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COST ACCOUNTING INFORMATION SYSTEM
The following items are associated with a cost accounting information system:
a. Usage of direct materialsb. Assignment of direct materials cost to each productc. Direct labour cost incurrenced. Depreciation on production equipmente. Cost accounting personnelf. Submission of a bid, using product cost plus 25 percentg. Power cost incurrenceh. Materials handling cost incurrencei. Computerj. Assignment of direct labour costs to productsk. Costing out of productsl. Decision to continue making a part rather than buying itm. Printern. Report detailing individual product costso. Assignment of overhead costs to individual products
Required:
1. Classify the preceding items into one of the following categories:
a. Interrelated partsb. Processesc. Objectivesd. Inputse. Outputsf. User actions
2. Draw an operational model that illustrates the cost accounting information system-with the preceding items used as examples for each component of the model.
3. Based on your operational model, identify which product cost definition is being used: value-chain, operating, or product (manufacturing).
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