Strategic cost

71問 • 1年前

aen silang

通報

問題一覧

The process of reducing total cost while improving strategic position of the business

strategic cost management

Who developed TQM?

william deming

continual process of detecting and reducing errors in manufacturing and ensuring employees are up to speed with training

total quality management

meaning of kaizen

change for better

japanese business philosophy regarding processes that continuously improve operations and involve employee

kaizen

involves setting of goals and budget preparation

planning

analysis of financial statement

control

performance of CVP analysis, relevant costing, variable

decision making

head of treasury

treasury director

head of accounting

controller

two types of accounting information

financial, managerial

is reported at fixed intervals in general purpose financial statement

financial accounting

designed to meet specific needs of company management

managerial accounting

provides objective measures of past operation

historical data

provides subjective estimate about future decision

estimated data

managerial accounting do not always have to be..?

a. prepared according to GAAP b. prepared at fixed interval c. prepared for the business as a whole

directly involved in providing goods or services to the customers of the company

line department

provides services, assistance and advice to the department with line or other staff responsibilities

staff department

controller is the...?

chief management accountant

used in developing the company's objectives and translating these objectives into courses of actions

planning

developing long term action to achieve company's objectives

strategic planning

involved period in strategic planning

5-10 years

develops short term actions for managing day to day operation

operational planning

process by which managers run day ti day operation

directing

monitoring operating results and comparing actual with expected results

controlling

philosophy of controlling which includes comparing actual and expected results

management by exception

feedback is also used by managers to support continuous process improvement

improving

philosophy of continually improvif busineee, employees, and products

continuous process improvement

inherent in each of preceding management process

decision making

operations of business can be classified as:?

service, merchandising, manufacturing

payment of cash or the commitment to pay cash in the future

cost

segment of operations

cost object

identified with and can be traces to a cost object

direct costs

cannot be identified with or traced to a cost object

indirect cost

cost of any material that is an integral part of the finished product

direct materials cost

cost of employee that in an integral part of finished product

direct labor cost

cost other than direct materials, and DL that are incurred to manufacturing prosses combined

factory overhead cost

cost of converting materials into finished product

conversion costs

consist of direct materials and direct labor cost

prime costs

consist of direct labor and factory overhead costs

conversion costs

both a prime cost and a conversion cost

direct labor

consist of manufacturing costs

product costs

consist of selling and administrative expenses

period costs

incurred in marketing the product and delivering products to customers

selling expenses

incurred in managing the company and are not directly related to the manufacturingor selling functions

administrative expenses

other term for materials inventory

raw materials inventory

this inventory consist of the cost of direct and indirect materials that have not entered the manufacturing process

materials inventory

hour by hour summary of activities throughout the day

time ticket

ticket in manufacturing overhead

direct labor

records the materials, labor, and manufacturing overhead cost charged to the job

job cost sheet

what is the cost formula

y=a+bx

what is x in the formula?

estimated total amount of allocation base

what is y in the formula?

estimated total manufacturing overhead cost

what is a in the formula?

estimated total fixed MOH cost

what is b in the formula?

estimated variable MOH cost per unit of allocation days

inventories or capitalizable costs

product cost

cost related to support production

period cost

varies directly proportional to activity level

variable cost

remains constant regardless of activity level

fixed cost

the elimination of the difference between applied overhead and actual overhead

disposition of over or under applied overhead

formula for predetermined overhead rate

estimated manufacturing overhead cost/estimated total units in the allocation base

formula in manufacturing overhead applied to products

actual direct labor hours worked x predetermined overhead rate

an inventory system which alligns raw materials order from supplier directly with production

just in time

3 types of inventory

materials, work in process, finished goods inventory

this inventory consist of DM, DL, FOH for products that entered the manufacturing process but is not yet completed

work in process inventory

this inventory consist of completed products that have not been sold

finished goods inventory

all manufacturing cost, fixed and variable are assigned to units of products

absorption costing

is a document that list the quantity of each type of direct materials meeded to complete the product

bill of materials

is a document that specifies the type and quantity of materials to be drawn

materials requisition form

assigning overhead jobs

overhead application

measure used to assign overhead costs

allocation base

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問題一覧

The process of reducing total cost while improving strategic position of the business

strategic cost management

Who developed TQM?

william deming

continual process of detecting and reducing errors in manufacturing and ensuring employees are up to speed with training

total quality management

meaning of kaizen

change for better

japanese business philosophy regarding processes that continuously improve operations and involve employee

kaizen

involves setting of goals and budget preparation

planning

analysis of financial statement

control

performance of CVP analysis, relevant costing, variable

decision making

head of treasury

treasury director

head of accounting

controller

two types of accounting information

financial, managerial

is reported at fixed intervals in general purpose financial statement

financial accounting

designed to meet specific needs of company management

managerial accounting

provides objective measures of past operation

historical data

provides subjective estimate about future decision

estimated data

managerial accounting do not always have to be..?

a. prepared according to GAAP b. prepared at fixed interval c. prepared for the business as a whole

directly involved in providing goods or services to the customers of the company

line department

provides services, assistance and advice to the department with line or other staff responsibilities

staff department

controller is the...?

chief management accountant

used in developing the company's objectives and translating these objectives into courses of actions

planning

developing long term action to achieve company's objectives

strategic planning

involved period in strategic planning

5-10 years

develops short term actions for managing day to day operation

operational planning

process by which managers run day ti day operation

directing

monitoring operating results and comparing actual with expected results

controlling

philosophy of controlling which includes comparing actual and expected results

management by exception

feedback is also used by managers to support continuous process improvement

improving

philosophy of continually improvif busineee, employees, and products

continuous process improvement

inherent in each of preceding management process

decision making

operations of business can be classified as:?

service, merchandising, manufacturing

payment of cash or the commitment to pay cash in the future

cost

segment of operations

cost object

identified with and can be traces to a cost object

direct costs

cannot be identified with or traced to a cost object

indirect cost

cost of any material that is an integral part of the finished product

direct materials cost

cost of employee that in an integral part of finished product

direct labor cost

cost other than direct materials, and DL that are incurred to manufacturing prosses combined

factory overhead cost

cost of converting materials into finished product

conversion costs

consist of direct materials and direct labor cost

prime costs

consist of direct labor and factory overhead costs

conversion costs

both a prime cost and a conversion cost

direct labor

consist of manufacturing costs

product costs

consist of selling and administrative expenses

period costs

incurred in marketing the product and delivering products to customers

selling expenses

incurred in managing the company and are not directly related to the manufacturingor selling functions

administrative expenses

other term for materials inventory

raw materials inventory

this inventory consist of the cost of direct and indirect materials that have not entered the manufacturing process

materials inventory

hour by hour summary of activities throughout the day

time ticket

ticket in manufacturing overhead

direct labor

records the materials, labor, and manufacturing overhead cost charged to the job

job cost sheet

what is the cost formula

y=a+bx

what is x in the formula?

estimated total amount of allocation base

what is y in the formula?

estimated total manufacturing overhead cost

what is a in the formula?

estimated total fixed MOH cost

what is b in the formula?

estimated variable MOH cost per unit of allocation days

inventories or capitalizable costs

product cost

cost related to support production

period cost

varies directly proportional to activity level

variable cost

remains constant regardless of activity level

fixed cost

the elimination of the difference between applied overhead and actual overhead

disposition of over or under applied overhead

formula for predetermined overhead rate

estimated manufacturing overhead cost/estimated total units in the allocation base

formula in manufacturing overhead applied to products

actual direct labor hours worked x predetermined overhead rate

an inventory system which alligns raw materials order from supplier directly with production

just in time

3 types of inventory

materials, work in process, finished goods inventory

this inventory consist of DM, DL, FOH for products that entered the manufacturing process but is not yet completed

work in process inventory

this inventory consist of completed products that have not been sold

finished goods inventory

all manufacturing cost, fixed and variable are assigned to units of products

absorption costing

is a document that list the quantity of each type of direct materials meeded to complete the product

bill of materials

is a document that specifies the type and quantity of materials to be drawn

materials requisition form

assigning overhead jobs

overhead application

measure used to assign overhead costs

allocation base