Brewer 3rd Edition Template - California State ….pptVIP

An Introduction to Managerial Accountingand Cost Concepts Work of Management Planning Directing and Motivating Controlling Planning and Control Cycle Comparison of Financial and Managerial Accounting Learning Objective Manufacturing Costs Direct Materials Direct Labor Manufacturing Overhead Classifications of Costs Non-manufacturing Costs Learning Objective Product Costs Versus Period Costs Quick Check ? Quick Check ? Comparing Merchandising and Manufacturing Activities Merchandisers . . . Buy finished goods. Sell finished goods. Manufacturers . . . Buy raw materials. Produce and sell finished goods. Balance Sheet Balance Sheet Learning Objective The Income Statement Inventory Flows Quick Check ? Quick Check ? Learning Objective Schedule of Cost of Goods Manufactured Schedule of Cost of Goods Manufactured Schedule of Cost of Goods Manufactured Schedule of Cost of Goods Manufactured Schedule of Cost of Goods Manufactured Cost of Goods Sold Manufacturing Cost Flows Quick Check ? Quick Check ? Quick Check ? Quick Check ? Quick Check ? Quick Check ? Quick Check ? Quick Check ? Learning Objective Cost Classifications for Predicting Cost Behavior Total Variable Cost Variable Cost Per Unit Total Fixed Cost Fixed Cost Per Unit Cost Classifications for Predicting Cost Behavior Quick Check ? Quick Check ? Learning Objective Assigning Costs to Cost Objects Learning Objective Cost Classifications for Decision Making Differential Costs and Revenues Opportunity Costs Sunk Costs Quick Check ? Quick Check ? Quick Check ? Quick Check ? Quick Check ? Quick Check ? Summary of the Types of Cost Classifications Financial reporting Predicting cost behavior Assigning costs to cost objects Decision making End of Chapter 1 Right. $835,000. Take a minute and review the solution before proceeding. Beginning work in process was $125,000. Manufacturing costs incurred for the month were $835,000. There were $200,000 of partially finished goods remaining in work in process inventory at