What is my cost?-- Managerial Accounting and Product CostingCode: 24-COSTMGT

91 pages

Course Learning Objectives

• Recognize the differences between managerial and financial accounting, the various ways to classify costs, and the presentation of inventory and cost of goods within the Balance Sheet and Income Statement.
• Properly identify the job order costing techniques used to allocate product costs to jobs/products along with the related journal entries and documents.
• Properly identify the process order costing techniques used to allocate product costs to products in addition to the related journal entries and documents.
• Properly identify the three activity-based costing methods for allocating product costs including: 1) Single factory wide overhead rate method, 2) Department overhead rate method, and 3) Activity-based overhead costing method.

Category: Accounting

Recommended CPE Hours: 4

Level of knowledge: Update

Prerequisite: Basic understanding of Accounting

Advanced Preparation: None

Exam expiration date: Participants must submit exams for grading within one year from the date of purchase