Custom Managerial Accounting (Georgetown)

by Kulp

ISBN: 978-1-61853-457-6 | Copyright 2022

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Managerial Accounting, 9e (pg. 1.32)
Chapter 2 Cost Behavior, Activity Analysis, and Cost Estimation (pg. 1.32)
Cost Behavior Analysis (pg. 1.34)
Four Basic Cost Behavior Patterns (pg. 1.34)
Factors Affecting Cost Behavior Patterns (pg. 1.36)
Review 2-1 Identifying Cost Behavior (pg. 1.37)
Total Cost Function for an Organization or Segment (pg. 1.37)
Relevant Range (pg. 1.38)
Additional Cost Behavior Patterns (pg. 1.40)
Committed and Discretionary Fixed Costs (pg. 1.42)
Review 2-2 Estimating Costs Using a Linear Total Cost Estimating Equation (pg. 1.42)
Cost Estimation (pg. 1.42)
High-Low Cost Estimation (pg. 1.43)
Scatter Diagrams (pg. 1.44)
Least-Squares Regression (pg. 1.45)
Review 2-3 Using the High-Low Method to Estimate Costs (pg. 1.48)
Additional Issues in Cost Estimation (pg. 1.48)
Changes in Technology and Prices (pg. 1.48)
Matching Activity and Costs (pg. 1.49)
Identifying Activity Cost Drivers (pg. 1.49)
Review 2-4 Identifying Appropriate Cost Drivers (pg. 1.49)
Alternative Cost Driver Classifications (pg. 1.49)
Manufacturing Cost Hierarchy (pg. 1.50)
Customer Cost Hierarchy (pg. 1.51)
Review 2-5 Classifying Costs Using a Customer Cost Hierarchy (pg. 1.52)
Guidance Answers (pg. 1.53)
Key Ratios (pg. 1.53)
Key Terms (pg. 1.54)
Multiple Choice (pg. 1.54)
Questions (pg. 1.55)
Mini Exercises (pg. 1.56)
Exercises (pg. 1.58)
Problems (pg. 1.61)
Cases and Projects (pg. 1.63)
Solutions to Review Problems (pg. 1.66)
Chapter 3 Cost-Volume-Profit Analysis and Planning (pg. 1.68)
Cost-Volume-Profit Analysis (pg. 1.70)
Key Assumptions (pg. 1.71)
Profit Formula (pg. 1.72)
Review 3-1 Determining the Profit Equation (pg. 1.74)
Contribution and Functional Income Statements (pg. 1.74)
Functional Income Statement (pg. 1.74)
Contribution Income Statement (pg. 1.74)
Analysis Using Contribution Margin Ratio (pg. 1.75)
Review 3-2 Preparing a Contribution Income Statement (pg. 1.76)
Break-Even Point and Profit Planning (pg. 1.76)
Determining Break-Even Point in Units (pg. 1.76)
Profit Planning (pg. 1.78)
Cost-Volume-Profit Graph (pg. 1.79)
Profit-Volume Graph (pg. 1.79)
Impact of Income Taxes (pg. 1.81)
Review 3-3 Applying Cost-Volume-Profit Analysis (pg. 1.82)
Multiple-Product Cost-Volume-Profit Analysis (pg. 1.82)
Determining Break-Even and Target Profit Sales Dollars (pg. 1.82)
Sales Mix Analysis (pg. 1.84)
Review 3-4 Analyzing Profitability of a Multi-Product Firm (pg. 1.86)
Review 3-5 Applying Operating Leverage Ratio (pg. 1.88)
Appendix 3A: Profitability Analysis with Unit and Nonunit Cost Drivers (pg. 1.88)
Multi-Level Contribution Income Statement (pg. 1.88)
Variations in Multi-Level Contribution Income Statement (pg. 1.90)
Review 3-6 Performing a Customer-Level Profitability Analysis (pg. 1.91)
Guidance Answers (pg. 1.91)
Key Ratios (pg. 1.92)
Key Terms (pg. 1.92)
Multiple Choice (pg. 1.92)
Questions (pg. 1.94)
Mini Exercises (pg. 1.94)
Exercises (pg. 1.96)
Problems (pg. 1.100)
Cases and Projects (pg. 1.105)
Solutions to Review Problems (pg. 1.106)
Chapter 4 Relevant Costs and Benefits for Decision Making (pg. 1.110)
Identifying Relevant Costs (pg. 1.112)
Relevance of Future Revenues (pg. 1.113)
Relevance of Outlay Costs (pg. 1.113)
Irrelevance of Sunk Costs (pg. 1.114)
Sunk Costs Can Cause Ethical Dilemmas (pg. 1.114)
Relevance of Disposal and Salvage Values (pg. 1.115)
Relevance of Opportunity Costs (pg. 1.115)
Review 4-1 Identifying Relevant and Irrelevant Costs (pg. 1.116)
Differential Analysis of Relevant Costs (pg. 1.116)
Review 4-2 Preparing a Differential Analysis of Relevant Costs (pg. 1.117)
Applying Differential Analysis (pg. 1.117)
Multiple Changes in Profit Plans (pg. 1.117)
Review 4-3 Applying Differential Analysis to Alternative Profit Scenarios (pg. 1.119)
Special Orders (pg. 1.119)
Review 4-4 Estimating the Profitability of Special Orders (pg. 1.122)
Outsourcing Decisions (Make or Buy) (pg. 1.122)
Review 4-5 Evaluating an Outsourcing Decision (pg. 1.125)
Sell or Process Further (pg. 1.126)
Evaluating Whether to Sell or Process Further LO6 Review 4-6 (pg. 1.127)
Use of Limited Resources (pg. 1.128)
Single Constraint (pg. 1.128)
Multiple Constraints (pg. 1.129)
Theory of Constraints (pg. 1.129)
Limitations of Decision Analysis Models (pg. 1.130)
Review 4-7 Analyzing Profitability Considering a Scarce Resource (pg. 1.131)
Guidance Answers (pg. 1.131)
Key Terms (pg. 1.131)
Multiple Choice (pg. 1.132)
Questions (pg. 1.133)
Mini Exercises (pg. 1.133)
Exercises (pg. 1.136)
Problems (pg. 1.140)
Cases and Projects (pg. 1.144)
Solutions to Review Problems (pg. 1.147)
Chapter 5 Product Costing: Job and Process Operations (pg. 1.152)
Inventory Costs in Various Organizations (pg. 1.154)
Review 5-1 Classifying Inventory Costs (pg. 1.156)
Inventory Costs for Financial Reporting (pg. 1.156)
Product Costs and Period Costs (pg. 1.156)
Three Components of Product Costs (pg. 1.156)
A Closer Look at Manufacturing Overhead (pg. 1.158)
Review 5-2 Applying a Predetermined Overhead Rate (pg. 1.160)
The Production Environment (pg. 1.160)
Production Files and Records (pg. 1.161)
Review 5-3 Defining Terms in a Production Environment (pg. 1.162)
Job Costing for Products and Services (pg. 1.162)
Job Costing Illustrated (pg. 1.163)
Statement of Cost of Goods Manufactured (pg. 1.168)
Overapplied and Underapplied Overhead (pg. 1.169)
Job Costing in Service Organizations (pg. 1.170)
Review 5-4 Accounting for Costs of Jobs in a Job Costing System (pg. 1.171)
Process Costing (pg. 1.172)
Cost of Production Report (pg. 1.173)
Weighted Average and First-In, First-Out Process Costing (pg. 1.176)
Process Costing in Service Organizations (pg. 1.176)
Review 5-5 Accounting for Costs in a Process Costing System (pg. 1.177)
Appendix 5A: Absorption and Variable Costing (pg. 1.178)
Basic Concepts (pg. 1.178)
Income Under Absorption and Variable Costing (pg. 1.179)
Production Equals Sales (pg. 1.179)
Production Exceeds Sales (pg. 1.179)
Sales Exceed Production (pg. 1.181)
Evaluating Alternatives to Inventory Valuation (pg. 1.182)
Review 5-6 Computing Inventory Costs Under Absorption and Variable Costing (pg. 1.183)
Guidance Answers (pg. 1.183)
Key Ratios (pg. 1.183)
Key Terms (pg. 1.184)
Multiple Choice (pg. 1.184)
Questions (pg. 1.185)
Mini Exercises (pg. 1.186)
Exercises (pg. 1.188)
Problems (pg. 1.192)
Cases and Projects (pg. 1.198)
Solutions to Review Problems (pg. 1.200)
Chapter 6 Activity-Based Costing, Customer Profitability, and Activity-Based Management (pg. 1.206)
Activity-Based Costing (ABC) (pg. 1.208)
Changing Cost Environment (pg. 1.208)
Review 6-1 Identifying Environment Changes that Impact Cost Structures (pg. 1.209)
Activity-Based Costing Concepts (pg. 1.209)
ABC Product Costing Model (pg. 1.210)
Review 6-2 Identifying Relevant Cost Drivers (pg. 1.211)
Traditional Product Costing and ABC Compared (pg. 1.212)
Applying Overhead with a Plantwide Rate (pg. 1.212)
Applying Overhead with Department Rates (pg. 1.212)
Applying Overhead with Activity-Based Costing (pg. 1.214)
Review 6-3 Determining Product Costs Using Traditional and Activity-Based Costing (pg. 1.217)
Implementation of ABC (pg. 1.218)
Limitations of ABC Illustration (pg. 1.218)
Comparing Traditional and Activity-Based Costing (pg. 1.218)
ABC Implementation Issues (pg. 1.219)
Review 6-4 Comparing Product Costs Using Traditional and Activity-Based Costing (pg. 1.220)
ABC and Customer Profitability Analysis (pg. 1.221)
Customer Profitability Profile (pg. 1.221)
ABC Customer Profitability Analysis Illustrated (pg. 1.221)
Review 6-5 Analyzing Customer Profitability (pg. 1.224)
Activity-Based Management (pg. 1.224)
The Difference Between ABC and Activity-Based Management (pg. 1.224)
Review 6-6 Explaining Activity-Based Management (pg. 1.225)
Guidance Answers (pg. 1.225)
Key Terms (pg. 1.226)
Multiple Choice (pg. 1.226)
Questions (pg. 1.227)
Exercises (pg. 1.231)
Problems (pg. 1.234)
Cases and Projects (pg. 1.239)
Solutions to Review Problems (pg. 1.243)
Chapter 9 Operational Budgeting and Profit Planning (pg. 1.308)
Reasons for Budgeting (pg. 1.310)
Compel Planning (pg. 1.310)
Promote Communication and Coordination (pg. 1.310)
Provide a Guide to Action and Basis of Evaluation (pg. 1.311)
Aid in Risk Management (pg. 1.311)
Review 9-1 Discussing the Benefits of Budgeting (pg. 1.312)
General Approaches to Budgeting (pg. 1.312)
Output/Input Approach (pg. 1.312)
Activity-Based Approach (pg. 1.312)
Incremental Approach (pg. 1.312)
Minimum Level Approach (pg. 1.313)
Review 9-2 Applying the Output/Input Approach and Activity-Based Approach to Budgeting (pg. 1.314)
Master Budget (pg. 1.314)
Sales Budget (pg. 1.316)
Purchases Budget (pg. 1.317)
Selling Expense Budget (pg. 1.318)
General and Administrative Expense Budget (pg. 1.318)
Cash Budget (pg. 1.319)
Budgeted Financial Statements (pg. 1.321)
Finalizing the Budget (pg. 1.322)
Review 9-3 Preparing a Budget for a Merchandising Organization (pg. 1.323)
Budget Development in Manufacturing Organizations (pg. 1.323)
Production Budget (pg. 1.324)
Manufacturing Cost Budget (pg. 1.324)
Review 9-4 Preparing a Budget for a Manufacturer (pg. 1.327)
Budget Development and Manager Behavior (pg. 1.327)
Employee Participation (pg. 1.328)
Budgeting Periods (pg. 1.328)
Forecasts (pg. 1.329)
Ethics (pg. 1.329)
Open Book Management (pg. 1.329)
Review 9-5 Identifying Manager Behaviors Related to Operational Budgeting (pg. 1.330)
Guidance Answers (pg. 1.331)
Key Terms (pg. 1.331)
Multiple Choice (pg. 1.331)
Questions (pg. 1.332)
Mini Exercises (pg. 1.333)
Exercises (pg. 1.335)
Problems (pg. 1.339)
Cases and Projects (pg. 1.344)
Solutions to Review Problems (pg. 1.346)
Chapter 10 Standard Costs and Performance Reports (pg. 1.352)
Responsibility Accounting (pg. 1.354)
Performance Reporting and Organization Structures (pg. 1.355)
Types of Responsibility Centers (pg. 1.355)
Financial and Nonfinancial Performance Measures (pg. 1.357)
Review 10-1 Identifying Responsibility Centers (pg. 1.357)
Performance Reporting for Cost Centers (pg. 1.357)
Development of Flexible Budgets (pg. 1.358)
Flexible Budgets Emphasize Performance (pg. 1.358)
Standard Costs and Performance Reports (pg. 1.359)
Review 10-2 Preparing a Flexible Budget for Performance Reporting (pg. 1.360)
Variance Analysis for Costs (pg. 1.360)
Components of Standard Cost Analysis (pg. 1.360)
Establishing and Using Standards for Direct Materials (pg. 1.362)
Review 10-3 Calculating Standard Cost Variances for Direct Materials (pg. 1.364)
Establishing and Using Standards for Direct Labor (pg. 1.364)
Performance Reports for Revenue Centers (pg. 1.369)
Inclusion of Controllable Costs (pg. 1.371)
Revenue Centers as Profit Centers (pg. 1.371)
Review 10-6 Calculating Revenue Variances (pg. 1.372)
Appendix 10A: Fixed Overhead Variances (pg. 1.373)
Review 10-7 Calculating Fixed Overhead Budget Variance (pg. 1.374)
Appendix 10B: Reconciling Budgeted and Actual Income (pg. 1.374)
Review 10-8 Reconciling Budgeted and Actual Contribution Margin (pg. 1.376)
Guidance Answers (pg. 1.376)
Key Ratios (pg. 1.376)
Key Terms (pg. 1.377)
Multiple Choice (pg. 1.377)
Questions (pg. 1.378)
Mini Exercises (pg. 1.378)
Exercises (pg. 1.380)
Problems (pg. 1.382)
Cases and Projects (pg. 1.388)
Solutions to Review Problems (pg. 1.391)
Susan Kulp

Susan Kulp

Susan L. Kulp is Professor of Accountancy at the George Washington University School of Business. She received her Ph.D. at Stanford University. Before joining the George Washington University faculty, Professor Kulp was a faculty member at Harvard Business School.

Professor Kulp’s research focuses on performance measurement, incentive, and internal decision-making issues in inter-organizational relationships. The settings that she examines include supply chain relationships, private partnerships, and government entities. Her research highlights the conflicts between inter-organizational contracts and the control systems in place within the partnering firms. She has published research studies in both accounting and operations management journals, including the Journal of Accounting Research, The Accounting Review, Management Science, Production and Operations Research, and Review of Accounting Studies. Professor Kulp currently services as a Department Editor at Decision Sciences. In addition to her published research studies, Professor Kulp has published several Harvard Business School cases focused on management control.

Professor Kulp has taught managerial accounting to undergraduate, MBA, online MBA, and executive MBA
students. Additionally, she teaches financial accounting to online MBA students. Professor Kulp has won several teaching awards.

Managerial Accounting, 9e (Kulp, Dragoo, Hartgraves, Morse)
Last Updated: Mar 30 2022

Corrections to identified errors in the text.

Data Analytics Files
Last Updated: Jul 30 2021

Data sets for students. To accompany Appendix B: Data Analytics.

Data Analytics Errata
Last Updated: Sep 8 2021

Corrections to identified errors in Appendix B: Data Analytics

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