ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
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ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
MODULE 5 – CHAPTER 10 & 11 CHAPTER 10 – FUNDAMENTALS OF COST MANAGEMENT
Using Activity-Based Cost Management to Add Value
•Activity-based cost management: uses activity-based costing data to evaluate the cost of value-chain activities within the firm and identify opportunities for improvement
•Activity-Based Costing: a system used to assign costs to products based on the products’ use of activities, which are the discrete tasksan organization undertakes to make or deliver the product
•The value chain: the set of activities that transforms raw resources into products for customers
Value-added activities in the value chain are the things that customers will pay for
•To maximize profits, firms must manage activities and resources used to fund those activities to minimize costs while providing value for the customer
•Two benefits of implementing ABC and ABCM
o
Description
ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
MODULE 5 – CHAPTER 10 & 11 CHAPTER 10 – FUNDAMENTALS OF COST MANAGEMENT
Using Activity-Based Cost Management to Add Value
•Activity-based cost management: uses activity-based costing data to evaluate the cost of value-chain activities within the firm and identify opportunities for improvement
•Activity-Based Costing: a system used to assign costs to products based on the products’ use of activities, which are the discrete tasksan organization undertakes to make or deliver the product
•The value chain: the set of activities that transforms raw resources into products for customers
Value-added activities in the value chain are the things that customers will pay for
•To maximize profits, firms must manage activities and resources used to fund those activities to minimize costs while providing value for the customer
•Two benefits of implementing ABC and ABCM
oBetter information about product costs: this helps managers make decisions about pricing and whether to keep or drop products
oBetter information about the cost of activities and processes: this helps managers gain useful information that may have been hidden by the previous accounting system
Using Activity-Based Cost Information to Improve Processes
•The first step in ABCM is activity analysis. Activity analysis has 6 stepsoIdentify what the customer wants or expects from the firm’s products/services, including key features, price, and quality
oChart, from start to finish, the company’s activities for completing the product
ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
ACCT 521 COST ACCOUNTING School: Liberty University *Professor:Leah Lane, Atnhony Faiella, DR.HANN, ULLMER,B, Dr.Higgetts, MelanieH… Documents (367) Q&A (127) Textbook Exercises (20+) Most important docs of the week 7 pagesREFORMATION OF INSTRUMENTSREFORMATION OF INSTRUMENTS Liberty University COST ACCOUNTING
ACCT 521 – Spring 2014 Register Now REFORMATION OF INSTRUMENTS 17 pagesLanen HW ch10-11Lanen HW ch10-11 Liberty University COST ACCOUNTING
ACCT 521 – Spring 2014 Register Now Lanen HW ch10-11 47 pages331752071-Audit-Prob-Cash-and-Cash-Equivalents.docx331752071-Audit-Prob-Cash-and-Cash-Equivalents.docx Liberty University COST ACCOUNTING
ACCT 521 – Spring 2014 Register Now 331752071-Audit-Prob-Cash-and-Cash-Equivalents.docx 143 pagesLanen–Fundamentals of Cost Accounting 4eLanen–Fundamentals of Cost Accounting 4e Liberty University COST ACCOUNTING
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ACCT 521 – Spring 2014 Register Now rizal COST ACCOUNTING Documents All (367) Assignments (1) Essays (71) Homework Help (62) Lab Reports (1) Notes (22) Test Prep (5) Showing 1 to 30 of 367 Sort by: Most Popular 11 pagesACCT 521 exam 1 study guide .docxACCT 521 exam 1 study guide .docx Liberty University COST ACCOUNTING
ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
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ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
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ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
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ACCT 521 – Summer 2014 Register Now ACCT 521 HW 1 Problem 5 1 pagesDifferential Analysis to Drop Keep Customers Products.docxDifferential Analysis to Drop Keep Customers Products.docx Liberty University
ACCT 521 – Fall 2014 Register Now Differential Analysis to Drop Keep Customers Products.docx 9 pagesChapter 8Chapter 8 Liberty University Advanced Cost Accounting
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ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
ACCT 521 – Summer 2015 Register Now ACCT521_Forum1 1 pagesExercise 13-21 Estimate Sales Levels Using Production BudgetsExercise 13-21 Estimate Sales Levels Using Production Budgets Liberty University COST ACCOUNTING
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ACCT 521 – Summer 2015 Register Now Cost allocations comparison of dual and single rates problem 12-35 17 pagesLanen HW ch10-11Lanen HW ch10-11 Liberty University COST ACCOUNTING
ACCT 521 – Spring 2014 Register Now Lanen HW ch10-11 143 pagesLanen–Fundamentals of Cost Accounting 4eLanen–Fundamentals of Cost Accounting 4e Liberty University COST ACCOUNTING
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ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
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ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
ACCT 521 – Spring 2014 Register Now MODULE 4 – COST.docx Textbook Exercises Fundamentals of Cost Accounting image Fundamentals of Cost Accounting Ch 1, Section CDMD Cost Data for Managerial Decisions,
Exercise 1Ch 1, Section CDMD Cost Data for Managerial Decisions, Exercise 1Fundamentals of Cost Accounting Ch 2, Section HCFS How Costs Flow through the Statements, Exercise 1Income statement is made to get the operating profit of the year. For this purpose the cost of…
Fundamentals of Cost Accounting Ch 3, Section CVPA Cost-Volume-Profit Analysis, Exercise 1Calculation of the operating profit: It is calculated by total variable and fixed cost from the…Fundamentals of Cost Accounting Ch 4, Section DA Differential Analysis, Exercise 1
Calculation of the effect of the decision on the company’s operating profit: It is determined…Fundamentals of Cost Accounting Ch 5, Section WMECB What Methods Are Used to Estimate Cost Behavior?, Exercise 1The total variable cost is calculated by adding all the variable costs.
Calculate the average fixed…Fundamentals of Cost Accounting Ch 6, Section CPCPI Costing in a Single Product, Continuous Process Industry, Exercise 1The production of barrels started with 8,000 units and 8,000 units are in the finished goods. It…Fundamentals of Cost Accounting Ch 7, Section CCJ Computing the Cost of a Job,
Exercise 1Global explanation: Direct materials is debited to increase the materials balance since the…Fundamentals of Cost Accounting Ch 8, Section RTPCR Reporting This Information to Managers:
ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
The Production Cost Report, Exercise 1The equivalent unit of ending work-in-process ending inventory is calculated by multiplying the…Fundamentals of Cost Accounting Ch 9, Section RPCDM Reported Product Costs and Decision Making, Exercise 1In the given question, the manufacturing overhead has been increased by $100,800.
It means total…Fundamentals of Cost Accounting COST ACCOUNTING Tests Questions & Answers Showing 1 to 8 of 127 View all Gallatin Carpet Cleaning is a small, family-owned business operating out of Bozeman, Montana. For its services, the company has always charged a flat fee per 1 2 3 4 5 See photo below. 1 2 3 4 5
Hello, I am having issues with part (c) of this question. The overhead rates that I calculated for are 1.5 (for Variable Overhead rate) and 3.5 (For the fixed 1 2 3 4 5 Please help me answer the Cash flow indirect and direct method 1 2 3 4 5 Phyllis maintained an IRA account at the brokerage firm ABC.
On February 11 of the current year, she requested a check for the balance of her account. She 1 2 3 4 5 What is the difference between contribution margin and gross margin? 1 2 3 4 5 The Boxwood Machining Co. has the following information for last year: The partial productivity for labor is: 1 2 3 4 5
ACCT 521 ACCT521 ACCT/521 MODULE 5 – CHAPTER 10 & 11
The Majors Company collected the following information (in days): What is the manufacturing cycle efficiency? 1 2 3 4 5 Back to Department Related Courses ACCT 212 – Principles of Accounting II (742 Documents)ACCT 370 – (666 Documents)ACCT 211 – ? (626 Documents)ACCT 301 – Acct (571 Documents)
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