UNIVERSITY OF SANTO TOMAS

UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

TABLE OF SPECIFICATIONS
Course: CA5107- Cost Accounting and Control Academic Year: 2022-2023
Assessment: Final Examination Term: Second

Lesson C1 C2 C3 C4 C5 C6 C7 Theory Problem Total

Introduction to Cost Management

• ● Financial Accounting versus Cost 1 1 1

Management

• Relationship between financial accounting,

managerial accounting, and cost accounting

• Professional certification available for cost

accountant

and management accountant

Basic Concepts

• ● Cost assignment process 1 1 1

• ● Different types of cost 2 2 2

UST:A016-00-FO52 rev01 10/04/22

2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/
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UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

• ● Income statement for manufacturing and

service organization 1 1 1

• ● Computation of cost using absorption

costing

• ● Computation of cost per unit

Cost Behavior
● Basics of Cost Behavior 1 1 1
● Resources, activities, and cost behavior 1 1 1
● Methods Determining Behavior 2 1 1 2
Factory Overhead and Activity- Based Costing

• The traditional predetermined overhead rate 1 1 1

• Calculation and disposition of overhead 2 1 1 2

variances
• Limitations of plantwide and departmental
overhead rates
• Activity-Based Costing 1 1 1
System
o Activity definition or Activity
classification
o Assigning costs to
activities
• Classifying Activities 1 1 1
o Unit-level activities o Batch-level activities o
Product-level
activities
o Facility-level activities
Allocating Costs of Support Departments
UST:A016-00-FO52 rev01 10/04/22
2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/
 UNIVERSITY OF SANTO TOMAS
UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

● Type of departments
o Producing departments
o Support departments
• Choosing a Support Department Cost
Allocation Method 1 1 1
o Direct Method 1 1 1
o Sequential Method o Reciprocal Method
• Departmental Overhead Rates and Product
Costing
• Support Department Cost Allocation Benefits
Product and Service Costing: Job-Order System

• Characteristics of the production process 2 2 2

• General description of Job- Oder Costing
System

• Source Documents in Job- Order Costing

System
• Material Requisitions
• Job Time Tickets
• Job-Order Cost Sheet

● Journal Entries 4 4 4
o Accounting for Direct Materials
o Accounting for Direct Labor Cost
o Accounting for Overhead
o Accounting for Finished Goods Inventory
o Accounting for Cost of Goods Sold
o Accounting for Nonmanufacturing Costs

● Accounting for Spoiled Units

UST:A016-00-FO52 rev01 10/04/22

2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/
 UNIVERSITY OF SANTO TOMAS
UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

Process Costing
• Basic operational and cost concepts 2 1 1 2

• Cost flows

• The Production Report

• Physical Flow and Equivalent Unit of 3 2 1 3

Production (EUP)

• Calculating Unit Costs, Assigning Costs to 1 1 1

Inventories, and Reconciliation

• The Five Steps of the Production Report

• FIFO Costing Method

• Weighted Average Costing Method

• Journal Entries

• Treatment of Transferred- in Goods

Lost Units/ Spoiled Goods

The Joint Production and By-Products

Allocation Joint Production Costs 1 1 1
Physical Units Method
1. Sales-Value-at-Split- Off Method 2 2 2

UST:A016-00-FO52 rev01 10/04/22

2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/
 UNIVERSITY OF SANTO TOMAS
UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

2. Net Realizable Value Method 1 1 1

Accounting for By-Products 2 1 1 2

Standard Costing: A Functional-Based Control
Approach
• Developing Unit Input Standards 1 1 1

• Usage of Standard Costing Systems

• Standard Cost Sheets

• Variance Analysis and Accounting: Direct 1 1 1

Materials and Direct Labor

• Accounting for Direct 3 3 3

Materials Price and Usage Variances

• Disposition of Direct Materials and Direct

Labor Variances
• Variance Analysis:

Overhead Costs:

o Four-variance Approach
o Three-variance approach
o Two-variance approach
1 1 1
Accounting for Overhead Variances

Total Items 20 20 40
UST:A016-00-FO52 rev01 10/04/22
2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/
 UNIVERSITY OF SANTO TOMAS
UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

Point Per Item 2 3

Total 40 60 100

UST:A016-00-FO52 rev01 10/04/22

2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/
 UNIVERSITY OF SANTO TOMAS
UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

The table of specifications and the assessment instrument were prepared, reviewed, and approved by the following academic staff:

Prepared by: Reviewed by:

Asst. Prof. Earl Jimson Garcia Asst. Prof. Antonio Dayag, Ph.D.
(signature over printed name of academic staff) (signature over printed name of the cluster head)
Date: Date:

Approved by:

(signature over printed name of the chairperson or

assistant dean or dean)
Date:

Appendix
Course Intended Learning Outcomes
Number CILO Higher or Lower Order?
C1 Differentiate financial accounting from managerial accounting. Lower Order
C2 Explain the relevance of cost accounting for financial reporting and decision- Lower Order
making.
C3 Calculate the product cost of various cost objects by preparing a statement of the Higher Order
cost of goods manufactured using actual, normal, and standard cost measuring
techniques.
C4 Apply different techniques in segregating manufacturing overhead costs into Higher Order
variable and fixed components, and compute predetermined overhead rates by
considering a departmentalized overhead rates, service department costs, and
activity-based costing method.
UST:A016-00-FO52 rev01 10/04/22
2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/
 UNIVERSITY OF SANTO TOMAS
UST - ALFREDO M. VELAYO COLLEGE OF ACCOUNTANCY

C5 Apply the different cost accumulation techniques in a manufacturing business. Higher Order
C6 Prepare job-order cost sheet, cost of production report and the necessary journal Higher Order
entries for a manufacturing type of business.
C7 Compute, journalize, and evaluate variances applying the standard costing system. Higher Order

UST:A016-00-FO52 rev01 10/04/22

2F, Albertus Magnus Bldg., UST, España Boulevard, Sampaloc, Manila, Philippines, 1015
Telephone: +632 34061612 | +632 34061611 local 8812 / 4465 | e-mail: college.accountancy@ust.edu.ph
Website: http://www.ust.edu.ph/accountancy/ | Facebook: https://www.facebook.com/ustamvcoa2005/