ACC 11 TERM 3 WEEK1 – 4 Cost Accounting

TOPIC – Cost Accounting

Calculation of the following costs in a manufacturing environment:
• variable and fixed costs
• the cost of a product using variable and fixed costs
• unit cost
• contribution per unit
• Breakeven point.
Preparation of ledger accounts of a manufacturing business
Balance Sheet Section:
• raw material stock
• workinprogress stock
• finished goods stock
• consumable stores stock (indirect materials).
Nominal Accounts Section:
• sales
• cost of sales
• raw materials issued
• factory wages
• factory electricity
• factory rent
• depreciation on factory equipment, etc.
Cost Accounts Section:
• direct (raw) materials cost
• direct labour cost
• factory overhead cost
• administration cost
• selling and distribution cost.
Integration of ethical issues related to a manufacturing environment
Integration of internal audit and internal control issues related to a
manufacturing environment