cost accounting applied to farming in southwest michigan.pdf

Western Michigan University ScholarWorks at WMU Honors Theses Lee Honors College 12-12-2012 Cost Accounting Applied to Farming in Southwest Michigan Toni Fisher Western Michig an University, toni.l.fisher@ Follow this and additional works at : /honors_theses Part of the A ounting Commons Re ommended Citation Fisher, Toni, Cost A ounting Applied to Farming in Southwest Michigan (2012). Honors Theses. Paper 2320. This Honors Thesis-Open A ess is brought to you for free and open a ess by the Lee Honors College at ScholarWorks at WMU. It has been a epted for inclusion in Honors Theses by an authorized administrator of ScholarWorks at WMU. For more information, please ontact maira.bundza@. Running Head: COST ACCOUNTING AND FARMING 1 Cost Accounting Applied to Farming in Southwest Michigan Toni L. Fisher Western Michigan University Haworth College of Business Lee Honors College COST ACCOUNTING AND FARMING 2 Table of Contents Abstract 3 Cost vs. Expense 4 Presentation of Cost in Financial Statements 5 Manufacturing Companies 6 Cost Allocation 9 Details of Manufacturing Cost Flows 9 Cost Behavior 10 Making Cost Information More Useful for Managers 11 Activity-Based Costing 12 Agriculture in Michigan 13 Agriculture in Southwest Michigan 15 The Farming Process 15 A Crop Year