Chapter2管理会计英文版.ppt

Costs Terms, Concepts and Classifications ;;Learning Objective 1;The Product;Direct Materials;Direct Labor;Manufacturing costs that cannot be traced directly to specific units produced.;Non-manufacturing Costs;Learning Objective 2;Product Costs Versus Period Costs;Quick Check ?;;Classifications of Costs;Comparing Merchandising and Manufacturing Activities;Balance Sheet; Merchandiser Current assets Cash Receivables Prepaid Expenses Merchandise Inventory;Learning Objective 3;The Income Statement;Basic Equation for Inventory Accounts ;Quick Check ?;Quick Check ?;Learning Objective 4;Schedule of Cost of Goods Manufactured;As items are removed from raw materials inventory and placed into the production process, they arecalled direct materials. ;Conversion costs are costs incurred to convert the direct material into a finished product.;Product Cost Flows;Product Cost Flows;Product Cost Flows;Manufacturing Cost Flows;Quick Check ?;Quick Check ?;Quick Check ?; Direct materials used in production totaled $280,000. Direct labor was $375,000 and factory overhead was $180,000. What were total manufacturing costs incurred for the month? A. $555,000 B. $835,000 C. $655,000 D. Cannot be determined. ;Quick Check ?; 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 the end of the month. What was the cost of goods manufactured during the month? A. $1,160,000 B. $ 910,000 C. $ 760,000 D. Cannot be determined. ;Quick Check ?;Quick Check ?;Learning Objective 5;Cost Classifications for Predicting Cost Behavior;Variable Cost;Variable Cost Per Unit;Fixed Cost;Fixed Cost Per Unit;Cost Classifications for Predicting Cost Behavior;Quick Check ?;Quick Check ?;Learning Objective 6;Assigning Costs to Cost Objects;Learning Objective 7;Every decision involves a choice between at least two alternatives. Only those costs and benefits that