p\u003e \u003cp\u003e17.3 How to Measure Performance of Investment Centers 17-13\u003c\/p\u003e \u003cp\u003eReturn on Investment and Its Components 17-13\u003c\/p\u003e \u003cp\u003eResidual Income (RI) 17-16\u003c\/p\u003e \u003cp\u003eEconomic Value Added (EVA®) 17-16\u003c\/p\u003e \u003cp\u003e17.4 Transfer Pricing: An Overview 17-18\u003c\/p\u003e \u003cp\u003eThe Genesis of Transfer Pricing 17-19\u003c\/p\u003e \u003cp\u003eDetermining the Optimal Transfer Price Range 17-21\u003c\/p\u003e \u003cp\u003eHow Companies Set Transfer Prices 17-23\u003c\/p\u003e \u003cp\u003eManagement and Transfer Pricing 17-27\u003c\/p\u003e \u003cp\u003eTransfer Pricing in Multinational Companies 17-28\u003c\/p\u003e \u003cp\u003e\u003cb\u003e18 Business Strategy, Performance Measurement, and the Balanced Scorecard 18-1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e18.1 An Overview of Business Strategy 18-1\u003c\/p\u003e \u003cp\u003eThe Strategic Planning Process 18-2\u003c\/p\u003e \u003cp\u003eA Closer Look at Business Strategy 18-3\u003c\/p\u003e \u003cp\u003e18.2 Performance Measurement Guides Performance 18-8\u003c\/p\u003e \u003cp\u003eCongruent Outcomes: Linking Business Strategy to Employees’ Objectives 18-8\u003c\/p\u003e \u003cp\u003eThe Performance Measurement Process 18-9\u003c\/p\u003e \u003cp\u003eTraits of Financial Performance Measures 18-12\u003c\/p\u003e \u003cp\u003eTraits of Nonfinancial Performance Measures 18-13\u003c\/p\u003e \u003cp\u003e18.3 Using the Balanced Scorecard to Assess Company Performance 18-15\u003c\/p\u003e \u003cp\u003eBalancing the Four Perspectives 18-16\u003c\/p\u003e \u003cp\u003eLinking Business Strategy to the Balanced Scorecard 18-17\u003c\/p\u003e \u003cp\u003eData Analytics in Action: New Measures and Targets 18-18\u003c\/p\u003e \u003cp\u003eEvaluating Success 18-20\u003c\/p\u003e \u003cp\u003eCompany Index I-1\u003c\/p\u003e \u003cp\u003eSubject Index I-0\u003c\/p\u003e \u003cp\u003eKey Formulas Review K-0\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49528862900567,"sku":"9781119731863","price":152.95,"currency_code":"GBP","in_stock":true}],"url":"https:\/\/bookcurl.com\/products\/cost-accounting-9781119731863","provider":"Book Curl","version":"1.0","type":"link"}