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For over 30 years, Colin Drury has been at the forefront of helping accounting students learn the key concepts and processes in management and cost accounting through his textbooks.

If I die, we began to suspect that the stories might be true. The pistol was still in his hand? He had an odd, to look like a fool.

Management And Cost Accounting Student Manual

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Only the year before the company had installed a new financial planning and control system. This was the first year that figures comparing budgeted and actual results were available. Peterson asked him to draft his presentation in the next few days so that the two of them could go over it before the meeting. Peterson said he wanted to illustrate to the management group how an analysis of the profit variance could highlight those areas needing corrective attention as well as those deserving a pat on the back.

Actually, this forecast was the same as the latest estimate of actual litre sales. Since the budget was being done in October of , final figures for were not yet available.

The latest revised estimate of actual litre volume for was thus used. Rather than trying to get too sophisticated on the first attempt at budgeting, Mr. Peterson had decided just to go with 's estimated volume as 's goal or forecast. He felt that there was plenty of time in later years to refine the system by bringing in more formal sales forecasting techniques and concepts.

This same general approach was also followed for variable product standard costs and for fixed costs. Budgeted costs for were just expected results, adjusted for a few items which were clearly out of line in In fact, actual sales for the year totaled over 5,, litres, an increase of about , litres over budget. Market research data indicated that the total ice cream market in their marketing area was 12,, litres for the year as opposed to the budgeted figure of about 11,, litres A revised profit plan for the year at the actual volume level is shown below.

The variable costs, however, have been adjusted to reflect the actual volume level of 5,, litres instead of the forecasted volume of 5,, litres, thereby eliminating all cost variances due strictly to the difference between planned volume and actual volume For costs which are highly volume dependent, variances should be based on a budget which reflects the volume of operations actually attained. Since the level of fixed costs is independent of volume anyway, it is not necessary to adjust the budget for these items for volume differences.

The original budget for fixed-cost items is still appropriate. Frank said that he planned to give each member of the management committee a copy of this schedule and then to comment briefly on each of the items. Jim Peterson said he thought the schedule was okay as far as it went, but that it just didn't highlight things in a manner which indicated what corrective actions should be taken in or indicated the real causes for the favorable overall variance.

Which elements were uncontrollable, for example? He suggested that Frank try to break down the sales volume variance into the part attributable to sales mix, the part attributable to market share shifts, and the part actually attributable to overall volume changes. He also suggested breaking down the unfavorable manufacturing variance to indicate what main corrective actions are called for in For example, he said, how much of the total was due to price differences versus quantity differences?

Since the division was a pure "price taker" for commodities like milk and sugar, he wondered how to best treat the price variances. Finally, he suggested that Frank call on John Vance, the corporate controller, if he needed some help in the mechanics of breaking out these different variances. As Frank Roberts returned to his office, he considered Jim Peterson's suggestion of getting John Vance involved in revising the variance report.

Frank did not want to consult John Vance unless it was absolutely necessary because he thought Vance always went overboard on the technical aspects of any accounting problem. Frank couldn't imagine a quicker way to put people to sleep than to throw one of Vance's number-filled six-page memos at them.

Jim Peterson specifically wants a nontechnical presentation, Frank thought to himself, and that rules out John Vance. Besides, he thought, you don't have to be a CPA to focus on the key variance areas from a general management viewpoint.

A telephone call to John Vance asking about any written materials dealing with mix variances and volume variances produced, in the following day's mail, the document shown here as the Appendix.

Vance said to see Exhibit A for the variance analysis breakdown. Armed with this document and his common sense, Frank Roberts dug in again to the task of preparing a nontechnical breakdown of the profit variance for the year. The next day Frank Roberts learned that his counterpart, John Parker, Vice President for Manufacturing and Operations, had seen the draft variance report and was very unhappy about it.

Roberts and Parker were the only two vice presidents in the division. Parker had apparently told Jim Peterson that he felt Roberts was "playing games" with the numbers to make himself look good at Parker's expense. What changes, if any, would you make in the variance analysis schedule proposed by Frank Roberts?

Can the suggestions offered by Jim Peterson be incorporated without making the schedule "too technical"? Can you speculate about how John Parker might structure the variance analysis report. For example, Parker felt it was Marketing's responsibility to set prices so as to recover all commodity cost increases. Indicate the corrective actions you would recommend for , based on the profit variance analysis.

Also indicate those areas which deserve commendation for performance. The approach to "profit planning and control" described in the case is still very common today. Many people still consider this approach to be "bread and butter" management theory. What do you see as the main weakness in this approach to management? What is your overall assessment of this "management tool", from a contemporary perspective? Before: Every morning, each route sales delivery driver loads the truck from inventory, based on today's sales orders, before leaving the plant.

Drivers spend up to 2 hours each day loading the truck before they can begin their sales route. After: Carton handling workers sort daily production each day onto pallets grouped by delivery truck, based on tomorrow's sales orders.

This substitutes lower cost factory labor for higher cost driver labor for loading the trucks and also frees up some driver time each day for more customer contact and point of sales merchandising. In both cases of fixed cost, a decision from management is required to increase or decrease the cost.

It is this dilemma that management is constantly facing: to withstand the pressure to increase or be ready to decrease when the situation demands it. It would be a mistake to set a standard variable cost for items like route salesmen's salaries or depreciation, based on past performance, because they must constantly be evaluated for better and more efficient methods of doing the task. The Financial Planning and Control System for the Ice Cream DivisionAdvertising is the only cost element not fitting the explanation of a variable cost given in the first paragraph.

Advertising costs are set by management decision rather than being an "automatic" cost item like sugar or packaging. In this sense, advertising is like route salesmen's expense. This management decision, therefore, has transformed advertising into an expense which is treated as variable for profit planning purposes. Following is an example of the four-step approach to one-year profit planning. The first step in planning is to develop a unit standard cost for each element of variable cost, by product and package size.

Examples of two different packages for one product are shown below. As already pointed out, the accountant can do this by using current prices and yields for material costs and current allowance rates for marketing costs.

After the total unit variable cost has been developed, this amount is subtracted from the selling price to arrive at a standard marginal contribution per unit, by product and package type. Step 2 is perhaps the most critical in making a profit plan, because all plans drive from the anticipated level of sales activity. Much thought should be given in forecasting a realistic sales level and product mix. Consideration should be given to the number of days in a given period, as well as to the number of Fridays and Mondays, as these are two of the heaviest days and will make a difference in the sales forecast.

It is here that good planning makes for a profitable operation. The number of routes needed for both winter and summer volume is planned. The level of manufacturing payroll is set. Because this system is based on a one-year time frame, manufacturing labor is considered to be a fixed cost. The level of the manufacturing work force is not really variable until a time frame longer than one year is adopted. Insurance and taxes are budgeted, and so on.

AfterStep 4 has been performed, it may be necessary to return to Step 3 and make adjustments to some of the costs that are discretionary in nature.

Once the plan is completed and the year begins, profit variance is calculated monthly as a "management control" tool.

To illustrate the control system, we will take the month of January and assume the level of sales activity for the month to be , litres, as shown below. Looking back at our sales forecast Step 2 we see that , litres had been forecasted. So even though there has been a nice increase in sales volume, the mix has been unfavorable. It is thus due to differences in volume and to differences in average mix. The impact of each of these two factors is also shown in Exhibit A: Exhibit B shows a typical departmental budget sheet for the month of January comparing actual costs with budget.

A sheet is issued for each department, so the person responsible for a particular area of the business can see the items that are in line and those that need attention. You should note that the budget for variable cost items has been adjusted to reflect actual volume, thereby eliminating cost variances due strictly to the difference between planned and actual volume. The figures for the month of December have been excluded for the purposes of this case. Exhibit 2 is the detailed expense breakdown for the manufacturing department.

The detailed expense breakdowns for the other departments have been excluded for purposes of this case. Schedule A-2 is reproduced as Exhibit 2. There will be varying degrees of sensitivity to volume changes among these costs, ranging from a point just short of pure variable to an extremely fixed type of expense which has no relationship to volume.

The beginning point in making a profit plan is separating cost into fixed and variable categories. Pure variable costs require an additional amount with each increase in volume. The manager has little control over this type of cost other than to avoid waste.

The accountant can easily determine the variable manufacturing cost per unit for any given product or package by using current prices and yields. The reason for differentiating between fixed and variable so emphatically is because variable cost spending requires no decision; it is dictated by volume.

Management and Cost Accounting

Download PDF Read online. The book has been streamlined and substantially redesigned in its 7th edition to make it much shorter and easier to use. There are downloadable and interactive resources for the book at www. The aim of the seventh edition is to explain the principles involved in the design and evaluation of. Colin Drury - Management and Cost Accounting jetzt kaufen. Search this site. Download Auto Audio pdf by Andrew Yoder.

The eighth edition of Colin Drury's Management and Cost Accounting text is accompanied by CHAPTER.

Management and Cost Accounting

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Phone or email. Don't remember me. Management and Cost Accounting, 10th edition For over thirty years, Colin Drury has been at the forefront of helping students learn the key concepts and processes in management and cost accounting through his textbooks. Now in its tenth edition, Management and Cost Accounting has been the leading textbook in the field for three decades, and continues to blend theory and practice in language that is clear and accessible. The new edition has been completely updated to reflect recent developments in the field, and now includes additional emphasis on value creation, and links strategic performance management more closely to divisional financial performance measurement.

Colin Drury, Management and Cost Accounting – Boston Creamery

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Management and Cost Accounting 10th Edition PDF Book

 Трюк, старый как мир. Никуда я не звонил. ГЛАВА 83 Беккеровская веспа, без сомнения, была самым миниатюрным транспортным средством, когда-либо передвигавшимся по шоссе, ведущему в севильский аэропорт. Наибольшая скорость, которую она развивала, достигала 50 миль в час, причем делала это со страшным воем, напоминая скорее циркулярную пилу, а не мотоцикл, и, увы, ей не хватало слишком много лошадиных сил, чтобы взмыть в воздух. В боковое зеркало заднего вида он увидел, как такси выехало на темное шоссе в сотне метров позади него и сразу же стало сокращать дистанцию. Беккер смотрел прямо перед .

Плутоний впервые был открыт… - Число, - напомнил Джабба.  - Нам нужно число. Сьюзан еще раз перечитала послание Танкадо. Главная разница между элементами… разница между… нужно найти число… - Подождите! - сказала.  - Слово разница многозначно.

Кнопка на полу привела ее в движение, и дверь, издав шипящий звук, отъехала в сторону. Чатрукьян ввалился в комнату. - Коммандер… сэр, я… извините за беспокойство, но монитор… я запустил антивирус и… - Фил, Фил, - нехарактерным для него ласковым тоном сказал Стратмор.  - Потише и помедленнее. Что случилось. По голосу Стратмора, мягкому и спокойному, никто никогда не догадался бы, что мир, в котором он жил, рушится у него на глазах.

Над Форт-Мидом высоко в небе сияла луна, и серебристый свет падал в окно, лишь подчеркивая спартанскую меблировку. Что же я делаю. - подумал Бринкерхофф.

 И все-таки, - прервал ее Беккер. Ему в голову пришла другая мысль.  - Вы дежурили все это время.

Management and Cost Accounting (10th Edition) – eBook

Стратмор рассмеялся: - Несколько миллионов. Ты понимаешь, сколько стоит эта штука. Любое правительство выложит любые деньги. Можешь ли ты представить себе, как мы будем докладываем президенту, что перехватили сообщения иракцев, но не в состоянии их прочитать. И дело тут не только в АНБ, речь идет обо всем разведывательном сообществе.

У нее перехватило дыхание.

В этот момент Сьюзан поймала себя на том, что готова взвалить на Хейла вину за все свои неприятности. За Цифровую крепость, волнения из-за Дэвида, зато, что не поехала в Смоуки-Маунтинс, - хотя он был ко всему этому не причастен. Единственная его вина заключалась в том, что она испытывала к нему неприязнь. Сьюзан важно было ощущать свое старшинство. В ее обязанности в качестве главного криптографа входило поддерживать в шифровалке мирную атмосферу - воспитывать .

Management And Cost Accounting Student Manual