{"product_id":"cost-accounting-for-dummies-isbn-9781119856023","title":"Cost Accounting For Dummies","description":"\u003cp\u003e\u003cb\u003eTake control of overhead, budgeting, and profitability with cost accounting\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eCost accounting is one of the most important skills in business, and its popularity as a course in undergraduate and graduate business and management programs speaks to its usefulness. But if you’ve ever felt intimidated by the subject’s jargon or concepts, you can stop worrying. Cost accounting is for everyone! \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eCost Accounting For Dummies\u003c\/i\u003e, you’ll be taken step-by-step through the basic and advanced topics found in a typical cost accounting class, from how to define costs and how to allocate them to products or services. You’ll learn how to determine if a capital expenditure is worth it and how to design a budget model that forecasts changes in costs based on activity levels. \u003c\/p\u003e\u003cp\u003eWhether you’re a student in your first cost accounting course or a professional trying to get a grip on your books, you’ll benefit from: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eSimple methods to evaluate business risks and rewards\u003c\/li\u003e \u003cli\u003eExplanations of how to manage and control costs during periods of business change and pivots\u003c\/li\u003e \u003cli\u003eDescriptions of how to use cost accounting to price IT projects\u003c\/li\u003e\n\u003c\/ul\u003e\u003cp\u003e\u003ci\u003eCost Accounting For Dummies\u003c\/i\u003e is the gold standard in getting a firm grasp on the challenging and rewarding world of cost accounting. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eIntroduction 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAbout This Book 1\u003c\/p\u003e \u003cp\u003eFoolish Assumptions 2\u003c\/p\u003e \u003cp\u003eIcons Used in This Book 2\u003c\/p\u003e \u003cp\u003eBeyond the Book 3\u003c\/p\u003e \u003cp\u003eWhere to Go from Here 3\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 1: Understanding the Fundamentals of Costs\u003c\/b\u003e \u003cb\u003e5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: So You Want to Know about Cost Accounting\u003c\/b\u003e \u003cb\u003e7\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eComparing Accounting Methods 8\u003c\/p\u003e \u003cp\u003eConsidering your shareholders 8\u003c\/p\u003e \u003cp\u003eMulling over creditors 9\u003c\/p\u003e \u003cp\u003eAddressing concerns of regulators 9\u003c\/p\u003e \u003cp\u003eUsing management accounting 9\u003c\/p\u003e \u003cp\u003eFitting in cost accounting 10\u003c\/p\u003e \u003cp\u003eUsing Cost Accounting to Your Advantage 11\u003c\/p\u003e \u003cp\u003eStarting with cost-benefit analysis 11\u003c\/p\u003e \u003cp\u003ePlanning your work: Budgeting 12\u003c\/p\u003e \u003cp\u003eControlling your costs 12\u003c\/p\u003e \u003cp\u003eSetting a price 13\u003c\/p\u003e \u003cp\u003eImproving going forward 14\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: Brushing Up on Cost Accounting Basics\u003c\/b\u003e \u003cb\u003e17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding the Big Four Terms 17\u003c\/p\u003e \u003cp\u003eComparing direct and indirect costs 18\u003c\/p\u003e \u003cp\u003eMulling over fixed and variable costs 20\u003c\/p\u003e \u003cp\u003eFitting the costs together 21\u003c\/p\u003e \u003cp\u003eCovering Costs in Different Industries 22\u003c\/p\u003e \u003cp\u003eReviewing manufacturing costs 22\u003c\/p\u003e \u003cp\u003eConsidering costs for retailers 23\u003c\/p\u003e \u003cp\u003eAdding up costs for e-commerce firms 23\u003c\/p\u003e \u003cp\u003eFinding costs most companies incur 24\u003c\/p\u003e \u003cp\u003eWhy Are You Spending? Cost Drivers 25\u003c\/p\u003e \u003cp\u003ePushing equipment too hard and relevant range 25\u003c\/p\u003e \u003cp\u003ePreviewing inventoriable costs 26\u003c\/p\u003e \u003cp\u003eFollowing the Rules of the Cost Accounting Road 27\u003c\/p\u003e \u003cp\u003eUnderstanding generally accepted accounting principles (GAAP) 27\u003c\/p\u003e \u003cp\u003eDeciding on accrual basis or cash basis 29\u003c\/p\u003e \u003cp\u003eFinishing with conservatism 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Using Cost-Volume-Profit Analysis to Plan Your Business Results\u003c\/b\u003e \u003cb\u003e31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding How Cost-Volume-Profit Analysis Works 32\u003c\/p\u003e \u003cp\u003eCalculating the breakeven point 32\u003c\/p\u003e \u003cp\u003eFinancial losses: The crash of your cash 34\u003c\/p\u003e \u003cp\u003eContribution margin: Covering fixed costs 35\u003c\/p\u003e \u003cp\u003eLowering the breakeven point to reach profitability sooner 36\u003c\/p\u003e \u003cp\u003eTarget net income: Setting the profit goal 37\u003c\/p\u003e \u003cp\u003eUsing operating leverage 38\u003c\/p\u003e \u003cp\u003eAssessing e-commerce businesses 40\u003c\/p\u003e \u003cp\u003eTiming is everything when it comes to costs 41\u003c\/p\u003e \u003cp\u003eUsing Cost-Volume-Profit Analysis to Make Savvy Business Decisions 42\u003c\/p\u003e \u003cp\u003eDeciding to advertise 43\u003c\/p\u003e \u003cp\u003eLowering your price without losing your profit 44\u003c\/p\u003e \u003cp\u003eCombining the results of two products 45\u003c\/p\u003e \u003cp\u003eCosting and pricing a new product 48\u003c\/p\u003e \u003cp\u003eThe Tax Man Cometh, the Profits Goeth 51\u003c\/p\u003e \u003cp\u003eUnderstanding pre-tax dollars 51\u003c\/p\u003e \u003cp\u003eAdjusting target net income for income taxes 52\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Estimating Costs with Job Costing\u003c\/b\u003e \u003cb\u003e53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding How Job Costing Works 54\u003c\/p\u003e \u003cp\u003eCost objects: The sponges that absorb money 55\u003c\/p\u003e \u003cp\u003eCharging customers for direct and indirect costs 56\u003c\/p\u003e \u003cp\u003eImplementing job costing in manufacturing: An example 57\u003c\/p\u003e \u003cp\u003eDeciding on costing for IT consulting projects 61\u003c\/p\u003e \u003cp\u003eTaking a Closer Look at Indirect Costs using Normal Costing 64\u003c\/p\u003e \u003cp\u003eBudgeting for indirect costs 65\u003c\/p\u003e \u003cp\u003eFollowing a normal job costing system 66\u003c\/p\u003e \u003cp\u003eFollowing the Flow of Costs through a Manufacturing System 67\u003c\/p\u003e \u003cp\u003eControl starts with control accounts 67\u003c\/p\u003e \u003cp\u003eExplaining the debit and credit process 68\u003c\/p\u003e \u003cp\u003eWalking through a manufacturing cost example 70\u003c\/p\u003e \u003cp\u003eApplying the methodology to other control accounts 73\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: More Activity, More Cost: Activity-Based Costing\u003c\/b\u003e \u003cb\u003e75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAvoiding the Slippery Peanut Butter Costing Slope 76\u003c\/p\u003e \u003cp\u003eRecognizing a single indirect cost allocation 77\u003c\/p\u003e \u003cp\u003eA fly in the peanut butter: Dealing with different levels of client activity 77\u003c\/p\u003e \u003cp\u003eMissing the mark: Undercosting and overcosting 79\u003c\/p\u003e \u003cp\u003eDesigning an Activity-Based Costing System 81\u003c\/p\u003e \u003cp\u003eRefining your approach 81\u003c\/p\u003e \u003cp\u003eGrouping costs using a cost hierarchy 82\u003c\/p\u003e \u003cp\u003eTesting your ABC design 83\u003c\/p\u003e \u003cp\u003eUsing Activity-Based Costing to Compute Total Cost, Profit, and Sale Price 87\u003c\/p\u003e \u003cp\u003eAllocating indirect costs evenly by product 88\u003c\/p\u003e \u003cp\u003eAnalyzing and reallocating cost activities 88\u003c\/p\u003e \u003cp\u003eChanging allocations to cost pools 89\u003c\/p\u003e \u003cp\u003eChanging prices after ABC 90\u003c\/p\u003e \u003cp\u003eImplementing ABC Costing for a Business Pivot 91\u003c\/p\u003e \u003cp\u003eDeciding whether to pivot 92\u003c\/p\u003e \u003cp\u003eMulling over a pivot example 93\u003c\/p\u003e \u003cp\u003eUsing ABC Costing for a New Business Model 94\u003c\/p\u003e \u003cp\u003eConsidering sunk costs 94\u003c\/p\u003e \u003cp\u003eReviewing food and labor costs 95\u003c\/p\u003e \u003cp\u003eAllocating new overhead costs 95\u003c\/p\u003e \u003cp\u003eApplying ABC costing to overhead costs 96\u003c\/p\u003e \u003cp\u003eEvaluating your results 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2: Planning and Control 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: What’s the Plan, Stan? Budgeting for a Better Bottom Line\u003c\/b\u003e \u003cb\u003e101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBrushing Up on Budgeting Basics 102\u003c\/p\u003e \u003cp\u003eSeeing the master budget and its component parts 102\u003c\/p\u003e \u003cp\u003eWhy budgeting is important 103\u003c\/p\u003e \u003cp\u003eConsidering the costs and benefits of data collection 104\u003c\/p\u003e \u003cp\u003eLeveraging AI and data analytics for effective budgeting 106\u003c\/p\u003e \u003cp\u003ePlanning strategically 107\u003c\/p\u003e \u003cp\u003ePlanning How to Plan: Factors That Impact Your Budgeting Process 108\u003c\/p\u003e \u003cp\u003eExperience counts 109\u003c\/p\u003e \u003cp\u003eTiming is everything 109\u003c\/p\u003e \u003cp\u003ePeople get you headed in the right direction 110\u003c\/p\u003e \u003cp\u003eSales projections pay off 111\u003c\/p\u003e \u003cp\u003eThe Nuts and Bolts (and Washers) of Budgeting 112\u003c\/p\u003e \u003cp\u003eUnderstanding the budgeting financials 113\u003c\/p\u003e \u003cp\u003eReviewing revenue and production budgets 116\u003c\/p\u003e \u003cp\u003eBudgeting with Cash Accounting or Accrual Accounting 119\u003c\/p\u003e \u003cp\u003eCash basis accounting: Using your checkbook to budget 119\u003c\/p\u003e \u003cp\u003eI accrue, you accrue, we all accrue with accrual accounting 121\u003c\/p\u003e \u003cp\u003eBudgeting to Produce the Income Statement and Balance Sheet 122\u003c\/p\u003e \u003cp\u003eThe well-balanced balance sheet 122\u003c\/p\u003e \u003cp\u003eThe incredible income statement 123\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: Constant Change: Variance Analysis\u003c\/b\u003e \u003cb\u003e125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eVariance Analysis and Budgeting 126\u003c\/p\u003e \u003cp\u003eUsing management by exception to recognize large variances 126\u003c\/p\u003e \u003cp\u003eSeeing the problem in using a static budget 127\u003c\/p\u003e \u003cp\u003eOpting for a flexible budget 131\u003c\/p\u003e \u003cp\u003eInvestigating budget variances 134\u003c\/p\u003e \u003cp\u003eAnalyzing in Material Price and Efficiency Variances 135\u003c\/p\u003e \u003cp\u003eApplying price variances to direct materials 136\u003c\/p\u003e \u003cp\u003eApplying efficiency variances to direct materials 137\u003c\/p\u003e \u003cp\u003eImplementing price variances for direct labor 139\u003c\/p\u003e \u003cp\u003eSizing up efficiency variances for direct labor 139\u003c\/p\u003e \u003cp\u003eUsing Your Findings to Make Decisions 140\u003c\/p\u003e \u003cp\u003eFollowing up on variances 141\u003c\/p\u003e \u003cp\u003eJudging the effectiveness of your employees 143\u003c\/p\u003e \u003cp\u003eTying supply chain concepts to variance analysis 145\u003c\/p\u003e \u003cp\u003eAttaching ABC costing concepts to variance analysis 145\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: Focusing on Overhead Costs\u003c\/b\u003e \u003cb\u003e149\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUsing Cost Allocation to Minimize Overhead 150\u003c\/p\u003e \u003cp\u003ePaying for the Security Guard: Fixed Overhead Costs 151\u003c\/p\u003e \u003cp\u003ePlanning fixed overhead costs 151\u003c\/p\u003e \u003cp\u003eAllocating fixed overhead costs 152\u003c\/p\u003e \u003cp\u003eAssessing potential causes of fixed overhead variances 155\u003c\/p\u003e \u003cp\u003eThose Vexing Variable Manufacturing Costs 156\u003c\/p\u003e \u003cp\u003eWorking with variable overhead costs 156\u003c\/p\u003e \u003cp\u003eImplementing variance analysis 159\u003c\/p\u003e \u003cp\u003eFinding the reasons for a variable overhead variance 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: What’s on the Shelf? Inventory Costing 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWorking with Inventoriable Costs 164\u003c\/p\u003e \u003cp\u003eUsing the matching principle to calculate profit on sale 164\u003c\/p\u003e \u003cp\u003eErring on the conservative side 166\u003c\/p\u003e \u003cp\u003eCosting Methods for Inventory 166\u003c\/p\u003e \u003cp\u003eUsing the first-in, first-out (FIFO) method 168\u003c\/p\u003e \u003cp\u003eAccounting with the last-in, first-out (LIFO) method 169\u003c\/p\u003e \u003cp\u003eWeighing the merits of weighted-average cost 170\u003c\/p\u003e \u003cp\u003eConsidering specific identification method 171\u003c\/p\u003e \u003cp\u003eAnalyzing profit using FIFO and LIFO 171\u003c\/p\u003e \u003cp\u003eUsing Variable and Absorption Costing to Allocate Fixed Manufacturing Costs 173\u003c\/p\u003e \u003cp\u003eDefining period costs and product costs 174\u003c\/p\u003e \u003cp\u003eApplying variable and absorption costing 175\u003c\/p\u003e \u003cp\u003eRelating Capacity Issues to Inventory 177\u003c\/p\u003e \u003cp\u003eReviewing theoretical and practical capacity 178\u003c\/p\u003e \u003cp\u003eUnderstanding capacity issues for e-commerce firms 179\u003c\/p\u003e \u003cp\u003eUsing normal and master-budget capacity 181\u003c\/p\u003e \u003cp\u003eChoosing a capacity level 182\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3: Making Decisions\u003c\/b\u003e \u003cb\u003e185\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Cost Drivers and Cost Estimation Methods\u003c\/b\u003e \u003cb\u003e187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWorking with Cost Behavior 188\u003c\/p\u003e \u003cp\u003eUnderstanding linear and nonlinear cost functions 188\u003c\/p\u003e \u003cp\u003eDiscovering how cost drivers determine total costs 189\u003c\/p\u003e \u003cp\u003eConsidering Cost Estimation Methods 190\u003c\/p\u003e \u003cp\u003eWalking through the industrial engineering method 190\u003c\/p\u003e \u003cp\u003eAgreeing on the conference method 191\u003c\/p\u003e \u003cp\u003eReviewing the account analysis method 191\u003c\/p\u003e \u003cp\u003eChecking out the quantitative analysis method 192\u003c\/p\u003e \u003cp\u003eChoosing a cost estimation method 196\u003c\/p\u003e \u003cp\u003eExploring Nonlinear Cost Functions 197\u003c\/p\u003e \u003cp\u003eChanging cost functions and slope co-efficients 198\u003c\/p\u003e \u003cp\u003eUnderstanding the impact of quantity discounts 198\u003c\/p\u003e \u003cp\u003eAssessing the Impact of Learning Curves 198\u003c\/p\u003e \u003cp\u003eConsidering how AI and Data Analytics Impact Learning Curves 200\u003c\/p\u003e \u003cp\u003eReviewing AI and data analytics 200\u003c\/p\u003e \u003cp\u003eThrowing in the learning curve 200\u003c\/p\u003e \u003cp\u003eSimplifying a procedure 201\u003c\/p\u003e \u003cp\u003eFinding and using better data 201\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Making Smart Business Decisions with Relevant Information 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNavigating the Geography of Relevance 204\u003c\/p\u003e \u003cp\u003eIntroducing the decision model 205\u003c\/p\u003e \u003cp\u003eApplying a model to an equipment decision 206\u003c\/p\u003e \u003cp\u003eUnderstanding IT purchasing issues 208\u003c\/p\u003e \u003cp\u003eConsidering relevant qualitative factors in decision-making 210\u003c\/p\u003e \u003cp\u003eSpecial Orders Don’t Upset Us, Do They? 211\u003c\/p\u003e \u003cp\u003eDeciding between Outsourcing and In-house Production 213\u003c\/p\u003e \u003cp\u003eWeighing opportunity costs 217\u003c\/p\u003e \u003cp\u003eContemplating the carrying cost of inventory 218\u003c\/p\u003e \u003cp\u003eMaximizing Profit When Capacity Is Limited 220\u003c\/p\u003e \u003cp\u003eManaging capacity and product mix 220\u003c\/p\u003e \u003cp\u003eAnalyzing customer profit and capacity 222\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: Making Smart Pricing Decisions: Figuring Total Costs\u003c\/b\u003e \u003cb\u003e227\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding Influences on Prices 228\u003c\/p\u003e \u003cp\u003eCustomers 228\u003c\/p\u003e \u003cp\u003eCompetitors 228\u003c\/p\u003e \u003cp\u003eSuppliers 229\u003c\/p\u003e \u003cp\u003eSpecial orders 229\u003c\/p\u003e \u003cp\u003ePricing for Profits Down the Road 231\u003c\/p\u003e \u003cp\u003eReviewing market-based and cost-based pricing 231\u003c\/p\u003e \u003cp\u003eAiming at the target: Target costing 232\u003c\/p\u003e \u003cp\u003eArriving at a Reasonable Profit 236\u003c\/p\u003e \u003cp\u003eUsing cost-plus pricing 237\u003c\/p\u003e \u003cp\u003eUsing product life-cycle budgeting 239\u003c\/p\u003e \u003cp\u003eManaging IT product costs and pricing 245\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 4: Allocating Costs and Resources\u003c\/b\u003e \u003cb\u003e249\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Analysis Methods to Improve Profitability 251\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProcessing Cost Allocation 252\u003c\/p\u003e \u003cp\u003eWhy bother? Purposes of cost allocation 252\u003c\/p\u003e \u003cp\u003eJustifying cost allocation decisions 253\u003c\/p\u003e \u003cp\u003eImplementing Cost Allocation 254\u003c\/p\u003e \u003cp\u003eUsing cost hierarchy to allocate costs 254\u003c\/p\u003e \u003cp\u003eAllocating tricky corporate costs 256\u003c\/p\u003e \u003cp\u003eKeeping track of customer revenues and costs 260\u003c\/p\u003e \u003cp\u003eGoing Over Sales Mix and Sales Quantity Variances 264\u003c\/p\u003e \u003cp\u003eRemembering variances and contribution margin 265\u003c\/p\u003e \u003cp\u003eGetting the story about sales mix variance 265\u003c\/p\u003e \u003cp\u003eCalculating sales quantity variance 269\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Behind the Scenes: Accounting for Support Costs and Common Costs\u003c\/b\u003e \u003cb\u003e271\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNot Everyone Generates Revenue: Support Costs 272\u003c\/p\u003e \u003cp\u003eIntroducing single rate cost allocation method 272\u003c\/p\u003e \u003cp\u003eChecking out dual rate cost allocations 275\u003c\/p\u003e \u003cp\u003eUsing practical capacity to determine cost allocation rates 277\u003c\/p\u003e \u003cp\u003eGoing Over Variance Analysis and Department Costs 281\u003c\/p\u003e \u003cp\u003eChoosing budgeted versus actual rate of usage 281\u003c\/p\u003e \u003cp\u003eImplications for the rate of usage selected 284\u003c\/p\u003e \u003cp\u003eAllocating to multiple departments 285\u003c\/p\u003e \u003cp\u003eFocusing on Common Costs 290\u003c\/p\u003e \u003cp\u003eMulling over stand-alone cost allocation 290\u003c\/p\u003e \u003cp\u003eStepping up to incremental cost allocation 291\u003c\/p\u003e \u003cp\u003eMaking a Commitment: Contracts 292\u003c\/p\u003e \u003cp\u003eContracting with the government 292\u003c\/p\u003e \u003cp\u003eThinking about reasonable and fair costs 293\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: Joint Costs, Separable Costs, and Using Up the Leftovers\u003c\/b\u003e \u003cb\u003e295\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWorking with Joint Costs 296\u003c\/p\u003e \u003cp\u003eExplaining joint cost terms 296\u003c\/p\u003e \u003cp\u003eAppreciating the importance of allocating joint costs 297\u003c\/p\u003e \u003cp\u003eConsidering joint cost allocation methods 298\u003c\/p\u003e \u003cp\u003eContinuing Production: Computing Separable Costs After Splitoff 301\u003c\/p\u003e \u003cp\u003eExploring the net realizable value method 301\u003c\/p\u003e \u003cp\u003eIntroducing the constant gross margin percentage NRV method 303\u003c\/p\u003e \u003cp\u003eChoosing a Joint Cost Allocation Method 308\u003c\/p\u003e \u003cp\u003eMaking the case for sales value at splitoff 308\u003c\/p\u003e \u003cp\u003eFalling back to other joint costing methods 308\u003c\/p\u003e \u003cp\u003eDeciding to sell or process further 309\u003c\/p\u003e \u003cp\u003eHolding a Garage Sale: Making the Most of Byproducts 310\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Tracing Similar Products with Process Costing\u003c\/b\u003e \u003cb\u003e313\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProcess Costing: Presenting the Basic Approach 314\u003c\/p\u003e \u003cp\u003eLeading off with direct material costs 314\u003c\/p\u003e \u003cp\u003eFollowing up with conversion costs 315\u003c\/p\u003e \u003cp\u003eSitting on the Factory Floor: Dealing with Work in Process 315\u003c\/p\u003e \u003cp\u003eUsing Equivalent Units to Compare Apples to Apples 316\u003c\/p\u003e \u003cp\u003eCounting the units for equivalent units 317\u003c\/p\u003e \u003cp\u003eHunting down the total costs of production 318\u003c\/p\u003e \u003cp\u003ePutting units and costs together 319\u003c\/p\u003e \u003cp\u003eSeeing different percentages of completion 321\u003c\/p\u003e \u003cp\u003eUsing the Weighted Average Method for Process Costing 325\u003c\/p\u003e \u003cp\u003eHandling beginning work in process 325\u003c\/p\u003e \u003cp\u003eContinuing with equivalent units 326\u003c\/p\u003e \u003cp\u003eIntroducing the First In, First Out Method of Process Costing 328\u003c\/p\u003e \u003cp\u003eComparing Processing Costing Methods 331\u003c\/p\u003e \u003cp\u003eMulling over weighted average and FIFO methods 331\u003c\/p\u003e \u003cp\u003eDebating transferred-in costs 333\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 5: Considering Quality Issues 335\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: What a Waste! Getting the Most from Spoilage, Scrap, and Reworked Products\u003c\/b\u003e \u003cb\u003e337\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAccounting for Waste 338\u003c\/p\u003e \u003cp\u003eDetermining the inspection point 338\u003c\/p\u003e \u003cp\u003eUnderstanding spoilage and scrap 338\u003c\/p\u003e \u003cp\u003eSpoilage and process costing 341\u003c\/p\u003e \u003cp\u003eReworking a product to recoup some profit 346\u003c\/p\u003e \u003cp\u003eApplying Process Costing Methods to Spoilage 346\u003c\/p\u003e \u003cp\u003eWeighing in on the weighted average costing method 347\u003c\/p\u003e \u003cp\u003eDoing the FIFO Hokey Pokey: Put your first in first, take your first out first 349\u003c\/p\u003e \u003cp\u003eJob Costing for Spoilage, Reworked Products, and Scrap 352\u003c\/p\u003e \u003cp\u003eMaking adjustments for normal and abnormal spoilage 352\u003c\/p\u003e \u003cp\u003eReworking and selling a product 355\u003c\/p\u003e \u003cp\u003eMaking allocation decisions about scrap 357\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: Making Smart Ordering Decisions 359\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConsidering the Costs of Inventory 360\u003c\/p\u003e \u003cp\u003eGoing through the ordering sequence 361\u003c\/p\u003e \u003cp\u003eTaking a closer look at stockout costs 362\u003c\/p\u003e \u003cp\u003eCalculating Inventory Quantity with the Economic Order Quantity Formula 363\u003c\/p\u003e \u003cp\u003eFiguring a Favorable Reorder Point 365\u003c\/p\u003e \u003cp\u003eIntroducing safety stock: Creating a cushion 366\u003c\/p\u003e \u003cp\u003eComputing safety stock 366\u003c\/p\u003e \u003cp\u003eEvaluating Prediction Error 367\u003c\/p\u003e \u003cp\u003eCalculating relevant total costs 367\u003c\/p\u003e \u003cp\u003eActing on a prediction error 369\u003c\/p\u003e \u003cp\u003eBuying more and ignoring EOQ 370\u003c\/p\u003e \u003cp\u003ePracticing Just-In-Time Purchasing 371\u003c\/p\u003e \u003cp\u003eKicking around JIT benefits and risks 371\u003c\/p\u003e \u003cp\u003ePutting in a JIT purchasing system 373\u003c\/p\u003e \u003cp\u003eAdjusting total purchasing cost 376\u003c\/p\u003e \u003cp\u003eSCM and Customer Demand Issues 377\u003c\/p\u003e \u003cp\u003ePulling apart the supply chain 378\u003c\/p\u003e \u003cp\u003eAnalyzing demand 378\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: Quality: Building a Better Mousetrap\u003c\/b\u003e \u003cb\u003e381\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConsidering Quality Benefits and Costs 382\u003c\/p\u003e \u003cp\u003eListing the benefits of quality 382\u003c\/p\u003e \u003cp\u003eListing the costs of quality 383\u003c\/p\u003e \u003cp\u003eTaking steps to ensure quality 384\u003c\/p\u003e \u003cp\u003eCompiling a Cost of Quality Report 385\u003c\/p\u003e \u003cp\u003ePutting Quality Practices in Place 387\u003c\/p\u003e \u003cp\u003eQuality in job costing 387\u003c\/p\u003e \u003cp\u003eTaking a spin through inventory 388\u003c\/p\u003e \u003cp\u003eCustomer Satisfaction: Measuring and Improving It 389\u003c\/p\u003e \u003cp\u003eCustomer satisfaction’s non-financial measurements 389\u003c\/p\u003e \u003cp\u003eIs measuring customer satisfaction worth the effort? 391\u003c\/p\u003e \u003cp\u003eDoing More in Less Time 392\u003c\/p\u003e \u003cp\u003eAnalyzing performance related to time 392\u003c\/p\u003e \u003cp\u003eCalculating average waiting time 394\u003c\/p\u003e \u003cp\u003eAdding in manufacturing lead-time 395\u003c\/p\u003e \u003cp\u003eEliminating the Constraint of the Bottleneck 396\u003c\/p\u003e \u003cp\u003eFewer bottlenecks mean increased contribution margin 396\u003c\/p\u003e \u003cp\u003eClearing bottlenecks 397\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 6: The Part of Tens\u003c\/b\u003e \u003cb\u003e401\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20: Ten Common Costing Mistakes and How to Avoid Them 403\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePricing a Product Incorrectly 403\u003c\/p\u003e \u003cp\u003eListing Fixed Costs As Variable Costs 404\u003c\/p\u003e \u003cp\u003eLabeling Period Costs As Product Costs 404\u003c\/p\u003e \u003cp\u003eMisusing Target Net Income 404\u003c\/p\u003e \u003cp\u003eForgetting About Taxes 405\u003c\/p\u003e \u003cp\u003eAssigning Costs to the Wrong Product 405\u003c\/p\u003e \u003cp\u003eNot Reviewing Variances Correctly 406\u003c\/p\u003e \u003cp\u003eRedlining: Pushing Production Activity Above Relevant Range 406\u003c\/p\u003e \u003cp\u003eIgnoring the Timing of Costs 407\u003c\/p\u003e \u003cp\u003eNot Implementing Activity-Based Costing 407\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21: Ten Ways to Increase Profits Using Costing\u003c\/b\u003e \u003cb\u003e409\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSelling More Of The Right Products 409\u003c\/p\u003e \u003cp\u003eImplementing Sales Mix Analysis to Increase Total Profits 410\u003c\/p\u003e \u003cp\u003eBuilding a Higher Margin of Safety 410\u003c\/p\u003e \u003cp\u003eDeciding How Much You Need: Production and Scheduling Issues 410\u003c\/p\u003e \u003cp\u003eWho Does What: Handling Costs and Employee Issues 411\u003c\/p\u003e \u003cp\u003eReducing and Managing Scrap 411\u003c\/p\u003e \u003cp\u003eMoving It off the Shelf: Inventory Issues 411\u003c\/p\u003e \u003cp\u003eEffectively Taking Special Orders 412\u003c\/p\u003e \u003cp\u003eMaking Accurate Cost Allocations 412\u003c\/p\u003e \u003cp\u003eAddressing the Issue of Spoilage 412\u003c\/p\u003e \u003cp\u003eIndex 415\u003c\/p\u003e \u003cp\u003e\u003cb\u003eKen Boyd \u003c\/b\u003eis Co-Founder of Accountinged.com and owns St. Louis Test Preparation. He tutors and coaches people on the principles of accounting and prepares them for challenging accounting licensing exams by making accounting interesting and fun.\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eTake control of overhead and profitability\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEver wonder what parts of your business are the most (or least) profitable? You can get reliable and accurate representations of your company’s expenses and revenues with \u003ci\u003eCost Accounting For Dummies\u003c\/i\u003e. This unique and easy-to-read handbook walks you through every step you need to take to define your costs, allocate them to particular products or services, and determine the profitability of everything you sell. You’ll learn everything a student in an introductory cost accounting class would learn, without the unnecessary accounting jargon! \u003c\/p\u003e\u003cp\u003e\u003cb\u003eInside…\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e\u003cb\u003e\u003cli\u003eUnderstand job costing\u003c\/li\u003e \u003cli\u003eMaster activity-based costing\u003c\/li\u003e \u003cli\u003eUse cost-volume-profit analysis\u003c\/li\u003e \u003cli\u003eCreate realistic budgets\u003c\/li\u003e \u003cli\u003eGet a grip on overhead costs\u003c\/li\u003e \u003cli\u003eEstimate future costs\u003c\/li\u003e \u003cli\u003eIncrease profitability with analysis\u003c\/li\u003e \u003cli\u003eImprove quality control\u003c\/li\u003e\u003c\/b\u003e\u003c\/ul\u003e","brand":"For Dummies","offers":[{"title":"Default Title","offer_id":47988996669669,"sku":"NP9781119856023","price":29.99,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119856023.jpg?v=1761782362","url":"https:\/\/k12savings.com\/es\/products\/cost-accounting-for-dummies-isbn-9781119856023","provider":"K12savings","version":"1.0","type":"link"}