Content 1. Introduction 4 2. Part Ⅰ--Standard Costing System and Variance Analysis 5 2.1. Definition 5 2.2. Scenarios of Standard Costing System and Variance Analysis 5 2.2.1 Scenario Ⅰ Manufacturing Companies—Auto-making Firms 6 2.2.2 Scenario Ⅱ Service Industries—Banks 7 2.2.3 Scenario Ⅲ Other Industries That Have not Repetitve Processes—AdvertisingFirms 8 2.3. Standard Costing System on Different SIzes 9 2.4. Variance Analysis 9 2.4.1 Total Production Cost Variance 9 2.4.2
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LIFE CYCLE COSTING Life cycle costing (LCC) is the process of collecting‚ interpreting and analyzing data and using quantitative tools and techniques to predict the future resources that will be required in any life cycle of a system of interest. LCC can also be defined as a technique to establish the total cost of ownership. It is a structured approach addresses all the elements of this cost and can used to produce a spend profile of a product over its life span. The result of LCC usually
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Systems‚ Applications‚ Products in data processing‚ or SAP‚ was originally introduced in the 1980s as SAP R/2‚ which was a system that provided users with a soft real-time business application that could be used with multiple currencies and languages. As client–server systems began to be introduced‚ SAP brought out a server based version of their software called SAP R/3‚ henceforth referred to as SAP‚ which was launched in 1992. SAP also developed a graphical user interface‚ or GUI‚ to make the system
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Additional Duties of the Phlebotomist Chapter 16 Additional Duties of the Phlebotomist providing instructions and materials for specimen collection Collecting throat and nasopharyngeal swabs Performing sweat electrolyte collection Assisting physicians in bone marrow aspiration Interviewing blood donors Blood donor collection Transporting/receiving non-blood samples Delivery of samples to appropriate sections/shipment to reference lab Use of laboratory information system Patient Instruction
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MARGINAL AND ABSORPTION COSTING Marginal costing is a technique in which production units are valued at marginal cost of production and fixed costs are written off as period costs. It follows that‚ stocks are valued using only the variable cost of production whereas fixed costs are treated as relating to the period and must be taken off in total. Management accounting is based on marginal costing. TERMINOLOGY USED. Gross contribution: Is the difference between sales value and variable costs
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VARIABLE COSTING Learning Objectives 1. Explain the accounting treatment of fixed manufacturing overhead under absorption and variable costing. 2. Prepare an income statement under absorption costing. 3. Prepare an income statement under variable costing. 4. Reconcile reported income under absorption and variable costing. 5. Explain the implications of absorption and variable costing for cost-volume-profit analysis. 6. Evaluate absorption and variable costing. 7
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Activity-based costing (ABC) is a costing model that identifies activities in an organization and assigns the cost of each activity resource to all products and services according to the actual consumption by each. It also assigns more indirect costs (overhead) into direct costs. In business organization‚ the ABC methodology assigns an organization’s resource costs through activities to the products and services provided to its customers. It is generally used as a tool for understanding product and customer
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Computerize Sales and Product Monitoring System For Mary Nicole Bakeshop Proponents by: Amparo‚ Arjelica Antonio‚Neliza Dalanon‚Gina Guinchoma‚Alyssa Metuda‚Emilyn Phua‚Raymart Mrs. Wyoming Plopinio
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under throughput costing? Under throughput costing‚ are product costs higher or lower than with other costing methods? Under throughput costing‚ if the sales price per unit is $20‚ direct materials are $8.00 per unit‚ direct labor is $4.00 per unit‚ variable manufacturing overhead is $6.00 per unit‚ if 20‚000 units are produced‚ how much would the variable costs considered period costs on the income statement under throughput costing be? Direct labor be included as a product cost when using
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SAP stands for Systems Applications and Products in Data Processing. It was Founded in 1972 by Wellenreuther‚ Hopp‚ Hector‚ Plattner and Tschira. SAP by definition is also name of the ERP (Enterprise Resource Planing) software as well the name of the company. SAP system comprises of a number of fully integrated modules‚ which covers virtually every aspect of the business management. SAP is #1 in the ERP market. As of 2010‚ SAP has more than 140‚000 installations worldwide‚ over 25 industry-specific
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