Principles of Cost Accounting 15 Ed Edward J. Vanderbeck Free Download

Principles of Cost Accounting 15 Ed Edward J. Vanderbeck Free Download 

Principles of Cost Accounting 15 Ed Edward J. Vanderbeck Free Download
BRIEF CONTENTS
Chapter 1 Introduction to Cost Accounting 1


Chapter 2 Accounting for Materials 63
Chapter 3 Accounting for Labor 123
Chapter 4 Accounting for Factory Overhead 169
Chapter 5 Process Cost Accounting—General Procedures 237
Chapter 6 Process Cost Accounting—Additional Procedures;
Accounting for Joint Products and By-Products 287
Chapter 7 The Master Budget and Flexible Budgeting 337
Chapter 8 Standard Cost Accounting—Materials, Labor, and
Factory Overhead 379
Chapter 9 Cost Accounting for Service Businesses and the
Balanced Scorecard 447
Chapter 10 Cost Analysis for Management Decision Making 481
Glossary 531
Index 543
Principles of Cost Accounting 15 Ed Edward J. Vanderbeck Free Download
CHAPTER 2
Accounting for Materials
Raw materials costs are not just a concern of manufacturers. An
article, ‘‘Restaurant Costs Harder to Stomach,’’ in the June 7,
2008 Cincinnati Enquirer, explained how rapidly food costs were
rising and how difficult it was to pass those costs on to diners in
a sluggish economy. Bob Conway Jr., vice president of Bistro
Group, which operates Friday’s, McAlister’s, and Karlo’s in the
Greater Cincinnati area, said that in the past six months, ‘‘Food
prices increased more than anyone in the industry thought they
would. Pasta went up 130 percent. Other big jumps have been
eggs up 73 percent and rice up 39 percent . . . flour jumped
87 percent in the first three months of 2008 and fats and oils
were up 49 percent.’’
What cost management techniques must purchasers of raw
materials employ to survive in such a difficult environment? This
chapter will discuss basic aspects of materials control, internal
control procedures for materials, and adoption of a lean production
manufacturing systemto maximize efficiency and minimize waste.
The total inventory cost of a manufactured product consists of the
expenditures made for raw materials, direct labor, and its fair
share of factory overhead. The principles and procedures for
controlling and accounting for these cost elements are discussed in Chapters
2, 3, and 4, respectively. Each chapter examines the accounting
procedures and controls that apply to one of the cost elements. Certain
procedures and controls, however, pertain to all of the cost elements. The
major function of a cost control system is to keep expenditures within the
limits of a preconceived plan. The control system should also encourage

Principles of Cost Accounting 15 Ed Edward J. Vanderbeck Free Download
Learning Objectives
After studying this
chapter, you should
be able to:
LO1 Recognize the
two basic
aspects of materials
control.
LO2 Specify
internalcontrol
procedures for
materials.
LO3 Account for
materials and
relate materials
accounting to the
general ledger.
LO4 Account for
inventories in
a just-in-time (lean
production) system.
LO5 Account for
scrap materials,
spoiled goods,
and defective work

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