Chapter Ten An Introduction to Management Accounting © 2015 McGraw-Hill Education.

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Chapter Ten An Introduction to Management Accounting © 2015 McGraw-Hill Education.

Type of User versus Type of Information 10-2

10-3

Components of Product Cost MaterialsLabor Overhead 10-4

Average Cost per Unit Total Cost Number of Units = Average Cost per Unit = $250 $1,000 4 For example, Average Cost Per Unit 10-5

10-6

Labor Costs 10-7

Overhead Costs 10-8

Total Product Cost 10-9

Overhead Costs: A Closer Look Indirect Costs Depreciation Supervisor’s Salary Utilities 10-10

Manufacturing Product Cost Summary Direct Materials Direct Labor Manufacturing Overhead Raw material costs that can be easily traced to products. Factory wages that can be easily traced to products. Other factory costs such as indirect materials and labor, utilities, rent, security, and depreciation

The Flow of Manufacturing Costs Through the Accounting Records Balance Sheet Income Statement 10-12

Schedule of Cost of Goods Manufactured Appears on Income Statement The Schedule of Cost of Goods Manufactured summarizes product cost information for manager analyses

Inventory Holding Costs ObviousHidden Financing and Warehouse Space Supervision Theft, damage, obsolescence Increased Production Time Sloppy work Decreased Motivation 10-14

Just-in-Time Inventory JIT Enables Reduction or Elimination of Non-value Added Activities Avoidance of Lost Opportunities 10-15

Ethical Considerations Certified Management Accountants are guided by the IMA Statement of Ethical Professional Practice The statement provides standards on –Competence –Confidentiality –Integrity –Credibility –Resolution of ethical conflict 10-16

Benchmarking: Identifying Best Practices of Global Competitors Total Quality Management (TQM) Activity-Based Management (ABM) Zero defects and Customer Satisfaction through Continuous Improvement Assessment of the Value Chain to create or refine value-added activities and eliminate or reduce non-value-added activities. Extends value chain analysis to all suppliers of a company, as well as servicers of the company’s products. Comprehensive Value Chain Analysis 10-17

End of Chapter Ten 10-18

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