Accounting Principles Managerial Accounting参考.pptx

;;Managerial accounting provides economic and financial information for managers and other internal users.;;Planning;Louis Vuitton;Organization charts show the interrelationships of activities and the delegation of authority and responsibility within the company.;Indicate whether the following statements are true or false.;False;Managers should ask questions such as the following. What costs are involved in making a product or providing a service? If we decrease production volume, will costs decrease? What impact will automation have on total costs? How can we best control costs?;Manufacturing consists of activities and processes that convert raw materials into finished goods.;DIRECT MATERIALS;Not physically part of the finished product or they are an impractical to trace to the finished product because their physical association with the finished product is too small in terms of cost. Considered part of manufacturing overhead.;Work of factory employees that can be physically and directly associated with converting raw materials into finished goods.;Costs that are indirectly associated with manufacturing the finished product. Includes all manufacturing costs except direct materials and direct labor. Also called factory overhead, indirect manufacturing costs, or burden.;Whirlpool;Components: Costs that are an integral part of producing the product. Recorded in “inventory” account. Not an expense (COGS) until the goods are sold.;Charged to expense as incurred. Non-manufacturing costs. Includes all selling and administrative expenses.;Product Versus Period Costs;;;If KRT Boards produces 10,000 snowboards the first year, what would be the total manufacturing costs?;A bicycle company has these costs: tires, salaries of employees who put tires on the wheels, factory depreciation, advertising expenditures, lubricants, spokes, salary of factory manager, salary of accountant, handlebars, and salaries of factory maintenance employees. Classify each cost as direct materials,