Accounting - ACCT 226
Cost Accounting (4-0) 4 Cr. Hrs.
Concepts of cost accounting as a management tool for control and planning will be introduced. Actual and standard cost methods as applied to job and process cost systems; accounting for materials, labor and manufacturing overhead; direct costing method; and cost accounting projects will be covered.
(A requirement that must be completed before taking this course.)
Upon successful completion of the course, the student should be able to:
- Apply accounting procedures for purchasing, storing and issuing materials.
- Compare inventory cost flow assumptions.
- Record labor costs in journals, ledgers and subsidiary ledgers.
- Apply overhead to production using rates developed by the student.
- Explain ways of accounting for spoilage.
- Process costs using job order cost systems.
- Apply process cost systems using average and FIFO methods.
- Account for by-products and joint products.
- Explain cost behavior, standard costs, variance analysis and the principles of budgeting.
- Apply cost-volume-profit analysis and direct costing.
- Evaluate basic cost analysis results and non-cost factors to make decisions.
- Evaluate the concept of constraints and local sub-optimization.
| ||226||112563||Cost Accounting|| ||4||Ramey L||$12.00||12/30/0||Open||M W 05:30 PM-07:24 PM AS820