View larger. Managerial accounting taught through real-world business application. Managerial Accounting helps students see how managerial accounting concepts are used in business to make decisions. With new problems, cases, and applications in the 5th Edition , students receive the most up-to-date information and practice opportunities to prepare them for their future careers in accounting.
Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts. Students see the connections between accounting concepts and the businesses they interact with everyday. Hallmark features emphasize key concepts and issues in managerial accounting. Select modifications and enhancements were made to the chapters to make them easier for students to grasp difficult concepts, including:.
Introduction to Managerial Accounting. Pearson offers affordable and accessible purchase options to meet the needs of your students. Connect with us to learn more. Braun is also the Beta Alpha Psi adviser and the director of the undergraduate accounting program. Professor Braun was on the faculty of the J.
She has received several student-nominated Outstanding Teacher of the Year awards at both business schools, and is regularly asked to speak to student clubs and organizations about personal financial planning. Braun has two daughters who are both in college. In her free time, she enjoys biking, gardening, hiking, skiing, and spending time with family and friends. Wendy M. She teaches introductory financial and managerial accounting in a variety of formats, including large sections, small sections, and web-based sections.
She has received numerous college and university teaching awards while at Kent State University. Section as well as the Teaching, Learning and Curriculum Section.
She regularly presents at AAA regional and national meetings. Tietz authors a blog, Accounting in the Headlines, which has real-world news stories and resources for use in the introductory accounting classroom. She worked in industry for several years, both as a controller for a financial institution and as the operations manager and controller for a recycled plastics manufacturer. Tietz and her husband, Russ, have two grown sons. In her spare time, she enjoys walking, reading, and spending time with family and friends.
The Favorable or Unfavorable Variance. Chapter 8 — Joint and By-Product Costing. Split-Off Points and By-Products. Chapter 9 — Waste Accounting. Accounting for Normal Spoilage.
Accounting for Abnormal Spoilage. Accounting for the Sale of Spoilage. Impact of Waste on Manufacturing Systems. Chapter 10 — Product Pricing. The Issue of Overhead Application. Chapter 11 — Target Costing. The Basic Steps of Target Costing.
Value Engineering Considerations. Data Sources for Target Costing. Chapter 12 — Transfer Pricing. Market Price Basis for Transfer Pricing. Negotiated Basis for Transfer Pricing. Contribution Margin Basis for Transfer Pricing. Cost Plus Basis for Transfer Pricing.
Pricing Problems Caused by Transfer Pricing. The Tax Impact of Transfer Prices. Chapter 13 — Direct Costing. Contribution Margin versus Gross Margin. Direct Costing as an Analysis Tool.
Chapter 14 — Activity-Based Costing. The Problem with Overhead Allocation. Overview of Activity-Based Costing. Advantages of Activity-Based Costing. Problems with Activity-Based Costing. The Incremental Cost Reduction Fallacy. Chapter 15 — Constraint Analysis. Constraint Analysis Operational Terminology. Overview of Constraint Analysis.
Constraint Analysis Financial Terminology. Constraint Analysis from a Financial Perspective. The Decision to Sell at a Lower Price. The Decision to Outsource Production. The Capital Investment Decision. The Decision to Cancel a Product. Chapter 16 — Capital Budgeting Analysis. Capital Budget Proposal Analysis. The Capital Budgeting Application Form. Capital Budgeting with Minimal Cash. Chapter 17 — Cost Collection Systems. Special Considerations for Labor Tracking.
The Duration of Cost Collection. Other Sources of Cost Information. Chapter 18 — Cost Variability. Costs Based on Purchase Quantities. Conversion cost is the sum of direct labor and overhead. Total product cost consists of direct materials, direct labor, and overhead.
This is not equal to the sum of prime cost and conversion cost because then direct labor would be double counted. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. A period cost is one that is expensed immediately, rather than being inventoried like a product cost Selling cost is the cost of selling and delivering products and services. Examples include free samples, advertising, sponsorship of sporting events, commissions on sales, and the depreciation on delivery trucks such as Coca-Cola or Pepsi trucks.
The cost of goods manufactured is the sum of direct materials, direct labor, and overhead used in producing the units completed during the current period and transferred to finished goods inventory. The cost of goods manufactured is the cost of direct materials, direct labor, and overhead for the units produced completed during a time period. The cost of goods sold is the cost of direct materials, direct labor, and overhead for the units sold during a time period. The number of units produced is not necessarily equal to the number of units sold during a period.
For example, a company may produce 1, pairs of jeans in a month but sell only pairs. The income statement for a manufacturing firm includes the cost of goods sold, which is the sum of direct materials, direct labor, and manufacturing overhead.
The income statement for a service firm contains no cost of goods sold because there is no product to purchase or to manufacture and, thus, there is no inventory account to expense as cost of goods sold. In addition, because there is no cost of goods sold on the income statement of a service firm, there is no gross margin, unlike a manufacturing firm.
The percentage column on the income statement gives some insight into the relative spending on the various expense categories. CE 1. Number of units sold: Finished goods inventory, June 1……………………………………. Allstar has no Cost of Goods Sold line item because the company is a service provider, rather than a manufacturer.
Therefore, as a service provider, Allstar has no inventory costs raw materials, work in process, or finished goods to flow through to Cost of Goods Sold when it recognizes its sales revenue. Instead, all of the costs it incurs in providing advertising services appear as Operating Expenses on the income statement.
The remainder is administrative cost. All commissions are selling costs. The two products that Holmes sells are playhouses and the installation of playhouses. The playhouse itself is a product, and the installation is a service. Holmes could assign the costs to production and to installation, but if the installation is a minor part of its business, it probably does not go to the trouble. The opportunity cost of the installation process is the loss of the playhouses that could have been built by the two workers who were pulled off the production line.
Salary of cell supervisor—Direct b. Power to heat and cool the plant in which the cell is located—Indirect c. Materials used to produce the motors—Direct d. Labor used to produce motors—Direct f. Depreciation on the plant—Indirect h. Depreciation on equipment used to produce the motors—Direct i.
Ordering costs for materials used in production—Indirect j. Engineering support—Indirect k. Cost of maintaining the plant and grounds—Indirect l. Property tax on the plant and land—Indirect E 1. Hannah might have elected to let its ending materials inventory drop in order to save cash for purchases other than buying materials inventory. Participative budgeting: This is not the correct option because participative budget Explanation: Decentralization means delegation of decision-making authority and responsibility to Ideal standards are based on currently attainable conditions is not the correct Explanation: Use of time value of money gives an appropriate idea of future and present money as it Administrative activities: This is the correct option because administrative Explanation: Any company can maintain the sustainability in the long run with the three pillars of More Editions of This Book Corresponding editions of this textbook are also available below:.
Managerial Accounting 4th Edition. Managerial Accounting. For Intro To Financial Acct. Managerial Accounting, Global Edition. Managerial Accounting Custom Package.
Managerial Accounting Custom. Managerial Accounting: International Edition. Managerial Accounting, Third Canadian Edition,. Managerial Accounting - With Helios Access.
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