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COLLEGE: RVR-COB DEPARTMENT: ACCOUNTANCY

COURSE CODE: MODCOS2


COURSE TITLE: COST ACCOUNTING AND MANAGEMENT PART II
CLASS SCHEDULE: ________________________________________ ROOM: ________
NAME OF PROFESSOR: ____________________________________
CONTACT INFORMATION: _________________________________
CONSULTATION HOURS: ___________________________________

COURSE DESCRIPTION:
This course MODCOS2, Cost Accounting and Management Part II, is a follow-up course to MODCOS1. It focuses
on the concepts and procedures applied in accounting for materials, labor, and overhead used in manufacturing
operations under a process cost system. It covers accounting for joint products and by-products, including income
statement presentation, and variance computations and analysis under a standard costing system

LEARNING OUTCOMES (LO):


UNIVERSITY
EXPECTED GRADUATE OUTCOMES (GO) COURSE OUTCOMES (CO)
LASALLIAN On completion of the program, the student On completion of the course, the student is
GRADUATE is expected to be able to: expected to be able to:
ATTRIBUTES
(ELGA)
Critical and Creative GO1: Demonstrate integrative knowledge CO1: Discuss how materials, labor, and
Thinker in the areas of financial accounting and overhead costs are added to a product at
reporting, cost accounting and each stage of the production process using
Effective management, management accounting, process cost system, and prepare the
communicator auditing, taxation, accounting information necessary reports; recognize ethical issues
systems and accounting research consistent in process costing.
Reflective Lifelong with relevant global frameworks
Learner CO2: Explain and apply the concepts and
GO5: Confidently maintain a professional procedures used in accounting for by-
commitment to good corporate citizenship, products and joint products
social responsibility and ethical practice
when performing functions as a CO3: Calculate material, labor, and
professional accountant overhead cost variances to explain
differences between standards and actual
GO10: Advocate Lasallian values of faith, results; use variance analysis to guide
zeal for service, and communion in decision-making and recognize the ethical
mission, professional values and business implications that arise in decision-making
ethics in all aspects of accounting work and performance evaluation.

CO4: Construct and deliver a clear written


and oral presentation of the cost
accounting system and the production
process of an actual manufacturing plant in
the Philippines, then compare and contrast
practices by these companies to concepts
learned in class.

FINAL COURSE OUTPUT:


As evidence of attaining the above learning outcomes, the student is required to do and submit the following during
the indicated dates of the term:

COURSE OUTCOMES (CO) REQUIRED OUTPUTS DUE DATE


CO1: Discuss how materials, labor, and overhead costs At least five (5) solved problems per Weeks 8 to 13
are added to a product at each stage of the production meeting
process using process cost system, and prepare the
necessary reports; recognize ethical issues in process
costing.

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CO2: Explain and apply the concepts and procedures
used in accounting for by-products and joint products
CO3: Calculate material, labor, and overhead cost
variances to explain differences between standards and
actual results; use variance analysis to guide decision-
making and recognize the ethical implications that arise
in decision-making and performance evaluation.
CO4: Construct and deliver a clear written and oral Oral and written report on group plant Week 14
presentation of the cost accounting system and the visit
production process of an actual manufacturing plant in
the Philippines, then compare and contrast practices by
these companies to concepts learned in class.

RUBRICS FOR ASSESSMENT:

1. Solved Problems:
CRITERIA EXEMPLARY SATISFACTORY DEVELOPING BEGINNING
(100) (90) (80) (70) RATING
Completion The student The student submitted The student The student
(80%) submitted solutions to at least submitted solutions submitted
complete and three-fourths of the to at least one-half solutions to less
detailed solutions assigned problems. of the assigned than one-half of
to the assigned problems. the assigned
problems. problems.
Format and The student The student presented The student The student
neatness presented solutions solutions neatly and presented solutions presented
(10%) neatly and followed proper neatly and solutions neatly
followed proper accounting format in followed proper and followed
accounting format. at least three-fourths accounting format proper
of the assigned in at least one-half accounting
problems. of the assigned format in less
problems. than one-half of
the assigned
problems.
Time The student The student submitted The student The student
management submitted the the solutions within submitted the submitted the
(10%) solutions on time. one hour after class. solutions later than solutions the
one hour after class following day or
but within the day. later.

TOTAL:

2. Written Report:
EXEMPLARY SATISFACTORY DEVELOPING BEGINNING
CRITERIA (100) (90) (80) (70) RATING
Attendance and Professional Professional Professional Student fails
professional demeanor demeanor is demeanor was demeanor was to attend the
during plant visit exceedingly well appropriately noticeably plant visit.
(20%) demonstrated. demonstrated by lacking,
The student wearing including a lack
wears appropriate attire, of appropriate
appropriate arriving on time, attire, arriving
attire, arrives stays for the late, not staying
PRIOR TO duration of the for the duration
appointment and plant visit. of the plant visit.
stayed for the
duration of the
plant visit.
Personal reflection Group’s Group’s reflections Group’s Group’s
(20%) reflections are are adequate, but reflections are reflection is
thoughtful and could be more brief; shows little limited or
complete; thoughtful; interest in the superficial;
reflects on mentions group’s activity shows no
group’s personal personal interest in the
experiences experiences but activity
related to the does not reflect on
activity. them.

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Documentation of the Production Production process Production Production
production process and process and cost and cost process and cost process and
description of the cost accounting accounting system accounting cost
accounting system system is is documented but system is accounting
(40%) documented in could be more documented but system is not
complete and understandable if brief and could documented
understandable flowcharts are not provide a and/or does
manner using supplemented by complete picture not comply
flowcharts and as narratives. of what it totally with
supplemented by purports to any of the
narratives. present. mechanics.
Format of presentation All Work effectively Work somewhat Work does
and grammar grammar/spelling communicated effectively not
(10%) correct and very ideas. Contains communicates communicate
well-written. few, if any, ideas. Contains ideas clearly.
grammar/spelling occasional Numerous
errors; mature grammar/spelling grammar
writing style. errors, generally and/or
readable with spelling
some rough spots errors, writing
in writing style. style is rough
and immature.
Observance of Submitted on Late submission Late submission Late
submission deadlines time and follows and/or observes and/or observes submission
(10%) all the mechanics 75% of the less than 50% of and/or does
in writing the guidelines. the guidelines. not comply
paper. totally with
any of the
mechanics.

TOTAL:

RUBRIC FOR ASSESSMENT:

3. Oral Presentation
EXEMPLARY SATISFACTORY DEVELOPING BEGINNING
CRITERIA (100) (90) (80) (70) RATING
Participation and All group All group members Only three Only 1 or 2
delivery members participate but not group group
(30%) participate equally; speak members members
equally; clearly and are participate; participate;
speak loudly easy to understand. voice is not voice is not
and clearly and audible and audible and
are easy to difficult to difficult to
understand. understand. understand.
Discussion of the Production Production process Production Production
production process and process and and cost process and cost process and
description of the cost cost accounting accounting system accounting cost
accounting system system is is discussed but system is accounting
(40%) discussed in could be more discussed but system is not
complete and understandable if brief and could discussed.
understandable electronic visual not provide
manner using aids are explained understandable
electronic more in detailed explanation.
visual aids and manner.
explained in a
thorough
manner.
Organization and Presentation is Presentation is Presentation is Presentation
completeness organized and complete but not organized but is
(20%) complete. organized.. not complete.. disorganized
and
incomplete.
Observance of Presented Presentation was Presentation was Presentation
presentation guidelines within time either too short or either too short was either too
(10%) allotted and exceeded the time or exceeded the short or
followed all allotted ; observed time allotted ; exceeded the
mechanics in 75% of the observed 50% time allotted ;

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presenting the guidelines. of the observed less
written report. guidelines. than 50% of
the guidelines.

TOTAL:

OTHER REQUIREMENTS AND ASSESSMENTS:


Aside from the final output, the student will be assessed during the term through the following:
 Quizzes
 Departmental final examination
 Class standing (homework, class participation, attendance, good manners and right conduct)

GRADING SYSTEM:

GRADE POINT DESCRIPTION PERCENTAGE


4.0 Excellent 97 – 100
3.5 Superior 94 – 96
3.0 Very Good 91 – 93
2.5 Good 87 – 90
2.0 Satisfactory 83 – 86
1.5 Fair 77 – 82
1.0 Pass 70 – 76
0.0 Fail Below 70

The student will be graded according to the following:

BASIS
Average Quizzes 50%
Departmental Final Examination 30%
Term Paper 10%
Class Standing 10%
TOTAL 100%

LEARNING PLAN:

COURSE TOPIC WEEK LEARNING


OUTCOMES NO. ACTIVITIES

I: PROCESS COST SYSTEM

CO1: Discuss 1.1 Nature of process costing 9-11 Read: Horngren Ch. 17 &
how materials, 1.2 Difference between process costing and job order costing 18; Handouts
labor, and 1.3 Computation of equivalent units of production
overhead costs 1.3.1 FIFO method Solve and discuss assigned
are added to a exercises and problems in
1.3.2 Weighted-average method
product at each Ch. 17, 18, and handouts
stage of the 1.4 Cost control accounts and subsidiary ledgers
production 1.5 Preparation of cost of production report (and related journal
process using entries) using FIFO and weighted-average methods
process cost 1.5.1 Without lost units
system, and 1.5.2 With lost units – normal and abnormal
prepare the 1.5.2.1 Continuous loss
necessary 1.5.2.2 Discrete loss
reports; 1.5.3 With increase in units due to addition of materials in a
recognize subsequent department (Accretion)
ethical issues
in process
costing.

II: ACCOUNTING FOR JOINT PRODUCTS AND BY-PRODUCTS

CO2: Explain 2.1 Accounting for joint products and its outputs 11-12 Read: Horngren Ch. 16
and apply the 2.2 Methods of allocating joint costs
concepts and 1. Physical measure allocation method Solve and discuss assigned
procedures 2. Monetary measure allocation method exercises and problems in

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used in a. Sales value at split-off method Ch. 16
accounting for b. Net realizable value method
by-products c. Constant gross margin percentage method
and joint 2.3 Accounting for scrap and by-products
products 2.4 Journalizing joint products and by-products transactions
2.5 Income statement presentation

III: STANDARD COSTING AND VARIANCE ANALYSIS

CO3: 1.1 Static budgets and static budget variances 13 Read: Horngren Ch. 7, 8,
Calculate 1.2 Flexible budgets 14 (Appendix)
material, labor, 1.3 Flexible budget variances and sales volume variances
and overhead 1.4 Developing a standard cost system Solve and discuss assigned
cost variances 1.5 Variances for direct cost inputs exercises and problems in
to explain 1.5.1 Material price, quantity, mix, and yield variances Ch. 7, 8, 14
differences 1.5.2 Labor rate, efficiency, mix, and yield variances
between 1.6 Overhead variances
standards and 1.6.1 One-variance analysis
actual results; 1.6.2 Two-variance analysis
use variance
1.6.3 Three-variance analysis
analysis to
1.6.4 Four-variance analysis
guide
1.7Journal entries and disposition of variances
decision-
making and 1.8 Management uses of variances
recognize the
ethical
implications
that arise in
decision-
making and
performance
evaluation.

CO4: 14 Oral presentation


Construct and
deliver a clear Submission of written
written and report
oral
presentation of Comprehensive
the cost examination
accounting
system and the
production
process of an
actual
manufacturing
plant in the
Philippines,
then compare
and contrast
practices by
these
companies to
concepts
learned in
class.

TEXTBOOK:
Horngren, C., Datar, S. & Rajan, M. (2014). Cost Accounting: A Managerial Emphasis, (15th edition). Pearson
Education, Inc.

REFERENCES:
Blocher, E., Stout, D. & Cokins, G. (2013). Cost Management: A Strategic Emphasis (6th Edition). McGrawHill.

Hilton, R. & Platt, D. (2014). Managerial Accounting: Creating Value in a Global Business Environment (10th
Edition). McGraw-Hill.

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Lanen, W., Anderson, S. & Maher, M. (2014). Fundamentals of Cost Accounting (4th Edition). McGrawHill

Mowen, M. & Hansen, D. (2015). Cornerstones of Cost Management (3rd Edition). Cengage LeasrningAsia Pte. Ltd.

Raiborn, C. and Kinney, M. (2013). Cost Accounting: Foundations and Evolutions (9th Edition). Cengage Learning
Asia Pte. Ltd.

ONLINE RESOURCES:

 www.pearsonhighered.com

CLASS POLICIES:

 POLICIES SPECIFIC TO THE COURSE:

o Only BSA students who had successfully passed the Qualifying Examination are qualified to take this
course.

o This course is a prerequisite to all Module 2 courses, namely: MODADV1, MODADV2, MODADV3,
MODAUDP, MODMIT1, and MODMIT2. To qualify for these Module 2 courses, students should obtain
a final grade of at least 2.0 in this course.

o Students shifting out of the BSA program and into another business degree program may have the course
ACTMANA credited, if a final grade of at least 1.0 has been obtained in all of the following courses:
MODCOS1, MODCOS2, and MODMGT1.

o This course is offered from Weeks 8 to 14 of the term, four days a week (MTWH), 1 ½ hour per day.

o Four (4) long quizzes are required in this course.

o The comprehensive examination is departmental and covers the entire course syllabus. This is held for
three (3) hours during the Final Examinations Week (Week 14).

o Students (in groups of 5) will visit a manufacturing company of their choice, observe and document the
production process of a product (take a video if allowed), and conduct an interview of the cost accountant.
Guide questions will be provided to the group. Each group should have a different product.

o A written report on the plant visit will be submitted after the oral presentation using Arial 11-font size, 1.5
line spacing, on an 8-1/2” x 11” white bond paper, with a 1” margin on all four sides. Other instructions
will be given by the faculty member to the class.

o Each group will conduct a fifteen- to twenty- minute presentation of the plant visit during week 14.

o Specific class policies on attendance, make-up quizzes, academic honesty, grading system, dress code,
classroom management, and others not mentioned above, are to be discussed by the faculty member on the
first day of classes.

 DEPARTMENT POLICIES:

o An application for special final examination should be accomplished by the student if there are conflicts in
the final examination schedule, following the University policies on order of priority.

o Please observe office hours and consultation hours/schedule of the faculty member. The Accountancy
Department is located at the Faculty Center ground floor. When inside the Department, students are
expected to observe silence, and maintain the cleanliness and orderliness of the room.

o For student concerns regarding the BSA program or the course, please set an appointment with the
Department Vice Chair. For all other inquiries, please visit the Accountancy Department. Important
announcements will be posted on the Accountancy Department bulletin board.

17July2015

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