Enhance your career with an invaluable skill set in cost accounting. This program presents a comprehensive cost system based on a real company, guiding you through the accurate classification of manufacturing overhead costs. Learn to distinguish between true variable and fluctuating variable costs, identify fixed overhead costs that are direct or directly assignable, and account for variances from standard costs. In this model, all manufacturing overhead costs are fully traced to products, providing practical insights you can apply directly in the workplace. It's highly recommended to take Part 1 before Part 2 as several foundational principles in Part 1 carry forward throughout Part 2.
Learning Objectives
Comprehensive detail of manufacturing overhead costs 3 Overhead variances, plus overall manufacturing overhead variance Solutions for costing phantom sub-assemblies Setting up inventory cost pools by bases for tracing to products Should standard costs be changed during the year?
Major Topics
- Classifying manufacturing overhead costs into 5 cost types Selecting the bases for tracing overhead costs to products Period Manufacturing Inefficiencies cost of sales
- categories and costing Segregating inventory for costing and analysis Accounting for variances
- budgeting, analyzing, timing for recording
