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Cost Accounting Foundations & Evolutions 10e By Kinney, Raiborn, Dragoo (Solutions Manual) $28.99
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Cost Accounting Foundations & Evolutions 10e By Kinney, Raiborn, Dragoo (Solutions Manual)

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Cost Accounting Foundations & Evolutions 10e By Kinney, Raiborn, Dragoo (Solutions Manual) A Complete and Comprehensive Guide

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  • March 29, 2023
  • 534
  • 2022/2023
  • Exam (elaborations)
  • Questions & answers

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  • raiborn
  • raiborn
  • dragoo
  • cost accounting foundations amp evolutions 10e by kinney
  • dragoo solutions manual
  • cost accounting foundations amp evolutions 10e by kinney
  • cost accounting foundations

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Cost Accounting Foundations & Evolutions 10e By
Kinney, Raiborn, Dragoo (Solutions Manual)

Table of Contents
Chapter 1 Introduction to Cost Accounting.................................................... 1

Chapter 2 Cost Terminology and Cost Behaviors .......................................... 13

Chapter 3 Predetermined Overhead Rates, Flexible Budgets, and
Absorption/Variable Costing.......................................................... 41

Chapter 4 Activity-Based Management and Activity-Based Costing ........... 67

Chapter 5 Job Order Costing ........................................................................... 104

Chapter 6 Process Costing ................................................................................ 136

Chapter 7 Standard Costing and Variance Analysis...................................... 178

Chapter 8 The Master Budget .......................................................................... 223

Chapter 9 Break-Even Point and Cost-Volume-Profit Analysis ................... 261

Chapter 10 Relevant Information for Decision Making .................................. 292

Chapter 11 Cost Allocation for Joint Products and By-Products/Scrap ........ 315

Chapter 12 Introduction to Cost Management Systems .................................. 347

Chapter 13 Responsibility Accounting, Support Department Allocations,
and Transfer Pricing ....................................................................... 359

Chapter 14 Performance Measurement, Balanced Scorecards, and
Performance Rewards ..................................................................... 397

Chapter 15 Capital Budgeting ............................................................................ 426

Chapter 16 Managing Costs and Uncertainty................................................... 445

Chapter 17 Implementing Quality Concepts .................................................... 466

Chapter 18 Inventory and Production Management ....................................... 493

Chapter 19 Emerging Management Practices .................................................. 512

,iii

,
, CHAPTER 1

INTRODUCTION TO COST ACCOUNTING

QUESTIONS

1. Management accounting stresses the informational needs of internal users over those
of external users (the focus of financial accounting). Because of this perspective,
management accounting provides information in a format that is flexible and relevant
to a particular manager’s usage. Financial accounting, on the other hand, must pro- vide
some uniformity in the manner in which information is presented for it to be
comparable among companies and in compliance with generally accepted accounting
principles.

2. It is more important to have legally binding cost accounting standards for defense
contractors than for other manufacturers because government contracts are often
awarded on a low-bid basis. Without legally binding cost accounting standards, dif-
ferent bidders could include costs in different categories, making the bids noncompa-
rable. With specified cost accounting standards, there is a higher probability (although
not absolute certainty) that comparison among bids is consistent. Although contracts
for nongovernment manufacturers may be awarded on a bid basis, it is more common
in this arena to consider a wide variety of factors in addition to cost.

3. A mission statement is important to an organization because it provides a clearly
worded view of what the organization wants to accomplish and how the organization
uniquely meets or plans to meet its targeted customers’ needs with products and ser-
vices. Without a mission statement, an organization may veer away from its “view of
itself” and find that it is engaging in activities that are not, and can never be, part of
what it wants to do.

4. Organizational strategy is the link between a firm’s goals and objectives and its oper-
ational plans. Strategy is therefore a specification of how a firm intends to compete and
survive. Each organization will have a unique strategy because it has unique goals,
objectives, opportunities, and constraints.

5. Core competencies are the special proficiencies possessed and valued by an organiza-
tion. If a particular strategy requires core competencies that are not possessed by a firm,
executing such a strategy would be very difficult. For example, a strategy of In- ternet
business expansion would be difficult to execute in a firm that does not possess a core
competency in web design or web security. Similarly, a growth strategy would be
impossible in a not-for-profit that did not have a core competency in attracting
volunteers or donors.

6. Although polluting might be less expensive in the short run, there is no guarantee that
such a low-cost tactic may continue in the long run, especially if fines are incurred or
1

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