8e Cost Accounting Foundations and Evolutions Michael R. Kinney, Texas A&M University Cecily A. Raiborn, Texas State University—San Marcos Australia • Brazil • Japan • Korea • Mexico • Singapore • Spain • United Kingdom • United States Cost Accounting: Foundations and Evolutions, Eighth Edition Michael R. Kinney, Cecily A. Raiborn Vice President of Editorial, Business: Jack W. Calhoun Editor-in-Chief: Rob Dewey Senior Acquisitions Editor: Matt Filimonov Developmental Editor: Krista Kellman Editorial Assistant: Lauren Athmer Marketing Manager: Natalie Livingston Marketing Coordinator: Heather Mooney Content Project Manager: Holly Henjum Senior Media Editor: Scott Fidler Frontlist Buyer, Manufacturing: Doug Wilke Permission Account Manager, Image: Deanna Ettinger Permission Account Manager, Text: Mardell Glinksi Schultz Production Service/Compositor: Integra Software Services Senior Art Director: Stacy Jenkins Shirley Internal Designer: Mike Stratton © 2011, 2009 South-Western, Cengage Learning ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution, information storage and retrieval systems, or in any other manner—except as may be permitted by the license terms herein. For product information and technology assistance, contact us at Cengage Learning Customer & Sales Support, 1-800-354-9706. For permission to use material from this text or product, submit all requests online at www.cengage.com/permissions. Further permissions questions can be emailed to
[email protected] ExamView® is a registered trademark of eInstruction Corp. Windows is a registered trademark of the Microsoft Corporation used herein under license. Macintosh and Power Macintosh are registered trademarks of Apple Computer, Inc., used herein under license. © 2011 Cengage Learning. All Rights Reserved. Library of Congress Control Number: 2009942310 ISBN-13: 978-1-4390-4461-2 Cover Designer: Mike Stratton Cover Image: iStock Photo ISBN-10: 1-4390-4461-9 Loose leaf Edition: ISBN-13: 978-0-538-79828-0 ISBN-10: 0-538-79828-9 South-Western Cengage Learning 5191 Natorp Boulevard Mason, OH 45040 USA Cengage Learning products are represented in Canada by Nelson Education, Ltd. For your course and learning solutions, visit www.cengage.com. Purchase any of our products at your local college store or at our preferred online store www.CengageBrain.com. Printed in the United States of America 1 2 3 4 5 6 7 13 12 11 10 09 Brief Contents Contents iv Preface xi Acknowledgments xvii Chapter 1 Introduction to Cos