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COST ACCOUNTING.A Managerial Emphasis FIFTEENTH EDITION Global Edition.Charles T. Horngren

  Judul Buku : COST ACCOUNTING - A Managerial Emphasis FIFTEENTH EDITION Global Edition

Judul Buku:COST ACCOUNTING - A Managerial Emphasis FIFTEENTH EDITION Global Edition
Pengarang:Charles T. Horngren; Srikant M. Datar; Madhav V. Rajan
Cetakan:Fifteenth Edition
Tahun Terbit:2015
Jumlah Halaman:959
Kertas Isi:HVS
Ukuran:22 x 28
Harga:Rp 514,000


COST ACCOUNTING - A Managerial Emphasis FIFTEENTH EDITION Global Edition
Pengarang : Charles T. Horngren; Srikant M. Datar; Madhav V. Rajan
Penerbit : PEARSON


1 The Manager and Managetnent Accounting 24
iTunes Variable Pricing: Downloads Are Down, but Profits Are Up
Financial Accounting, Management Accounting, and Cost Accounting 25
Strategic Decisions and the Management Accountant 27 Value-Chain and Supply-Chain Analysis and Key Success Factors 28
Value-Chain Analysis 28
Supply-Chain Analysis 29
Key Success Factors 30
Decision Making, Planning, and Control: The Five-Step Decision-Making Process 32
Key Management Accounting Guidelines 35 Cost–Benefit Approach 35
Behavioral and Technical Considerations 35 Different Costs for Different Purposes 35
Organization Structure and the Management
Accountant 36
Line and Staff Relationships 36
The Chief Financial Officer and the Controller 36 Management Accounting Beyond the Numbers 37 Professional Ethics 38
Institutional Support 39
Typical Ethical Challenges 39
Problem for Self-Study 41 Decision Points 42 Terms to Learn 43 Assignment Material 43 Questions 43 Exercises 43 Problems 46

2 An Introduction to Cost Terms and PurpoSeS 50
High Fixed Costs Bankrupt Twinkle Maker Costs and Cost Terminology 51
Direct Costs and Indirect Costs 52
Cost Allocation Challenges 53
Factors Affecting Direct/Indirect Cost
Classifications 53
Cost-Behavior Patterns: Variable Costs and Fixed Costs 54
Cost Drivers 56
Relevant Range 57
Relationships Between Types of Costs 58
Total Costs and Unit Costs 58
Unit Costs 58
Use Unit Costs Cautiously 59
Business Sectors, Types of Inventory, Inventoriable Costs, and Period Costs 60
Manufacturing-, Merchandising-, and Service-Sector Companies 60
Types of Inventory 60
Commonly Used Classifications of Manufacturing Costs 60
Inventoriable Costs 61
Period Costs 61
Illustrating the Flow of Inventoriable Costs and Period Costs 62
Manufacturing-Sector Example 62
Recap of Inventoriable Costs and Period Costs 66 Prime Costs and Conversion Costs 67
Measuring Costs Requires Judgment 68
Measuring Labor Costs 68
Overtime Premium and Idle Time 69
Benefits of Defining Accounting Terms 69
Different Meanings of Product Costs 70
A Framework for Cost Accounting and Cost Management 71
Calculating the Cost of Products, Services, and Other Cost Objects 72
Obtaining Information for Planning and Control and Performance Evaluation 72
Analyzing the Relevant Information for Making Decisions 72
Problem for Self-Study 73 Decision Points 75 Terms to Learn 76 Assignment Material 76 Questions 76 Exercises 77 ( Problems 81

3 Cost – Volume – ProfitAnalisys 88
How "The Biggest Rock Show Ever" Turned a Big Profit
Essentials of CVP Analysis 89
Contribution Margin 90
Expressing CVP Relationships 92 Cost–Volume–Profit Assumptions 94
Breakeven Point and Target Operating
Income 95
Breakeven Point 95
Target Operating Income 96
Target Net Income and Income Taxes 98
Using CVP Analysis for Decision Making 99
Decision to Advertise 99
Decision to Reduce the Selling Price 100 Determining Target Prices 100
Sensitivity Analysis and Margin of Safety 101 Cost Planning and CVP 102
Alternative Fixed-Cost/Variable-Cost Structures 102 Operating Leverage 104
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Effects of Sales Mix on Income 106
CVP Analysis in Service and Not-for-Profit Organizations 108
Contribution Margin Versus Gross Margin 109
Problem for Self-Study 110 Decision Points 111 APPENDIX: Decision Models and Uncertainty 112
Terms to Loam 115 1 Assignment Material 115 Questions 115 1 Exercises 116 1 Problems 120

4        Costing 128
Job Costing and "Green" Home Construction Building-Block Concepts of Costing Systems 129 Job-Costing and Process-Costing Systems 130 Job Costing: Evaluation and Implementation 132
Time Period Used to Compute Indirect-Cost
Rates 133
Normal Costing 134
General Approach to Job Costing Using Normal Costing 134
The Role of Technology 139
Actual Costing 140
A Normal Job-Costing System in
Manufacturing 142
General Ledger 143
Explanations of Transactions 144
Subsidiary Ledgers 145
Nonmanufacturing Costs and Job Costing 149 Budgeted Indirect Costs and End-of-Accounting-Year Adjustments 149
Underallocated and Overallocated Indirect Costs 149
Adjusted Allocation-Rate Approach 150 Proration Approach 150
Writeoff to Cost of Goods Sold Approach 152 Choosing Among Approaches I53
Variations from Normal Costing: A Service-Sector Example 154
Problem for Self-Study 155 Decision Points 157 Terms to Leam 158 Assignment Material 158 Questions 158 Exercises 159 Problems 165

Activity-Based Costing and Activity-Based Management 172
LG Electronics Reduces Costs and Inefficiencies Through Activity-Based Costing
Broad Averaging and Its Consequences 173 Undercosting and Overcosting 173
Product-Cost Cross-Subsidization 174
Simple Costing System at Plastim Corporation 174 Design, Manufacturing, and Distribution
Processes 175
Simple Costing System Using a Single Indirect-Cost Pool 176
Applying the Five-Step Decision-Making Process at Plastim 177
Refining a Costing System 179
Reasons for Refining a Costing System 179 Guidelines for Refining a Costing System 179 Activity-Based Costing Systems 180
Plastim's ABC System 180
Cost Hierarchies 183
Implementing Activity-Based Costing 184
Implementing ABC at Plastim 184
Comparing Alternative Costing Systems 188 Considerations in Implementing Activity-Based Costing Systems 189
Benefits and Costs of Activity-Based Costing Systems 189
Behavioral Issues in Implementing Activity-Based Costing Systems 190
Activity-Based Management 191
Pricing and Product-Mix Decisions 191
Cost Reduction and Process Improvement
Decisions 191
Design Decisions 192
Planning and Managing Activities 192 Activity-Based Costing and Department Costing Systems 193
ABC in Service and Merchandising Companies 194
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Problem for Self-Study 195 Decision Points 198 Terms to Learn 199 Assignment Material 199 Questions 199 Exercises 200 Problems 208

Master Budget and Responsibi Accounting 218
"Scrimping" at the Ritz: Master Budgets Budgets and the Budgeting Cycle 220
Strategic Plans and Operating Plans 220
Budgeting Cycle and Master Budget 221 Advantages and Challenges of Implementing
Budgets 221
Promoting Coordination and Communication 221 Providing a Fxamewdrk for Judging Performance and Facilitating Learning 222
Motivating Managers and Other Employees 223 Challenges in Administering Budgets 223 Developing an Operating Budget 223
Time Coverage of Budgets 224
Steps in Preparing an Operating Budget 224 Financial Planning Models and Sensitivity
Analysis 235
Budgeting and Responsibility Accounting 237 Organization Structure and Responsibility 238 Feedback 238
Responsibility and Controllability 239
Human Aspects of Budgeting 240
Budgetary Slack 240
Stretch Targets 241
Kaizen Budgeting 242
Budgeting in Multinational Companies 243
Problem for Self-Study 244 Decision Points 245 APPENDIX: The Cash Budget 246
Terms to Learn 252 Assignment Material 252 Questions 252 Exercises 252 Problems 257

7 Flexible Budgets, Direct Cost Variances, and Management Control
C C4 i I 1    270
SingaDeli Bakery
Static Budgets and Variances 271
The Use of Variances 271
Static Budgets and Static-Budget Variances 272 Flexible Budgets 274
Flexible-Budget Variances and Sales-Volume Variances 275
Sales-Volume Variances 275
Flexible-Budget Variances 276
Standard Costs for Variance Analysis 278
Obtaining Budgeted Input Prices and Budgeted Input Quantities 278
Price Variances and Efficiency Variances for Direct-Cost Inputs 280
Price Variances 280
Efficiency Variance 281
Journal Entries Using Standard Costs 283 Implementing Standard Costing 285
Management's Use of Variances 286 Multiple Causes of Variances 286 When to Investigate Variances 287 Using Variances for Performance
Measurement 287
Organization Learning 288
Continuous Improvement 288
Financial and Nonfinancial Performance Measures 288
Benchmarking and Variance Analysis 289
Problem for Self-Study 290 Decision Points 292 APPENDIX: Mix and Yield Variances for Substitutable Inputs 292
Terms to Leam 296 Assignment Material 296 Questions 296 Exercises 297 Problems 301

8 Flexible Budgets, Overhead Cost Variances, and Management Control
Planning Fixed and Variable Overhead Costs at Tesla Motors
Planning of Variable and Fixed Overhead Costs 311 Planning Variable Overhead Costs 311 Planning Fixed Overhead Costs 312
Standard Costing at Webb Company 312 Developing Budgeted Variable Overhead
Rates 313
Developing Budgeted Fixed Overhead Rates 313 Variable Overhead Cost Variances 315 Flexible-Budget Analysis 315
Variable Overhead Efficiency Variance 315 Variable Overhead Spending Variance 317 Journal Entries for Variable Overhead Costs and
Variances 318
Fixed Overhead Cost Variances 319 Production-Volume Variance 320
Interpreting the Production-Volume Variance 321 Journal Entries for Fixed Overhead Costs and
Variances 322
Integrated Analysis of Overhead Cost Variances 325 4-Variance Analysis 325
Combined Variance Analysis 327
Production-Volume Variance and Sales-Volume
Variance 327
Variance Analysis and Activity-Based Costing 329 Flexible Budget and Variance Analysis for Direct Materials-Handling Labor Costs 330
Flexible Budget and Variance Analysis for Fixed Setup Overhead Costs 332
Overhead Variances in Nonmanufacturing
Settings 334
Financial and Nonfinancial Performance
Measures 334
Problem for Self-Study 335 Decision Points 337 Terms to Learn 338 Assignment Material 338 Questions 338 Exercises 338 Problems 343

Inventory arcing and Capacity Analysis 350
Lean Manufacturing Helps Companies Reduce Inventory and Survive the Recession
Variable and Absorption Costing 351 Variable Costing 351
Absorption Costing 352
Comparing Variable and Absorption Costing 352
Variable vs. Absorption Costing: Operating Income and Income Statements 353
Comparing Income Statements for One Year 353
Comparing Income Statements for Multiple Years 355
Variable Costing and the Effect of Sales and
Production on Operating Income 358 Absorption Costing and Performance
Measurement 359
Undesirable Buildup of Inventories 361
Proposals for Revising Performance
Evaluation 362
Comparing Inventory Costing Methods 363 Throughput Costing 363
A Comparison of Alternative Inventory-Costing Methods 364
Denominator-Level Capacity Concepts and Fixed-Cost Capacity Analysis 365
Absorption Costing and Alternative Denominator-Level Capacity Concepts 365
Effect on Budgeted Fixed Manufacturing Cost Rate 366
Choosing a Capacity Level 367
Product Costing and Capacity Management 367 Pricing Decisions and the Downward Demand Spiral 368
Performance Evaluation 369
External Reporting 370
Tax Requirements 373
Planning and Control of Capacity Costs 373 Difficulties in Forecasting Chosen Denominator-Level Concept 373
Difficulties in Forecasting Fixed Manufacturing Costs 374
Nonmanufacturing Costs 374
Activity-Based Costing 374
Problem for Self-Study 375 1 Decision Points 377
APPENDIX: Breakeven Points in Variable Costing and Absorption Costing 378
Terms to Learn 380 1 Assignment Material 380 Questions 380 1 Exercises 380 1 Problems 386

10 Determining How Costs BehaVe 392
Cisco Understands Its Costs While Helping the Environment
Basic Assumptions and Examples of Cost Functions 393
Basic Assumptions 393
Linear Cost Functions 394
Review of Cost Classification 395 Identifying Cost Drivers 396
The Cause-and-Effect Criterion 396 Cost Drivers and the Decision-Making Process 397
Cost Estimation Methods 398
Industrial Engineering Method 398 Conference Method 399
Account Analysis Method 399 Quantitative Analysis Method 400
Estimating a Cost Function Using Quantitative Analysis 401
High-Low Method 403
Regression Analysis Method 405
Evaluating and Choosing Cost Drivers 406 Cost Drivers and Activity-Based Costing 409
Concepts (11 ,I                             f-'osiurq
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Nonlinear Cost Functions 410
Learning Curves 411
Cumulative Average-Time Learning Model 412 Incremental Unit-Time Learning Model 413 Incorporating Learning-Curve Effects into Prices
and Standards 414
Data Collection and Adjustment Issues 415
Problem for Self-Study 417 Decision Points 419 APPENDIX: Regression Analysis 420
Terms to Learn 429 Assignment Material 429 Questions 429 Exercises 430 Problems 436

11 Decision Making and Relevant Information 446
Relevant Costs, JetBlue, and Twitter
Information and the Decision Process 447 The Concept of Relevance 448
Relevant Costs and Relevant Revenues 448 Qualitative and Quantitative Relevant Information 449
One-Time-Only Special Orders 450
Potential Problems in Relevant-Cost
Analysis 452
Short-Run Pricing Decisions 453
Insourcing-Versus-Outsourcing and Make-or-Buy Decisions 454
Outsourcing and Idle Facilities 454
Strategic and Qualitative Factors 456 International Outsourcing 456
The Total Alternatives Approach 457
The Opportunity-Cost Approach 458
Carrying Costs of Inventory 460
Product-Mix Decisions with Capacity Constraints 462 Bottlenecks, Theory of Constraints, and Throughput-Margin Analysis 463
Customer Profitability and Relevant Costs 466 Relevant-Revenue and Relevant-Cost Analysis of Dropping a Customer 467
Relevant-Revenue and Relevant-Cost Analysis of Adding a Customer 468
Relevant-Revenue and Relevant-Cost Analysis of Closing or Adding Branch Offices or Business Divisions 469
Irrelevance of Past Costs and Equipment-Replacement Decisions 470
Decisions and Performance Evaluation 472
Problem for Self-Study 473 Decision Points 475 APPENDIX: Linear Programming 476
Terms to Learn 480 Assignment Material 480 Questions 480 Exercises 480 Problems 486

12 Strategy, Balanced Scorecard, and Strategic Profitability Analisys
The Balanced Scorecard at Volkswagen do Brasil What Is Strategy? 495
Building Internal Capabilities: Quality Improvement and Reengineering at Chipset 497
Strategy Implementation and the Balanced
Scorecard 498
The Balanced Scorecard 498
Strategy Maps and the Balanced Scorecard 499 Implementing a Balanced Scorecard 502 Different Strategies Lead to Different
Scorecards 503
Environmental and Social Performance
and the Balanced Scorecard 504
Features of a Good Balanced Scorecard 507 Pitfalls in Implementing a Balanced Scorecard 508 Evaluating the Success of Strategy and
Implementation 509
Strategic Analysis of Operating Income 509 Growth Component of Change in Operating Income 511
Price-Recovery Component of Change in Operating Income 513
Productivity Component of Change in Operating Income 514
Further Analysis of Growth, Price-Recovery, and Productivity Components 515
Applying the Five-Step Decision-Making Framework to Strategy 517
Downsizing and the Management of Processing Capacity 518
Engineered and Discretionary Costs 518
Identifying Unused Capacity for Engineered and Discretionary Overhead Costs 519
Managing Unused Capacity 519
Problem for Self-Study 520 Decision Points 524 APPENDIX: Productivity Measurement 525
Terms to Learn 527 Assignment Material 528 Questions 528 Exercises 528 Problems 531

13 Pricing Decisions and Cost Management 538
Fair and Square: Not What J. C. Penney Customers Wanted
Major Factors that Affect Pricing Decisions 539 Customers 539
Competitors 539
Costs 539
Weighing Customers, Competitors, and Costs 540
Costing and Pricing for the Long Run 540 Calculating Product Costs for Long-Run Pricing
Decisions 541
Alternative Long-Run Pricing Approaches 543 Market-Based Approach: Target Costing for Target Pricing 544
Understanding Customers' Perceived
Value 545
Competitor Analysis 545
Implementing Target Pricing and Target
Costing 545
Value Engineering, Cost Incurrence, and Locked-In Costs 547
Value-Chain Analysis and Cross-Functional
Teams 548
Achieving the Target Cost per Unit for Provalue 548 Cost-Plus Pricing 551
Cost-Plus Target Rate of Return on
Investment 551
Alternative Cost-Plus Methods 552
Cost-Plus Pricing and Target Pricing 553
Life-Cycle Product Budgeting and Costing 553 Life-Cycle Budgeting and Pricing Decisions 554 Managing Environmental Costs 555
Customer Life-Cycle Costing 555
Non-Cost Factors In Pricing Decisions 556
Price Discrimination 556 Peak-Load Pricing 556 International Pricing 557
Antitrust Laws and Pricing Decisions 557
Problem for Self-Study 558 Decision Points 560 Terms to Learn 561 Assignment Material 561 Questions 561 Exercises 562 Problems 566

14 Cost Allocation, Customer-Profitability Analisys, and Sales-Variance Analisys
Globe Express Servicese (Overseas Group): Analyzing Customers at United Arab Emirates Branch Customer-Profitability Analysis 573
Customer-Revenue Analysis 573
Customer-Cost Analysis 574
Customer-Level Costs 575
Customer Profitability Profiles 578
Presenting Profitability Analysis 579
Using the Five-Step Decision-Making
Process to Manage Customer
Profitability 581
Cost Hierarchy-Based Operating Income
Statement 582
Criteria to Guide Cost Allocations 584
Fully Allocated Customer Profitability 586
Implementing Corporate and Division Cost
Allocations 586
Issues in Allocating Corporate Costs to Divisions
and Customers 590
Using Fully Allocated Costs for Decision Making 591 Sales Variances 591
Static-Budget Variance 592
Flexible-Budget Variance and Sales-Volume
Variance 593 Sales-Mix Variance 594
Sales-Quantity Variance 594
Market-Share and Market-Size Variances 595 Market-Share Variance 596
Market-Size Variance 596
Problem for Self-Study 598 Decision Points 599 Terms to Learn 600 Assignment Material 600 Questions 600 Exercises 601
Problems 605

15 Allocation  of Support-Department Costs., Common Cost, and Revenues
Cost Allocation and the Future of "Smart Grid" Energy Infrastructure
Allocating Support Department Costs
Using the Single-Rate and Dual-Rate Methods 615
Single-Rate and Dual-Rate Methods 616 Allocation Based on the Demand for (or Usage of) Materials-handling Services 617
Allocation Based on the Supply of
Capacity 618
Advantages and Disadvantages of Single-Rate Method 619
Advantages and Disadvantages of Dual-Rate Method 620
Budgeted Versus Actual Costs and the Choice of Allocaton Base 620
Budgeted Versus Actual Rates 621
Budgeted Versus Actual Usage 621
Fixed-Cost Allocation Based on Budgeted Rates and Budgeted Usage 621
Fixed-Cost Allocation Based on Budgeted Rates and Actual Usage 622
Allocating Budgeted Fixed Costs Based on Actual Usage 622
Allocating Costs of Multiple Support
Departments 623
Direct Method 626
Step-Down Method 627
Reciprocal Method 628
Overview of Methods 631
Calculating the Cost of Job WPP 298 632 Allocating Common Costs 633
Stand-Alone Cost-Allocation Method 634 Incremental Cost-Allocation Method 634
Cost Allocations and Contract Disputes 635 Contracting with the U.S. Government 635 Fairness of Pricing 636
Bundled Products and Revenue Allocation Methods 636
Bundling and Revenue Allocation 636
Stand-Alone Revenue-Allocation
Method 638
Incremental Revenue-Allocation
Method 639
Problem for Self-Study 641 Decision Points 643 Terms to Learn 643 Assignment Material 644 Questions 644 Exercises 644 Problems 648

16 Cost Allocation: Joint Products and Byproducts
Joint Cost Allocation and the Production of Ethanol Fuel
Joint-Cost Basics 655
Allocating Joint Costs 657
Approaches to Allocating Joint Costs 657
Sales Value at Splitoff Method 659
Physical-Measure Method 660
Net Realizable Value Method 661
Constant Gross-Margin Percentage NRV
Method 663
Choosing an Allocation Method 665
Not Allocating Joint Costs 666
Why Joint Costs Are Irrelevant for Decision
Making 666
Sell-or-Process-Further Decisions 666
Decision Making and Performance Evaluation 667 Pricing Decisions 667
Accounting for Byproducts 668
Production Method: Byproducts Recognized
at Time Production Is Completed 669
Sales Method: Byproducts Recognized at Time of Sale 670
Problem for Self-Study 671 Decision Points 673 Terms to Learn 674 Assignment Material 674 Questions 674 Exercises 675 Problems 679

17 Process Costing 686
ExxonMobil and Accounting Differences
in the Oil Patch
Illustrating Process Costing 687
Case 1: Process Costing with No Beginning or Ending Work-in-Process Inventory 688
Case 2: Process Costing with Zero Beginning and Some
Ending Work-in-Process Inventory 689
Summarizing the Physical Units and Equivalent Units
(Steps 1 and 2) 690
Calculating Product Costs (Steps 3, 4, and 5) 691 Journal Entries 693
Case 3: Process Costing with Some Beginning and Some Ending Work-in-Process Inventory 694 Weighted-Average Method 695
First-In, First-Out Method 698
Comparing the Weighted-Average and FIFO
Methods 701
Transferred-In Costs in Process Costing 703 Transferred-In Costs and the Weighted-Average Method 704
Transferred-In Costs and the FIFO Method 705 Points to Remember About Transferred-In
Costs 706
Hybrid Costing Systems 707
Concepts in Actiou.: Hvill.ric Costing tot Shoes at Adircja,.
Overview of Operation-Costing Systems 708 Illustrating an Operation- Costing System 709 Journal Entries 710
Problem for Self-Study 711 Decision Points 713 APPENDIX: Standard-Costing Method of Process Costing 714
Terms to Learn 718 Assignment Material 718 Questions 718 Exercises 718 Problems 722

18 Spoilage, Rework, and Scrap 728
Rework and Delays on the Boeing Dreamliner Defining Spoilage, Rework, and Scrap 729 Two Types of Spoilage 730
Normal Spoilage 730
Abnormal Spoilage 730
Spoilage in Process Costing Using Weighted-Average and FIFO 731
Count All Spoilage 731
Five-Step Procedure for Process Costing with Spoilage 732
Weighted-Average Method and Spoilage 733 FIFO Method and Spoilage 736
Journal Entries 736
Inspection Points and Allocating Costs of Normal Spoilage 736
Job Costing and Spoilage 739
Job Costing and Rework 740
Accounting for Scrap 741
Recognizing Scrap at the Time of Its Sale 742 Recognizing Scrap at the Time of Its Production 743
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Problem for Self-Study 745 Decision Points 745 APPENDIX: Standard-Costing Method and Spoilage 746
Terms to Learn 748 Assignment Material 748 Questions 748 Exercises 749 Problems 752

19 Balanced Scorecard: Quality and Time 756
Toyota Plans Changes After Millions of Defective Cars Are Recalled
Quality as a Competitive Tool 757
The Financial Perspective: The Costs of Quality 758 Using Nonfinancial Measures to Evaluate and Improve Quality 761
The Customer Perspective: Nonfinancial Measures of Customer Satisfaction 761
The Internal-Business-Process Perspective: Analyzing
Quality Problems and Improving Quality 761
Nonfinancial Measures of Internal-Business-Process
Quality 764
The Learning-and Growth Perspective: Quality Improvements 764
Weighing the Costs and Benefits of Improving Quality 765
Evaluating a Company's Quality Performance 766 Time as a Competitive Tool 767
Customer-Response Time and On-Time
Performance 767
Bottlenecks and Time Drivers 768
Ove, ming Wireless Data
Relevant Revenues and Costs of Delays 771 Balanced Scorecard and Time-Based Measures 772
Problem for Self-Study 773 Decision Points 774 Terms to Learn 775 Assignment Material 775 Questions 775 Exercises 776 Problems 781

20 Inventory Management, Just-In-Time, and Simplified Costing Metods
Costco Aggressively Manages Its Inventory to Thrive in Tough Times
Inventory Management in Retail Organizations 787 Costs Associated with Goods for Sale 787 The Economic-Order-Quantity Decision
Model 788
When to Order, Assuming Certainty 791 Safety Stock 791
Estimating Inventory-Related Relevant Costs and Their Effects 793
Cost of a Prediction Error 793
Conflicts Between the EOQ Decision Model and Managers' Performance Evaluation 794 Just-in-Time Purchasing 795
JIT Purchasing and EOQ Model Parameters 795 Relevant Costs of JIT Purchasing 795
Supplier Evaluation and Relevant Costs of Quality
and Timely Deliveries 797
JIT Purchasing, Planning and Control, and Supply-Chain Analysis 799
Inventory Management, MRP, and JIT Production 799 Materials Requirements Planning 799 Just-in-Time (JIT) Production 800 Features of JIT Production Systems 800 Costs and Benefits of JIT Production 800 JIT in Service Industries 801
Enterprise Resource Planning (ERP) Systems 801
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Performance Measures and Control in JIT Production 802
Effect of JIT Systems on Product Costing 803 Backflush Costing 803
Simplified Normal or Standard Costing
Systems 803
Special Considerations in Backflush Costing 811 Lean Accounting 811
Problems for Self-Study 814 Decision Points 815 Terms to Learn 816 Assignment Material 816 Questions 816 Exercises 817 Problems 819

21 Capital Budgeting and Cost Analysis 824
Capital Budgeting Powers Decisions at the TVA
Stages of Capital Budgeting 825 Discounted Cash Flow 828
Net Present Value Method 828
Internal Rate-of-Return Method 830
Comparing the Net Present Value and Internal
Rate-of-Return Methods 831
Sensitivity Analysis 832
Payback Method 833
Uniform Cash Flows 833
Nonuniform Cash Flows 834
Accrual Accounting Rate-of-Return Method 836 Relevant Cash Flows in Discounted Cash Flow
Analysis 837
Relevant After-Tax Flows 837
Categories of Cash Flows 839
Project Management and Performance Evaluation 842
Post-Investment Audits 843
Performance Evaluation 843
Strategic Considerations in Capital Budgeting 844 Concepts, iii Actio:i:
all 'J,3owy
Investment in Research and Development 845 Customer Value and Capital Budgeting 845
Problem for Self-Study 846 Decision Points 848 APPENDIX: Capital Budgeting and Inflation 849
Terms to Learn 851 Assignment Material 852 Questions 852 Exercises 852 Problems 857 Answers to Exercises in Compound Interest
(Exercise 21-16) 860

22 Management Control Systems, Transfer Pricing, and Multinational Considerations 862
Transfer Pricing Disputes and Tax Issues Stop
Collaborations Between Subunits of Mehr Co. Management Control Systems 863
Formal and Informal Systems 864
Effective Management Control 864 Decentralization 865
Benefits of Decentralization 865 Costs of Decentralization 866 Comparing Benefits and Costs 867 Decentralization ip Multinational Companies 867 Choices About Responsibility Centers 868
Transfer Pricing 868
Criteria for Evaluating Transfer Prices 869 Calculating Transfer Prices 869
An Illustration of Transfer Pricing 869 Market-Based Transfer Prices 872 Perfectly-Competitive-Market Case 872
Distress Prices 873
Imperfect Competition 873
Cost-Based Transfer Prices 874
Full-Cost Bases 874
Variable-Cost Bases 875
Hybrid Transfer Prices 876
Prorating the Difference Between Maximum and' Minimum Transfer Prices 876
Negotiated Pricing 877
Dual Pricing 878
A General Guideline for Transfer-Pricing Situations 878 How Multinationals Use Transfer Pricing to Minimize their Taxes 880
Transfer Prices Designed for Multiple Objectives 883
Problem for Self-Study 884 Decision Points 886 Terms to Learn 887 Assignment Material 887 Questions 887 Exercises 887 Problems 697

23 Performance Measurement, Compensation, and Multinational Considerations 896
Misalignment Between CEO Compensation
and Performance at AIG
Financial and Nonfinancial Performance Measures 897 Accounting-Based Measures for Business Units 898
Return on Investment 899
Residual Income 901
Economic Value Added 902 Return on Sales 903
Comparing Performance Measures 904
Choosing the Details of the Performance
Measures 904
Alternative Time Horizons 904
Alternative Definitions of Investment 905 Alternative Asset Measurements 906
Target Levels of Performance and Feedback 908 Choosing Target Levels of Performance 908 Choosing the Timing of Feedback 909
Performance Measurement in Multinational
Companies 909
Calculating a Foreign Division's ROI in the Foreign Currency 910
Calculating the Foreign Division's ROI in U.S. Dollars 910
Distinguishing the Performance of Managers From the Performance of Their Subunits 911
The Basic Tradeoff: Creating Incentives Versus Imposing Risk 912
Intensity of Incentives and Financial
and Nonfinancial Measurements 913 Benchmarks and Relative Performance Evaluation 913 Performance Measures at the Individual Activity
Level 914
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Executive Performance Measures and Compensation 915
Strategy and Levers of Control 916 Boundary Systems 917
Belief Systems 917
Interactive Control Systems 918
Problems for Self-Study 918 Decision Points 920 Terms to Learn 921 Assignment Material 921 Questions 921 Exercises 921 Problems 926

Appendix A: Notes on Compound Interest and Interest Tables 931
Appendix B: Recommended Readings—available online
Appendix C: Cost Accounting in Professional Examination—available online
Glossary 939
Index 950
Photo Credits 960


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