Intended learning outcomes: Describe actual quantities and actual costs. Explain cost analysis. Produce an overview on the interface from order management to cost accounting.
Course section 16.3: Subsections and their intended learning outcomes
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.
16.3.1 Actual Quantities, Actual Costs, and Backflush Costing
Intended learning outcomes: Identify actual quantities and actual order costs. Produce an overview on backflush costing. Differentiate between standard costing, normal costing, and actual costing in determining actual order costs.
16.3.2 Cost Analysis
Intended learning outcomes: Differentiate between volume variances in an internal operation, volume variances for a component, and variances in the costs per unit produced. Disclose various cost variances.
16.3.3 Product Costing or Project Costing – The Interface from Order Management to Cost Accounting
Intended learning outcomes: Produce an overview on various outputs from cost accounting. Present the various transactions handled by costing software.
Course 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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