ACCT 3280 - Cost Accounting

Description

The basic theory and practice related to determination of cost of products and services provided by a business and providing accounting information to management.

Learning Objectives

• Determine the direct (traceable) or indirect (allocated) cost of a product or service
• Analyze cost behavior patterns (variable, fixed and mixed) and their effect on total cost as production varies
• Account for the flow of the cost of production from raw materials through cost of goods sold
• Determine the cost of a product or service using job order or process costing depending on the production environment
• Account for the cost of a product or service in a standard cost environment incorporating the use of variance analysis
• Calculate the breakeven point and operating leverage of a product or service by the use of cost behavior patterns
• Apply the concept of relevant costs in several common decision making situations such as make or buy, sell or process further, and one-time special pricing
• Use process costing to determine the cost of goods and services