Intended learning outcomes: Produce an overview on actual, direct, and overhead costs. Differentiate between average costs and standard costs as well as between variable costs and fixed costs. Explain the cost accumulation breakdown that is the cost breakdown structure of a product.
Course section 16.1: Subsections and their intended learning outcomes
16.1 Costs, Cost Elements, and Cost Structures
Intended learning outcomes: Produce an overview on actual, direct, and overhead costs. Differentiate between average costs and standard costs as well as between variable costs and fixed costs. Explain the cost accumulation breakdown that is the cost breakdown structure of a product.
16.1.1 Actual Costs, Direct Costs, and Overhead Costs
Intended learning outcomes: Describe actual costs. Differentiate between direct costs and overhead costs.
16.1.2 Average Costs and Standard Costs
Intended learning outcomes: Differentiate between standard costs and average costs. Explain standard cost rates.
16.1.3 Variable Costs and Fixed Costs
Intended learning outcomes: Differentiate between variable costs and fixed costs. Describe step-function costs. Identify full costs.
16.1.4 The Cost Breakdown Structure of a Product: Material and External Labor
Intended learning outcomes: Explain cost accumulation breakdown. Present in detail material costs and external labor costs.
16.1.4b The Cost Breakdown Structure of a Product: Internal Labor, Tools, General Fixed Manufacturing, G&A
Intended learning outcomes: Present in detail internal labor costs. Produce an overview on tooling costs and general fixed manufacturing costs. Differentiate between variable manufacturing costs and (full) manufacturing costs. Identify general and administrative expenses (G&A) and cost of sales. Describe value added.
Course 16: Sections and their intended learning outcomes
Course 16 – Cost Estimation, Job-Order Costing, and Activity-Based Costing
Intended learning outcomes: Produce a review on costs, cost elements, and cost structures. Explain cost estimation in detail. Describe job-order costing. Disclose activity-based costing.
16.1 Costs, Cost Elements, and Cost Structures
Intended learning outcomes: Produce an overview on actual, direct, and overhead costs. Differentiate between average costs and standard costs as well as between variable costs and fixed costs. Explain the cost accumulation breakdown that is the cost breakdown structure of a product.
16.2 Cost Estimation
Intended learning outcomes: Present an algorithm for cost estimation of goods manufactured. Produce a representation of the cost accumulation and an overview of the comprehensive calculation for a product line.
16.3 Job-Order Costing
Intended learning outcomes: Describe actual quantities and actual costs. Explain cost analysis. Produce an overview on the interface from order management to cost accounting.
16.4 Activity-Based Costing
Intended learning outcomes: Disclose the limits of traditional product costing. Explain activity-based costing: aim, basic premise, requirements, and technique. Present typical processes (activities) and process variables as well as the activity-based product cost estimation.
16.5 Summary
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16.6 Keywords
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16.7 Scenarios and Exercises
Intended learning outcomes: Elaborate job-order costing and activity-based costing using an example. Compare job-order costing and activity-based costing.
16.8 References
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