Pasig Catholic College

COLLEGE DEPARTMENT

Outcomes-Based Teaching Learning Plan

Course Title COST ACCOUNTING AND CONTROL Course Code Acctg. 106
Credit Units 3 units Course Pre-/Co-requisites
Course Description This course is designed to orient the students to cost accounting and control framework of business. It exposes the students to
different product costing procedures. It includes accounting procedures for main products and incidental products that are
manufactured simultaneously in a common process. It encompasses the costing techniques and procedures for companies
that use standard costs as a benchmark for costing the products. The students must be able to assemble financial statements
prepared under standard costing procedures. While its emphasis particularly dwells on the manufacturing concern, it also
highlights the elements and features applicable to the non-manufacturing concerns. The course aims to help the student
understand the factors and aspects necessary to come up with an effective cost system. It explores on the details of the key
components of manufacturing from one department to the next, specifically materials, labor, and overhead and transcends
into the understanding the flow of costs during the work in process stage until the completion of goods. It will aid them in the
production of the necessary deliverables and reports pertinent to the cost system. It will enhance the analyzing and problem-
solving skills of students whilst teaching them the requisites of assessing the role of cost accounting as an indispensable tool
for management in planning and control for decision-making. It also discussed is the impact of environmental concerns on
cost.
Institutional Learning Outcomes Program Outcomes

1. Creative and Critical BSA graduates must demonstrate the ability to review, interpret and evaluate financial data and systems in compliance with established
Thinking policies, procedures, guidelines, agreements and/or legislation. He must be able to link data, knowledge and insight together with
different sources and disciplines to make informed decisions.

2. Effective Communication BSA graduates should possess active listening skills and the ability to communicate effectively one’s point of view, both orally and in
writing, at all organizational levels; be able to explain verbally and/or writing financial, statistical, administrative matters/
policies/procedures/ regulatory matters/audit results at a level appropriate to the audience and must be able to negotiate effectively

3. Strong Service Orientation BSA graduates should develop an ability to work in groups, possess skills to participate as member of a team or/and contribute to group
4. Passion to Life-Long effort; be able to teach others new skills; be able to work to the satisfaction of the clients; negotiate and work with diversity or work well
Learning with men and women from diverse backgrounds
 5. Sense of Personal and BSA graduates must work with the highest standards of professionalism, to attain higher level of performance and generally to meet the
Professional Ethics public interest, he must conform to the ethical standards of the profession that include: Integrity, objectivity and independence,
professional competence and due care, confidentiality, professional behavior and moral values

6. Sense of Nationalism and BSA graduates should possess general knowledge in gaining and understanding of the different cultures in the world and developing an
Global Responsiveness international objective thus, he must possess competency in English language, adaptability to foreign business practices, level of
7. Community Engagement trainability and good capabilities in dealing with foreign partners

8. Adeptness in Responsible BSA graduates should not only be conversant with IT concepts for business systems but sound knowledge on internal control in
Use of Technology computer-based systems, development standards and practices for business systems, management of the adoption, implementation and
use of IT, evaluation of computer business systems, and managing the security information.

9. High Level of Leadership BSA graduates should possess broad base of knowledge concerning macro-environmental, economic and industry issues, business
and Organization Skills process structures, functions and practices. It includes knowledge in areas such as economics, quantitative models and busines statistics,
organizational behavior, international business, ethics and corporate governance.
Course Intended Learning At the end of the course, the students are expected to:
Outcomes [CILO] 1. Describe how cost accounting is used for decision making and performance evaluation.
2. Explain the basic concept of cost and how costs are presented in financial statements.
3. Demonstrate how materials, labor and overhead costs are added to a product at each stage of the production cycle.
4. Analyze the basic cost flow model and be able to assign cost in a job cost system.
5. Formulate overhead using predetermined rates and Activity-Based costing.
6. Asses how cost-volume-profit are related and used CVP analysis as a planning and decision making aid.
7. Interpret variable cost variances and fixed cost variances.

DETAILED LEARNING PLAN

Week no. No. of Topic Learning Outcomes Activity/ Approaches Assessment
Hours
Week 1 1 hour Presentation/ Orientation of the After the discussion, the students must Presentation of the syllabus.
subject, requirements, grading be able to: Clarification of expectation.
system, required textbooks and 1. Understand and clarified with
references, class management the subject requirements, class
policies and procedures policies and procedures, grading
system and other matters related
to the course.
Week 1-2 5 hours Cost accounting fundamentals, At the end of these lessons, the student 1. Lecture Solve and analyze
cost terms, concepts, must be able to: 2. Class Activity exercises situational problems
classification behavior 1. Distinguish between financial, 3. Class Presentation related to the
1. Definition, Scope, Objective managerial and cost accounting. 4. Problem Solving identification of
and 2. Identify the uses of cost accounting Quizzes different cost.
Uses of Cost Accounting. data.
2. Nature of Cost, Cost Pools, 3. Explain the nature of cost, cost pools,
Cost cost objective and cost drivers.
Objects and Cost Drivers. 4. Identify and explain various
3. Classification of Costs classifications of costs.

Cost flows, accumulation, and At the end of these lessons, the student 1. Lecture
Week 3 3 hours
reporting in a service, trading, must be able to: 2. Class Activity Analyze and solve
and manufacturing business. 1. Explain the relationship between cost exercises problems related to
accounting and management 3. Class Presentation cost flows, cost
accounting. 4. Problem Solving accumulation and
1. Flow of costs in a service and
2. Understand the cost accounting cycle. Quizzes preparation of different
trading industry.
2. Flow of Costs in a 3. Describe the flow of costs in a financial statements
manufacturing company. service, merchandising and
3. Manufacturing inventory manufacturing industry.
accounts. 4. Distinguish between and account for
4. Elements of manufacturing direct and indirect materials and
costs. labor as they are used in the
5. Statement of Cost of Goods production process.
Manufactured and Sold. 5. Prepare different financial statements

Cost-volume-profit At the end of these lessons, the student 1. Lecture

Week 4-5 6 hours must be able to: Solve problems related
relationships 2. Class Activity to Break-Even and
1. Basics of CVP Analysis. 1. Describe the concept and importance exercises
of cost-volume-profit relationship. Target Profit Analysis.
2. Significance of CVP Analysis. 3. Class Presentation
2. Explain the meaning of contribution 4. Problem Solving
margin and break-even point.
 3. CVP Analysis for Breakeven 3. Construct, compute and explain the
Planning. break-even point.
4. CVP Analysis for Revenue and 4. State the assumptions and limitations
Cost Planning. of CVP analysis.
5. Break-even Graph. 5. Prepare break-even graph and profit-
6. Profit-Volume Chart. volume graph.
7. Assumptions and Limitations of 6. Apply CVP analysis in decision
CVP Analysis. making.

Job-Order Costing At the end of these lessons, the student 1. Lecture

Week 6-7 6 hours 2. Class Activity Analyze and solve
1. Concept and Application. must be able to: comprehensive
1. Define the job order costing and exercises
2. Flow of Costs. problems related to job
3. Class Presentation
3. Summary of Accounting identify the types of industries that
4. Problem Solving order costing system.
Procedures. would most to use this system.
Quizzes
4. Preparation of entries 2. Demonstrate the mechanics of a job
5. Job Order Cost sheets order costing system.
3. Differentiate among the forms used
in the purchase and issuance of
materials such as purchase requisition,
purchase order, receiving report and
material requisition.
4. Distinguish between the periodic and
perpetual cost accumulation systems
used to account for materials issued to
production and for ending materials
inventory.
5. Prepare a job order cost sheet.

Week 8 3hours Midterm Period

1. Lecture
Process Costing and Cost
Week 9-10 6 hours Allocation At the end of these lessons, the student 2. Class Activity Analyze and solve
1. Industry using process costing must be able to: exercises comprehensive
method. 1. Define process costing and 3. Class Presentation problem related
2. Characteristics of process differentiate from job order costing. 4. Problem Solving process costing system.
costing system. 2. Define the characteristics of a process Quizzes
3. Flow of Cost in Process cost system.
Costing System. 3. Compute for the equivalent
4. Methods of Costing under production.
process costing. 4. Discuss and prepare a cost of
5. Methods of application of production report
elements of cost to production.
6. Computation of equivalent
production.
7. Normal / Abnormal Losses.
8. Increase in units due to addition
of materials.

Activity-Based Costing 1. Lecture

Week-11-12 6 hours 1. Advantage and Limitations of At the end of these lessons, the student 2. Class Activity Solve basic and
Activity Based Costing must be able to: exercises comprehensive
2. Design of an ABC System. 1. Define activity-based costing. 3. Class Presentation problems related to
3. Manufacturing applications of 2. State the advantages and limitations 4. Problem Solving activity-based costing.
Activity Based Costing. of activity-based costing system. Quizzes
4. ABC application to a 3. Describe the steps in designing an
merchandising company. activity-based costing system.
5. ABC application to a trading 4. Enumerate examples of activity
centers, cost drivers, and traceable
company.
costs.
6. Activity-Based Management.
5. Apply activity-based costing to
different companies.
6. Discuss activity-based
Just-in-time and Backflush management. 1. Lecture
Week 13-14 6 hours Costing System At the end of these lessons, the student 2. Class Activity Solve basic and
1. Key features of JIT System. must be able to: exercises comprehensive
2. Financial benefits of JIT 1. Understand the JIT philosophy. 3. Class Presentation problems related to
3. Cost flows in JIT Costing. 2. Know and understand the five key 4. Problem Solving activity-based costing,
4. Backflush Accounting elements involved in the operation of a Quizzes JIT and backflushing
JIT system.
3. Differentiate the JIT system from the
traditional costing system.
Accounting for joint products
and by-products
1. Joint Costs and the Split-Off 1. Define joint cost and distinguish
Solve basic and
Points. them from common costs.
comprehensive
2. Outputs of a joint process. 2. Discuss the appropriate methods for
problems related to
3. Characteristics of main the allocation of joint costs to joint
accounting for joint
products and by-products. products.
products and by-
4. Accounting methods 3. Discuss the appropriate methods for
products.
4.1 Physical output method the costing of by-products.
4.2 Market value at split off 4. Prepare the different income
method statements showing the revenue/net
4.3 Net Realizable Value revenue from by-products.
Method. 5. Discuss the effects of joint allocation
5. Effects of joint cost allocation upon decision making.
upon decision making.

Standard Costs and Variances

1. Lecture
1. Nature and rationale of At the end of these lessons, the student
Week 15-17 9 hours standard cost. must be able to: 2. Class Activity Solve basic and
2. Actual, normal and standard 1. State the nature and rationale of exercises comprehensive
costs. standard cost. 3. Class Presentation problems related to
3. Users and uses of standard 2. Explain the difference between 4. Problem Solving standard costing
cost. actual, normal and standard costing. Quizzes system.
4. Benefits and limitations of 3. Discuss the users of standard cost.
standard cost. 4. Explain the benefits and limitations
5. Establishment of standards. of standard cost.
5.1 Setting Direct Materials 5. Describe how standards are set.
Standards. 6. Explain the process of setting
5.2 Setting Direct Labor standard costs for direct material, direct
Standards. labor and overhead.
5.3 Setting Overhead Standards. 7. Identify the possible causes of
6.Analysis of variances variances and responsibility for them.
6.1 Direct materials variance 8. Compute and analyze the variances
analysis between actual costs and standard costs
6.2 Direct labor variance
analysis.
6.3 Factory overhead variance
analysis.

FINALS
Week 18 3 hours

REFERENCES:
Cabrera, Ma. Elenita B. (2019) Cost Accounting and Control 2019 ed, GIC Enterprises & Co. Inc
Drury, C (2015). Management and Cost Accounting (8th Edition). Andover: Cengage Learning
Weygandt, Jerry et al., (2017), Weygandt's Managerial Accounting: Tools for Business Decision Making, 1st Edition, Global Edition, Wiley
Raiborn, J. (20150 Cost Accounting 2nd Edition, Cennage Learning

GRADING SYSTEM

Major Examinations: 30%

Midterm/ Finals

Class Average and Participation 60%

Quizzes/ seatwork/ Homework/
Recitation/ Class Presentation

Attendance 10%
100%

Prepared by: Checked by: Approved by:

Dr Rolando E. Robledo Mrs. Jennifer Charangerro Dr. Leonora Fernandez