TABLE OF SPECIFICATIONS

PEN code: ACC 011

Subject: Cost Accounting and Cost Management
Semester: 1st semester
School Year: 1718

Course No. of Item

Goal/Content Learning Objectives (LO) Items/LO Placement
Addressed
Basic Concepts
Cost accounting concept 1 1
Classification of cost 1 2
Inventories maintained by manufacturing company 1 3
System of cost accumulation 1 4
Costing systems 1 5
Manufacturing cost 2 6 to 7
Cost of goods manufactured 1 8
Cost of goods sold 1 9

Purchasing
materials
Economic order quantity 3 10 to 12
Safety stock 2 13 to 14
Reorder point 1 15

Storing and
issuing materials
Issuance of materials 1 16
Principles of internal control 1 17

Materials costing
and control
Inventory costing methods 2 18 - 19
Cost or Net realizable value 1 20
Physical inventory 1 21
Shortage and overage 1 22
Just in time inventory management 1 23

Labor costing and

control
Labor-related costs 1 24
Overtime premium 2 25 - 26
Charge to specific job 1 27
Charge to all production 1 28
Fringe benefits 1 29
Vacation and bonus pay 3 30 - 32
Overhead: Actual
and Applied
Types of overhead rate bases 2 33 - 34
Overapplied and underapplied overhead 2 35 - 36
Disposition of overapplied or underapplied overhead 1 37
Volume and spending variance 4 38 - 41

Departmentalized
overhead rate
Direct departmental overhead costs 1 42
Indirect departmental costs 1 43
Distributing service department costs to producing department:
Direct, Indirect and Algebraic 3 44 - 46

Activity-Based
Costing
Traditional Costing 1 47
Activity-based costing 1 48

Accounting for
Production Losses
in Job Order
Costing System
Accounting for Spoiled Goods 1 49
Accounting for defective goods 1 50

Process Costing:
Nature of
operations

No beginning in
process inventory Cost of production report 1 51
Equivalent units of production 1 52
Unit cost 1 53

Cost of
Production Report
- Average Costing
Equivalent units of production 2 54 - 55
Unit cost 1 56
Ending inventory cost 1 57
Total cost transferred out 1 58

Cost of
Production Report
- FIFO Costing
Equivalent units of production 1 59
 Unit cost 1 60
Ending inventory cost 1 61
Total cost transferred out 2 62 - 63

Cost of
Production
Report: With
Spoiled Units (Use the Guerrero Computation)
Average Method Classification of spoiled units 1 64
Equivalent units of production 1 65
Unit cost 1 69
Ending inventory cost 2 67 - 68

FIFO Equivalent units of production 1 66

Unit cost 2 70 - 71
Ending inventory cost 1 72

Joint Products
and By-Products
Joint costs and the split-off point 1 73
Physica measures 1 74
Sales value at split-off point 1 75
Adjusted sales value 1 76

Standard Costing
Materials variance 1 77
Labor variance 1 78
Overhead variance 1 79

Just in time
manufacturing
system
Benefits of JIT manufacturing systems 1 80
Total 80
S

Item Type

Knowledge Understanding Application Analysis

1
2
3
4
5
6, 7
8
9

10, 11, 12
13, 14
15

16
17

18, 19
20
21
22
23

24
25 - 26
27
28
29
30 - 32
 33 - 34
35 - 36
37
38 - 41

42
43

44 - 46

47
48

49
50

51
52
53

54 - 55
56
57
58

59
 60
61
62 - 63

64
65
69
67 - 68

66
70 - 71
72

73
74
75
76

77
78
79

80