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Republic of the Philippines
POLYTECHNIC UNIVERSITY OF THE PHILIPPINES
OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND SATELLITE CAMPUSES PULILAN CAMPUS
COURSE GUIDE
Course Code ACCO 019
Course Title COST ACCOUNTING Credit Units 3 Units Pre-requisite None Course Description This course is designed to orient the students to the cost accounting and cost management framework of business. Topics discussed are overview of cost accounting; manufacturing cost accounting cycle; costing methods; job and process cost systems; accounting, planning and control for materials, labor and overhead; accounting for joint and by- products; and Standard Costing Semester First Semester, Academic Year 2023-2024 Faculty Mr. John Emmanuel G. Tarog
Week (2023) Topics
Week 1 – 2 Class Orientation and Course Introduction Overview of Cost Accounting Definition of Cost Accounting Uses of Cost Data Week 3 – 4 Classification of Costs Separating Mixed Costs Cost Accounting Cycle Inventory Accounts Flow of Manufacturing Costs Methods of Accumulating Product Costs Predetermined Overhead Rate Manufacturing Overhead Account Basic Transactions of a Manufacturing Company Multiple Overhead Rates Departmental Rate and Plant Wide Rate Cost of Goods Manufactured and Sold Week 5 - 6 Cost Determination: Costing of Resource Inputs Raw Materials Perpetual and Periodic Inventory System Accounting for Materials – Perpetual Inventory Valuation Methods Economic Order Quantity Reorder Point Luna Street, Balatong B, Pulilan, Bulacan, 3005 Website: www.pup.edu.ph | Email: pulilan@pup.edu.ph
THE COUNTRY’S 1st POLYTECHNICU
Republic of the Philippines POLYTECHNIC UNIVERSITY OF THE PHILIPPINES OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND SATELLITE CAMPUSES PULILAN CAMPUS
Stock Outs and Safety Stocks
Just In Time and Backflush Accounting Factory Labor Rush Jobs Factory Payroll Withholding Tax Table SSS, PHIC and HDMF Table Manufacturing Overhead Allocation of Service Department Costs Week 7 Activity Based Costing Activity Based Costing Traditional Costing Week 8 Job Order Costing Nature of Job Order Costing Job Cost Sheet Actual Costing Method Normal Costing Method Accounting for Scrap Materials Production Losses in Job Order Standard Cost: Job Order Costing System Week 9 Midterm Examination Week 10 – 13 Process Costing Nature of Process Costing Distinction between Job Order and Process Costing Process Cost Flow Cost of Production Report WA - Single Department FIFO – Single Department WA – Multiple Departments Incomplete Data – FIFO Standard Costing in Process Cost Cost of Production Report – Using Standard Cost Lost/Spoiled Units Lost Units – End of Process Lost Units – Other Stages Week 14 – 15 Joint and By-Product Costing Nature of Joint Process Methods of Allocating Joint Costs Sell or Process Further Inventory Valuation
Republic of the Philippines POLYTECHNIC UNIVERSITY OF THE PHILIPPINES OFFICE OF THE VICE PRESIDENT FOR BRANCHES AND SATELLITE CAMPUSES PULILAN CAMPUS
Methods of accounting By-Products
Week 16 - 17 Standard Costing Nature of Standard Costing Advantages of Standard Costing Direct Materials Variance Analysis Direct Labor Variance Analysis Overhead Variance Analysis Week 18 Final Examination
