costaccountinghmcost1e_ppt_ch06

1、 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-1 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in

2、 part. 6-26 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. a process system is characterized by a large number of homogeneous products passing through a series of processeseach process is responsi

3、ble for one or more operations that bring a product one step closer to completiona process is a series of activities that are linked to perform a specific objectivein each process, materials labor and overhead inputs may be needed and upon completion of that process are transferred to another proces

4、s until complete, when they are transferred to finished goods. 6-31 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-41an operational process system: antihistamine manufacturing 2011 cengage learn

5、ing. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-51comparison of cost accumulation methods 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible we

6、bsite, in whole or in part. 6-61process cost flows illustrated using t-accounts: no ending wip 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-7the production report is the document that summariz

7、es the manufacturing activity that takes place in a process department for a given period of time1unit information1. units to account for 2. units accounted forcost information1. costs to account for2. costs accounted for 2011 cengage learning. all rights reserved. may not be scanned, copied or dupl

8、icated, or posted to a publicly accessible website, in whole or in part. 6-81basic features of a process-costing system 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-9services that are homogene

9、ous and repetitively produced can use the process-costing approach.examples: check processing in a bank, changing oil, dental cleaning, surgical procedures2 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or i

10、n part. 610jit manufacturing firms minimize inventories and strive to reduce work-in-process inventories to insignificant levels.emphasizes continuous improvement and the elimination of waste2 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a public

11、ly accessible website, in whole or in part. 6-11equivalent units of output: the complete units that could have been produced given the total amount of productive effort expended for the period under consideration3 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated,

12、or posted to a publicly accessible website, in whole or in part. 6-12cost of production report1)analysis of the flow of physical units2)calculation of equivalent units3)computation of unit costs4)valuation of inventories (goods transferred out and ending work in process)5)cost reconciliation3 2011 c

13、engage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-13under the fifo costing method, the equivalent units and manufacturing costs in beginning work in process are excluded from the current period unit cost

14、 calculation. thus, fifo recognizes that the work and costs carried over from the prior period legitimately belong to that period.4see cornerstone 6-7 and 6-8. 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole o

15、r in part. 6-144production report:blending department 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. the weighted average costing method picks up beginning inventory costs and the accompanying equ

16、ivalent output and treats them as if they belong to the current period. prior period output and manufacturing costs found in beginning work in process are merged with the current period output and manufacturing costs.6-155see cornerstone 6-9 and 6-10. 2011 cengage learning. all rights reserved. may

17、not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-165production report: blending department 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-

18、17fifo and weighted average differ on two key dimensions:how output is computedwhat costs are used for calculating the periods unit cost5 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-18transfe

19、rred in costs:the cost of this material is the cost of the goods transferred out computed in the prior departmentthe units started in the subsequent department correspond to the units transferred out from the prior department, assuming that there is a one-to-one relationship between the output measu

20、res of both departmentsthe units of the transferring department may be measured differently than the units of the receiving department6 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-196producti

21、on and cost data: encapsulating department 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-206equivalent units of production: weighted average method 2011 cengage learning. all rights reserved. may not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part. 6-216production report:encapsulating department 2011 cengage learn