L-NU AA 30-00-01-20

LYCEUM-NORTHWSTERN UNIVERSITY
Dagupan City

COLLEGE OF BUSINESS EDUCATION

LEARNING PACKET

Course Title/Code : ACCTG6 | Cost Accounting and Cost Management Academic Year : 2020 – 2021
Name of Faculty : Judy Anne T. Ramirez, CPA Semester : First
Instructor’s Email : ramirez.judyanne.t@lyceum.edu.ph Class Schedule : TTh 1:00PM– 4:00 PM
Course Credit : Lecture = 6 units Contact Number : 0966-466-7513
Prerequisite : Online Consultation Hours : TTh 3:00 – 4:00 PM
Google Classroom Code: sk3m4je

Course Description:

This course is a continuation of Intermediate Accounting I. It is designed to cover the discussion, appreciation and application of the Philippine Financial Reporting
Standards (PFRS) on the liabilities, financial and non-financial, and shareholders’ equity including disclosure requirements. It also deals with contemporary issues such as
leases, employee benefits, and income taxes. Financial liabilities shall include accounts and other trade payable, loans payable, commercial paper, derivative financial
liabilities, accrued expense payable, returnable deposits and current of maturities of long-term debt, bonds payable, long-term notes payable while Non-financial liabilities
shall include advances / deposits from customers, agency liabilities (VAT, SSS, Withholding tax, Income tax, Property tax), and warrants.

Program Outcomes:
1. Resolve business issues and problems, with a global and strategic perspective using knowledge and technical proficiency in the areas of financial accounting and
reporting, cost accounting and management, accounting and control, business law and taxation and accounting information systems.
2. Conduct accountancy research through independent studies of relevant literature and appropriate use of accounting theory and methodologies.
3. Employ technology as business tool in capturing financial and non-financial information, generating reports and making decisions.
4. Apply knowledge and skills that will successfully respond to various types of assessments (including professional licensure and certifications).
5. Confidently maintain a commitment to good corporate citizenship, social responsibility and ethical practice in performing functions as an accountant.

Course Outcomes:
1. Understand the concept, nature, and type of current and non-current liabilities.
2. Know the elements of shareholders’ equity, its recognition and measurement.
3. Compute accounted liabilities and shareholders’ equity.
4. Journalize accounting transactions related to liabilities and shareholders’ equity.

Introduction:
This learning packet for Intermediate Accounting 2 is designed to help you analyze how different liabilities and stockholders’ equity component are accounted, the measurement,
recognition and presentation to the Statement of Financial Position.
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General Guidelines:

This section tells you the general guidelines for completing this learning packet. For specific guidelines and information, kindly review your student manual or your module guide
(if applicable).

1. The class code for Google Classroom specific for this course is to be given by your instructor during the class orientation.
2. Schedule properly your reading assignments and your activity accomplishments.
3. Make sure that you do things one at a time. Read the materials and watch the videos over and over until you are able to get the point of the lesson
4. You will be assessed through formative and summative methods. Kindly see requirements section at the end of this learning packet.
5. You are expected to submit your activities/ exams on the dates indicated in this learning packet. Late submission of activities/ exams will be dealt based on classroom
policies.
6. Your scores for assignments will be notified to you throughout your period of study.
7. You can learn a great deal from discussing aspects of your learning packet with others. Opinions and insights formed while discussing with other people are no less
valuable than those you form while reading books or listening to lectures. There’s nothing wrong in discussing with your classmates but it should be done before you begin your
individual activities. But when you sit down and do individual activities you are expected to work alone and not to use the work of others (in its entirety or in part) as if it is your
own.
8. The instructor checks your assignments against the work of other students and against internet sources and other published material. If you submit an assignment that
contains work that is not your own without proper referencing and claiming the work of other as your own, you are committing plagiarism. Plagiarism is a form of academic
dishonesty punishable by several guidelines (See student handbook).
9. If you have concerns, kindly communicate with your instructor using the contact information given in this learning packet.
10. If it is not possible to participate in an online discussion due to internet problems, just save your answers in a digitized format in a USB flash drive then send it thru courier
at Lyceum-Northwestern University College of Information and Computing Science, Tapuac District, Dagupan City, Pangasinan or drop it thru the designated drop-boxes at the
university.

Summary of Course Content:

Unit 1 – Overview of Cost Accounting

Unit 2 – Cost Accounting Cycle

Unit 3 – Cost Determination: The Costing of Resource Inputs

Unit 4 – Activity Based Costing

Unit 5 – Job Order Costing

Unit 6 – Process Costing

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Unit 7 – Joint and By-Product Costing

Unit 8 – Standard Costing

Study Schedule (ASSURE Model)

Week Topic Learning Outcomes Activities

August 17, 2020 Class Orientation Join the online session using Google Meet
Unit 1 – Overview of Cost Accounting
Week 3: Topic: Overview of Cost Accounting
September 3, 2020 1. Define cost accounting. A – Analyze the Learners
2. Enumerate the uses of cost data. 1. Google classroom activity: Partake in the online discussion on your background and
Week 4: 3. Determine the classification of costs. expectations about Overview of Cost Accounting. Due date: September 3, 2020, 4:00PM.
September 8, 2020 4. Explain the process on separation of the
S – State Standards or Objectives
mixed costs into variable and fixed costs.
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 2 to 13.
2. After reading your book you should be able to answer the following guide questions:
a. What are the scope and objectives of cost accounting?
b. Enumerate the different classification of costs.
c. What is the process on separation of mixed costs into variable and fixed components?
d. What are the different elements of product costs in a manufacturing company?
3. Attend the online class lecture on this topic on September 3, 2020 at 1:00PM-4:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Solve the test materials on pages 19 to 28.
b. Solutions of the chosen exercise problems will be presented on September 8, 2020,
1:00PM-4:00 PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on September 8, 2020 at
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Unit 2 – Cost Accounting Cycle
Week 4: Topic: Cost Accounting Cycle
September 10, 2020
Week 5:
September 15, 2020
Week 5:
Preliminary Exam
September 17, 2020
1. Enumerate the inventory accounts.
2. Explain the flow of manufacturing costs.
3. Understand the methods of accumulating
product costs.
4. Compute the variances on applied overhead
and dispose it as under or over.
5. Prepare a Statement of Cost of Goods
Manufactured and Sold.
1:00PM-4:00 PM.
Optional Task:
1. Review the source materials provided on Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Cost Accounting Cycle. Due date: September 10, 2020, 4:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Synchronous online learning – joining the online class thru Google Meet
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 29 to 51.
2. After reading your book you should be able to answer the following guide questions:
a. Explain the Flow of Manufacturing Costs from purchase of raw materials to the completion
of these materials into a finished product.
b. What are the entries required to record transactions of a manufacturing company under
Actual and Normal method of costing?
c. Prepare a Statement of Goods Manufactured and Sold.
3. Attend the online class lecture on this topic on September 10, 2020 at 1:00PM-4:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Solve the test materials on pages 57 to 78.
b. Solutions of the chosen exercise problems will be presented on September 10, 2020,
4:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on September 15, 2020
at 1:00PM-4:00PM.
Optional Task:
1. Review the source materials provided on Google Classroom.
Answer the 50-item exam that will be posted in the Google Classroom
Start Time: 1:00PM | Due Time: 4:00PM
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Unit 3 – Cost Determination: The Costing of Resource Inputs

Week 6: Topic: Cost Determination: The Costing of Resource Inputs
September 22 & 24, 2020 1. Define promissory note. A – Analyze the Learners
2. Know the initial measurement of note 1. Google classroom activity: Partake in the online discussion on your background and
Week 7: payable. expectations about Cost Determination: The Costing of Resource Inputs. Due date: September
September 29, 2020 3. Understand the subsequent measurement of 24, 2020, 4:00PM.
October 1, 2020 note payable at amortized cost.
S – State Standards or Objectives
4. Understand the fair value option of
Please see topic learning outcomes
measuring note payable.
5. Know the accounting for note payable S – Select Strategies
issued solely for cash, interest bearing note The following teaching strategies will be used in this topic:
payable and non-interest bearing payable 1. Asynchronous online learning – participation in online discussion, answering guide questions
issued for property. and viewing suggested videos in YouTube
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 88 to 121.
2. After reading your book you should be able to answer the following guide questions:
a. Determine the cost determination on materials, labor, and overhead.
b. Enumerate and explain the methods of accounting for raw materials.
c. Allocate service department costs using direct, step, or algebraic method.
3. Attend the online class lecture on this topic on September 22 & 24, 2020 at 1:00PM-4:00PM
using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Solve the test materials on pages 122 to 130.
b. Solutions of the chosen exercise problems will be presented on September 29, 2020,
4:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 1, 2020 at
1:00PM-4:00PM.

Optional Task:
1. Review the source materials provided on Google Classroom.
Unit 4 – Activity Based Costing
Week 8: Topic: Activity Based Costing
October 6 & 8, 2020 1. Understand the nature and purpose of a A – Analyze the Learners
bond. 1. Google classroom activity: Partake in the online discussion on your background and
Week 9: 2. Identify types of bond expectations about Activity Based Costing Due date: October 8, 2020, 4:00PM.
October 13 & 15, 2020 3. Know the measurement of bonds payable.
S – State Standards or Objectives
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Week 10:
Midterm Exam
October 20, 2020
Unit 5 – Job Order Costing
Week 10: Topic: Job Order Costing
October 22, 2020
Week 11:
October 27 & 29, 2020
4. Understand the concept of bond premium
and bond discount.
5. Describe the methods of amortizing bond
premium and discount.
1. Define financial instrument
2. Understand the nature of a compound
financial instrument.
3. Know the accounting for a compound
financial instrument.
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing suggested videos in YouTube
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 160 to 162.
2. After reading your book you should be able to answer the following guide questions:
a. Explain activity based costing.
b. What is the difference of ABC and traditional method of allocation?
3. Attend the online class lecture on this topic on October 6 & 8, 2020 at 1:00PM-4:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Solve the test materials on pages 163 to 182.
b. Solutions of the chosen exercise problems will be presented on October 8, 2020, 4:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 13 & 15, 2020
at 1:00PM-4:00PM.
Optional Task:
1. Review the source materials provided on Google Classroom.
Answer the 60-item exam that will be posted in the Google Classroom
Start Time: 1:00PM | Due Time: 4:00PM
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Job Order Costing. Due date: October 22, 2020, 4:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing suggested videos in YouTube
2. Offline learning – reading and self-study of printed resources
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Unit 6 - Process Costing
Week 12: Topic: Process Costing
November 3 & 5, 2020
Week 13:
November 10, 2020
1. Know the distinction between accounting
income and taxable income.
2. Distinguish permanent differences and
temporary differences between accounting
income and taxable income.
3. Identify temporary differences that result to a
deferred tax liability and deferred tax asset.
4. Know the recognition and measurement of
deferred tax asset and liability.
5. Know the recognition and measurement of
current tax asset and current tax liability.
U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 183 to 207.
2. After reading your book you should be able to answer the following guide questions:
a. What is the nature of job order cost system?
b. How does the cost flow in materials, labor, and overhead?
c. How does the computation on job order affect standard cost?
3. Attend the online class lecture on this topic on October 22, 2020 at 1:00PM-4:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Solve the test materials on pages 208 to 227.
b. Solutions of the chosen exercise problems will be presented on October 27, 2020, 4:00PM
using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on October 29, 2020 at
1:00PM-4:00PM.
Optional Task:
1. Review the source materials provided on Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Process Costing. Due date: November 3, 2020, 4:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing suggested videos in YouTube
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 264 to 285.
2. After reading your book you should be able to answer the following guide questions:
a. What is a process costing system?
b. How to determine the equivalent units of production?
c. What are the production losses?
3. Attend the online class lecture on this topic on November 3, 2020 at 1:00PM-4:00PM using
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Google Meet.

R – Require Learner Participation

1. Individual activity
a. Solve the test materials on pages 286 to 289.
b. Solutions of the chosen exercise problems will be presented on November 5, 2020,
4:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on November 10, 2020 at
1:00PM-4:00PM.
Optional Task:
1. Review the source materials provided on Google Classroom.

Week 13: Answer the 60-item exam that will be posted in the Google Classroom
Semi-Final Exam
November 12, 2020 Start Time: 1:00PM | Due Time: 4:00PM
Unit 7 - Joint and By-Product Costing
Week 14: Topic: Joint and By-Product Costing
November 17 & 19, 2020 1. Understand postemployment benefits. A – Analyze the Learners
2. Distinguish defined contribution plan and 1. Google classroom activity: Partake in the online discussion on your background and
Week 15: defined benefit plan. expectations about Joint and By-Product Costing. Due date: November 19, 2020, 4:00PM.
November 24 & 26, 2020 3. Identify postemployment benefits under the S – State Standards or Objectives
law. Please see topic learning outcomes
4. Know the recognition of defined benefit cost.
5. Know the recognition of current service cost, S – Select Strategies
past service cost and net interest. The following teaching strategies will be used in this topic:
6. Define plan assets and return on plan 1. Asynchronous online learning – participation in online discussion, answering guide questions
assets. and viewing suggested videos in YouTube
7. Know the recognition of actuarial gains and 2. Offline learning – reading and self-study of printed resources
losses. U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 342 to 349.
2. After reading your book you should be able to answer the following guide questions:
a. What are the characteristics of joint and by-products?
b. What are the methods of allocating joint costs?
3. Attend the online class lecture on this topic on November 17 & 19, 2020 at 1:00PM-4:00PM
using Google Meet.
R – Require Learner Participation
1. Individual activity
a. Solve the test materials on pages 350 to 352.
b. Solutions of the chosen exercise problems will be presented on November 24, 2020,
4:00PM using Google Meet.
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Unit 8 - Standard Costing
Week 16: Topic: Standard Costing
December 1 & 3, 2020
Week 17:
December 8 & 10, 2020
Week 18:
Final Exam
December 17, 2020
1. Know the legal requirement for the
organization of a corporation
2. Define corporators, incorporators,
shareholders and members.
3. Distinguish ordinary share capital and
preference share capital.
4. Know the recognition and measurement of
share capital
5. Understand the accounting treatment of
share issuance cost and cost of public
offering of shares.
6. Define a callable, redeemable and
convertible preference share.
7. Recognition and measurement of treasury
shares.
8. Define retained earnings
9. Understand the legal limitation in the
declaration of dividends
10. Recognize and measure cash dividends,
property dividends and share dividends
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on November 26, 2020 at
1:00PM-4:00PM.
Optional Task:
1. Review the source materials provided on Google Classroom.
A – Analyze the Learners
1. Google classroom activity: Partake in the online discussion on your background and
expectations about Standard Costing. Due date: December 3, 2020, 4:00PM.
S – State Standards or Objectives
Please see topic learning outcomes
S – Select Strategies
The following teaching strategies will be used in this topic:
1. Asynchronous online learning – participation in online discussion, answering guide questions
and viewing suggested videos in YouTube
2. Offline learning – reading and self-study of printed resources
U – Utilize Technology, Media and Materials
1. Read your main reference book (Cost Accounting, 2010 Edition by Gloria Ardaniel Rante) from
pages 380 to 394.
2. After reading your book you should be able to answer the following guide questions:
a. What are the objectives of standard costing?
b. What are the uses and limitations of standard costing?
c. How does variance analysis affect cost management?
3. Attend the online class lecture on this topic on December 1 & 3, 2020 at 1:00PM-4:00PM using
Google Meet.
R – Require Learner Participation
1. Individual activity
a. Solve the test materials on pages 395 to 399.
b. Solutions of the chosen exercise problems will be presented on December 8, 2020,
c.
4:00PM using Google Meet.
E – Evaluate
1. Answer a quiz on this topic which will be posted in Google classroom on December 10, 2020 at
1:00PM-4:00PM.
Optional Task:
1. Review the source materials provided on Google Classroom.
Answer the 60-item exam that will be posted in the Google Classroom
Start Time: 1:00PM | Due Time: 4:00PM
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COURSE REQUIREMENTS:
Formative Assessment Methods:
Subject Portfolio about Every Activities each meeting
Activities indicated in the “Analysis” part of the module
Informal class recitations

Summative Assessment Methods:

Quizzes, Unit test, Recitation, Online Synchronous and Asynchronous Activities, Periodic Examinations
Note: Rubrics for each class work will be given by your instructor during the briefing before the activity.

GRADING SYSTEM:
Semestral Grade = (Prelim Grade*25%) + (Midterm Grade*25%) + (Semi-Final Grade*25%) + (Final Grade*25%)
For every grading period:
Periodic Exam – 40%
Student Course Work – 60 % (Recitation 25%, Quizzes 25%, Requirements 20%, Attendance 10%, Assignment 20%)
In order to earn a passing grade, the student should get a transmuted grade of 75%

BIBLIOGRAPHY:
Main Reference:
Cost Accounting 2010 Edition by Gloria Ardaniel Rante

Additional References:

Prepared by: Recommended by: Approved by:

JUDY ANNE T. RAMIREZ, CPA DR. GENOVEVA Y. REYES, CPA, FRIAcc DR. MARINA O. ABELLA
Instructor Dean Vice-President, Academic Affairs