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Cost Accounting

Uploaded by CaseyP on May 23, 2017

Cost Accounting
Student’s Name
Institution’s Name

Cost Accounting
a) Primary accounting information needed by each manager
Jason Dennis is the Sales Manager, is responsible for supervising all the sales representatives. The primary accounting information that a Sales Manager should know is the customer base for the organization (Jiambalvo, 2010). Since the company is involved in the trading of tennis related products, Jason Dennis would instruct his sales representatives to concentrate their efforts on the people who play tennis for either recreational or for professional reasons. Besides, Jason Denis would require the information of each of the products that they offer at the company. This information includes the cost of each product. The Sales Manager do not just require the cost of a product at the final stage but the cost from the manufacturing stage to the point where it is ready to be sold. Being the Sales Manager, Jason Dennis is also supposed to be familiar with the salary paid to each of his sales representatives (Gregoriou & Finch, 2012). Furthermore, he should know the rate of commission that they are given on successful sales. This information is important because it would enable the company to determine the number of profits made on successful sales.
Dave Marley is Cost Accounting Manager and is responsible for supervising the cost accounts. He would be required to know the cost associated with the each product that the company manufactures. These costs fall into two categories (Gregoriou & Finch, 2012). The first type is the period cost category while second is the product price category. Period costs comprise mainly of the expenses incurred in the selling of the goods and the administrative costs while the product costs include the manufacturing overhead cost, the cost of labor and the raw material costs. Manufacturing overhead costs are costs which are related to indirect expenses such as indirect labor and indirect cost of raw materials.
Kevin Carson is the Production Supervisor. The Production Supervisor would need information similar to that required by the cost accounting manager (Weygandt, Kieso & Kimmel, 2012). There are only a few differences like information that the two should have. Such a difference in the information required by the two would occur. For instance, the cost accounting manager is required to know both the information on the period cost and the production cost whereas the production need only know the cost of production.
Sally Renner, the Engineer, is responsible for...

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Uploaded by:   CaseyP

Date:   05/23/2017

Category:   Accounting

Length:   7 pages (1,538 words)

Views:   582

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