Standard |
ACC 150-Cost Accounting
Emphasizes a thorough understanding of cost concepts, cost behavior, and cost accounting techniques as they are applied to manufacturing cost systems. Topics include job order cost accounting, process cost accounting, and standard cost accounting.
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Competency Areas |
Hours
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Job order cost accounting |
Class |
2 |
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Process cost accounting |
D. Lab |
6 |
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Standard cost accounting |
P. Lab/O.B.I. |
0 |
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Credit |
5 |
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Prerequisite: |
ACC 103 |
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Corequisite: |
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Course Guide |
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Competency |
After completing this
section, the student will: |
Hours |
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Class |
D.Lab |
P.Lab/ O.B.I. |
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JOB ORDER COSTACCOUNTING |
8 |
30 |
0 |
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Will be able to implement procedures for a job order cost accounting system. |
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Identify accounting processes. |
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Produce a statement of cost of goods manufactured. |
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Record journal entries. |
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PROCESS COSTACCOUNTING |
8 |
20 |
0 |
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Will be able to implement procedures for a process cost accounting system. |
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Explain process cost procedures. |
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Record costs incurred in each operating step. |
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Produce monthly cost of production reports. |
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Record entries relative to process cost. |
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STANDARD COST ACCOUNTING |
4 |
10 |
0 |
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Will be able to implement procedures for a standard cost accounting system |
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Explain standard cost procedures. |
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Calculate various types of variances and entries. |
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Suggested Resources |
Brock, Horace R. et al. (1999). Cost Accounting: Principles and Applications. 6th Ed. New York, NY: Glencoe/McGraw-Hill.