410-571-VA, Cost Accounting
This course will focus on the role of cost accounting in the planning; control and the evaluation of product costs affecting sell price and profitability. Product costing will extend to the cost accounting process for goods, services or activities. The student will be able to calculate a product cost in a manufacturing environment, using job order and process costing system. Subjects will include control and use of raw materials, direct labour and indirect manufacturing costs (overhead) in the production process. Students will apply the basic elements of product costing through to cost budgeting, comparison with actual accumulation and analysis of variances and how to deal with these variances. The relationship between product costing issues and profitability will be explored.