管理会计完整chapter_2ppt课件

CostsTerms,ConceptsandClassificationsChapterTwoWhycosts?AnimportantpartofinformationsystemAstrategyAnexample-----AirlinecompanyDifferentcostsfordifferentpurposes------costsusedinfinancialandmanagerialaccountingWholeorsegment?CostcompositionLearningObjective1Identifyandgiveexamplesofeachofthethreebasicmanufacturingcostcategories.TheProductManufacturingCostsDirectMaterialsRawmaterialsthatbecomeanintegralpartoftheproductandthatcanbeconvenientlyanddirectlytracedtoit.Example:AradioinstalledinanautomobileDirectLaborThoselaborcoststhatcanbeeasilytracedtoindividualunitsofproduct.Example:WagespaidtoautomobileassemblyworkersManufacturingcoststhatcannotbetracedconvenientlyanddirectlytospecificunitsproduced.ManufacturingOverheadIndirectmaterials,indirectlabor,andothermanufacturingoverheadNon-manufacturingCostsCostClassificationsLearningObjective2Distinguishbetweenproductcostsandperiodcostsandgiveexamplesofeach.MatchingPrinciple-----basedonAccrualaccountingCostsincurredtogenerateaparticularrevenueshouldberecognizedasexpensesinthesameperiodthattherevenueisrecognized.Economiceventsarerecognizedbymatchingrevenuestoexpenses(thematchingprinciple) atthetimeinwhichthetransaction occursratherthanwhenpaymentismade(orreceived).ProductCostsVersusPeriodCostsProductcostsincludedirectmaterials,directlabor,andmanufacturingoverhead.Periodcostsincludeallsellingcostsandadministrativecosts.QuickCheckWhichofthefollowingcostswouldbeconsideredaperiodratherthanaproductcostinamanufacturingcompany?A.Manufacturingequipmentdepreciation.B.Propertytaxesoncorporateheadquarters.C.Directmaterialscosts.D.Electricalcoststolighttheproductionfacility.E.Salescommissions.QuickCheckWhichofthefollowingcostswouldbeconsideredaperiodratherthanaproductcostinamanufacturingcompany?A.Manufacturingequipmentdepreciation.B.Propertytaxesoncorporateheadquarters.C.Directmaterialscosts.D.Electricalcoststolighttheproductionfacility.E.Salescommissions.ClassificationsofCostsDirectMaterialDirectLaborManufacturingOverheadManufacturingcostsareoftenclassifiedasfollows:ComparingMerchandisingandManufacturingActivitiesMerchandisers...Buyfinishedgoods.Sellfinishedgoods.Manufacturers...Buyrawmaterials.Produceandsellfinishedgoods.BalanceSheetMerchandiserCurrentassetsCashReceivablesPrepaidExpensesMerchandiseInventoryManufacturerCurrentAssetsCashReceivablesPrepaidExpensesInventoriesRawMaterialsWorkinProcessFinishedGoodsMerchandiserCurrentassetsCashReceivablesPrepaidExpensesMerchandiseInventoryManufacturerCurrentAssetsCashReceivablesPrepaidExpensesInventoriesRawMaterialsWorkinProcessFinishedGoodsBalanceSheetLearningObjective3Prepareanincomestatementincludingcalculationofthecostofgoodssold.TheIncomeStatementCostofgoodssoldformanufacturersdiffersonlyslightlyfromcostofgoodssoldformerchandisers.BasicEquationforInventoryAccountsQuickCheckIfyourinventorybalanceatthebeginningofthemonthwas$1,000,youbought$100duringthemonth,andsold$300duringthemonth,whatwouldbethebalanceattheendofthemonth?A.$1,000.B.$800.C.$1,200.D.$200.QuickCheckIfyourinventorybalanceatthebeginningofthemonthwas$1,000,youbought$100duringthemonth,andsold$300duringthemonth,whatwouldbethebalanceattheendofthemonth?A.$1,000.B.$800.C.$1,200.D.$200.$1,000+$100=$1,100$1,100-$300=$800LearningObjective4Prepareascheduleofcostofgoodsmanufactured.ScheduleofCostofGoodsManufacturedCalculatesthecostofrawmaterial,directlaborandmanufacturingoverheadusedinproduction.Calculatesthemanufacturingcostsassociatedwithgoodsthatwerefinishedduringtheperiod.Asitemsareremovedfromrawmaterialsinventoryandplacedintotheproductionprocess,theyarecalleddirectmaterials.ProductCostFlowsProductCostFlowsProductCostFlowsAllmanufacturingcostsincurredduringtheperiodareaddedtothebeginningbalanceofworkinprocess.ProductCostFlowsCostsassociatedwiththegoodsthatarecompletedduringtheperiodaretransferredtofinishedgoodsinventory.ProductCostFlowsManufacturingCostFlowsBalanceSheetCostsInventoriesIncomeStatementExpensesCostThe$100listedonthebalancesheetasaninventoryExpenseThe$100expenseduntilthefinishedgoodsaresoldthataremadeoftherawmaterialPayoutPay$100forRawMaterialQuickCheckBeginningrawmaterialsinventorywas$32,000.Duringthemonth,$276,000ofrawmaterialwaspurchased.Acountattheendofthemonthrevealedthat$28,000ofrawmaterialwasstillpresent.Whatisthecostofdirectmaterialused?A.$276,000B.$272,000C.$280,000D.$2,000QuickCheckDirectmaterialsusedinproductiontotaled$280,000.Directlaborwas$375,000andfactoryoverheadwas$180,000.Whatweretotalmanufacturingcostsincurredforthemonth?A.$555,000B.$835,000C.$655,000D.Cannotbedetermined.QuickCheckBeginningworkinprocesswas$125,000.Manufacturingcostsincurredforthemonthwere$835,000.Therewere$200,000ofpartiallyfinishedgoodsremaininginworkinprocessinventoryattheendofthemonth.Whatwasthecostofgoodsmanufacturedduringthemonth?A.$1,160,000B.$910,000C.$760,000D.Cannotbedetermined.QuickCheckBeginningfinishedgoodsinventorywas$130,000.Thecostofgoodsmanufacturedforthemonthwas$760,000.Andtheendingfinishedgoodsinventorywas$150,000.Whatwasthecostofgoodssoldforthemonth?A.$20,000.B.$740,000.C.$780,000.D.$760,000.LearningObjective5Understandthedifferencesbetweenvariablecostsandfixedcosts.CostClassificationsforPredictingCostBehaviorHowacostwillreacttochangesinthelevelofactivitywithintherelevantrange.Totalvariablecostschangewhenactivitychanges.Totalfixedcostsremainunchangedwhenactivitychanges.VariableCostYourtotallongdistancetelephonebillisbasedonhowmanyminutesyoutalk.VariableCostPerUnitThecostperlongdistanceminutetalkedisconstant.FixedCostYourmonthlybasictelephonebillprobablydoesnotchangewhenyoumakemorelocalcalls.FixedCostPerUnitTheaveragefixedcostperlocalcalldecreasesasmorelocalcallsaremade.CostClassificationsforPredictingCostBehaviorImportanceofunderstandingcostbehaviorFoodcostsatahotelAhammercosts$1,000QuickCheckWhichofthefollowingcostswouldbevariablewithrespecttothenumberofconessoldataBaskins&Robbinsshop?(Theremaybemorethanonecorrectanswer.)A.Thecostoflightingthestore.B.Thewagesofthestoremanager.C.Thecostoficecream.D.Thecostofnapkinsforcustomers.QuickCheckWhichofthefollowingcostswouldbevariablewithrespecttothenumberofconessoldataBaskins&Robbinsshop?(Theremaybemorethanonecorrectanswer.)A.Thecostoflightingthestore.B.Thewagesofthestoremanager.C.Thecostoficecream.D.Thecostofnapkinsforcustomers.LearningObjective6Understandthedifferencesbetweendirectandindirectcosts.CostObjectAnythingforwhichcostdataaredesired.Examples:products,customers,jobs,organizationalsubunits,etc.AssigningCoststoCostObjectsDirectcostsCoststhatcanbeeasilyandconvenientlytracedtoaunitofproductorothercostobject.Examples:directmaterialanddirectlaborIndirectcostsCoststhatcannotbeeasilyandconvenientlytracedtoaunitofproductorothercostobject.Example:manufacturingoverheadCommoncostAcostthatisincurredtosupportanumberofcostobjectsbutcannotbetracedtothemindividually.AnExample-----AtradewithDODLearningObjective7Defineandgiveexamplesofcostclassificationsusedinmakingdecisions:differentialcosts,opportunitycosts,andsunkcosts.Everydecisioninvolvesachoicebetweenatleasttwoalternatives.Onlythosecostsandbenefitsthatdifferbetweenalternativesarerelevantinadecision.Allothercostsandbenefitscanandshouldbeignored.CostClassificationsforDecisionMakingDifferentialCostandRevenueCostsandrevenuesthatdifferamongalternatives.Example:Youhaveajobpaying$1,500permonthinyourhometown.Youhaveajobofferinaneighboringcitythatpays$2,000permonth.Thecommutingcosttothecityis$300permonth.Differentialrevenueis:$2,000–$1,500=$500Differentialcostis:$300OpportunityCostThepotentialbenefitthatisgivenupwhenonealternativeisselectedoveranother.Example:Ifyouwerenotattendingcollege,youcouldbeearningRMB100,000peryear.YouropportunitycostofattendingcollegeforoneyearisRMB100,000.SunkCostsSunkcostshavealreadybeenincurredandcannotbechangednoworinthefuture.Theyshouldbeignoredwhenmakingdecisions.Example:Youboughtanautomobilethatcost$10,000twoyearsago.The$10,000costissunkbecausewhetheryoudriveit,parkit,tradeit,orsellit,youcannotchangethe$10,000cost.QuickCheckSupposeyouaretryingtodecidewhethertodriveortakethetraintoPortlandtoattendaconcert.Youhaveamplecashtodoeither,butyoudon’twanttowastemoneyneedlessly.Isthecostofthetrainticketrelevantinthisdecision?Inotherwords,shouldthecostofthetrainticketaffectthedecisionofwhetheryoudriveortakethetraintoPortland?A.Yes,thecostofthetrainticketisrelevant.B.No,thecostofthetrainticketisnotrelevant.QuickCheckSupposeyouaretryingtodecidewhethertodriveortakethetraintoPortlandtoattendaconcert.Youhaveamplecashtodoeither,butyoudon’twanttowastemoneyneedlessly.Isthecostofthetrainticketrelevantinthisdecision?Inotherwords,shouldthecostofthetrainticketaffectthedecisionofwhetheryoudriveortakethetraintoPortland?A.Yes,thecostofthetrainticketisrelevant.B.No,thecostofthetrainticketisnotrelevant.QuickCheckSupposeyouaretryingtodecidewhethertodriveortakethetraintoPortlandtoattendaconcert.Youhaveamplecashtodoeither,butyoudon’twanttowastemoneyneedlessly.Istheannualcostoflicensingyourcarrelevantinthisdecision?A.Yes,thelicensingcostisrelevant.B.No,thelicensingcostisnotrelevant.QuickCheckSupposeyouaretryingtodecidewhethertodriveortakethetraintoPortlandtoattendaconcert.Youhaveamplecashtodoeither,butyoudon’twanttowastemoneyneedlessly.Istheannualcostoflicensingyourcarrelevantinthisdecision?A.Yes,thelicensingcostisrelevant.B.No,thelicensingcostisnotrelevant.QuickCheckSupposethatyourcarcouldbesoldnowfor$5,000.Isthisasunkcost?A.Yes,itisasunkcost.B.No,itisnotasunkcost.QuickCheckSupposethatyourcarcouldbesoldnowfor$5,000.Isthisasunkcost?A.Yes,itisasunkcost.B.No,itisnotasunkcost.SummaryoftheTypesofCostClassificationsFinancialreportingPredictingcostbehaviorAssigningcoststocostobjectsDecisionmakingEndofChapter2