Cost Analysis & Management

This course explains how cost accounting helps organizations accurately predict the cost of providing services. It presents an overview of activity-based costing and describes how to develop and analyze cost information by product line. In addition, the course describes methods and benefits of developing a standard costing system, as well as variable and fixed costs and presents four types of cost behaviors. The course also includes the basic concepts of price variance, volume variance and efficiency variance.

Estimated course completion time: 45 minutes.

Learning Objectives:

After this course you should be able to:

• Define the term contribution margin.
• Define the term break-even point.
• Define the term overhead.
• Identify the purpose of activity-based costing.
• Identify the three main types of standards costs.
• Recognize the four types of individual cost behaviors.
• Identify the three principal types of expense variance.

General Program Information