Cost Accounting
Open to see guidance on how to use the materials for each subject
- Start by identifying and clicking on the subject you need to learn
- Review the Key Things to Know for the topic.
- Watch the Video Lectures for Step-by-Step instruction for procedures.
- Take the Self-Test to make sure you understand the terminology and formulas.
- Work the Practice as You Learn problems to reinforce the concepts you’ve reviewed.
- Now you’re ready to start to work your practice tests!
- Work the Self Test, then the Easy Test, followed by the Medium Test and
Hard Test (if it gets harder) as your understanding significantly increases.
- Work the Self Test, then the Easy Test, followed by the Medium Test and
- Take specific notes on what you are missing and what to watch out for so that you do not make the same mistake on your test.
- Make sure you write out the answers to the problems on paper (like you will do on your test).
Subjects Covered
Product & Period Costs Determine the Cost of Making One ProductCost Behavior: Fixed, Variable, Mixed Mixed Costs: High/Low, Scatter-plot Cost Volume Profit AnalysisFlexible BudgetsCost of Goods ManufacturedJob Order CostingJoint Products – By ProductsActivity Based CostingProcess CostingProcess Costing – Spoilage Variable Cost Variance AnalysisFixed O/H Variance AnalysisRecording Variances Short-term DecisionsCapital Investments (Long-term Decisions)Variable Cost & Absorption Cost Income StatementTransfer PricingSegment Reporting and Performance Measurement Allocating Costs – Responsibility AccountingComprehensive Master BudgetsFinal Review
Video Lectures
Cost Classification: Product or Period
Cost Behavior: Variable / Fixed / Mixed
Cost of Goods Manufactured & Cost of Goods Sold
Record Manufacturing Costs (Actual Cost Method)
Record Manufacturing Costs (Normal Cost Method)
Record Manufacturing Costs (Standard Cost Method)
Long-term (Capital) Decisions Overview
Long-term (Capital) Decisions Example
Variable Cost & Absorption Cost Income Statements