E-Book Overview
A direct, realistic, and efficient way to learn cost accounting. Fundamentals is short (approximately 700 pages) making it easy to cover in one semester. The authors have kept the text concise by focusing on the key concepts students need to master. Opening vignettes and In Action boxes show realistic applications of these concepts throughout. All chapters end with a “Debrief” that links the topics in the chapter to the decision problem faced by the manager in the opening vignette. Comprehensive end-of-chapter problems provide students with all the practice they need to fully learn each concept.
E-Book Content
Fundamentals of Cost Accounting 3e William N. Lanen University of Michigan
Shannon W. Anderson Rice University
Michael W. Maher University of California at Davis
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FUNDAMENTALS OF COST ACCOUNTING Published by McGraw-Hill/Irwin, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY, 10020. Copyright © 2011, 2008, 2006 by The McGraw-Hill Companies, Inc. All rights reserved. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited to, in any network or other electronic storage or transmission, or broadcast for distance learning. Some ancillaries, including electronic and print components, may not be available to customers outside the United States. This book is printed on acid-free paper. 1 2 3 4 5 6 7 8 9 0 WVR/WVR 1 0 9 8 7 6 5 4 3 2 1 0 ISBN MHID
978-0-07-352711-6 0-07-352711-4
Vice president and editor-in-chief: Brent Gordon Editorial director: Stewart Mattson Publisher: Tim Vertovec Director of development: Ann Torbert Development editor: Emily A. Hatteberg Vice president and director of marketing: Robin J. Zwettler Marketing director: Sankha Basu Marketing manager: Kathleen Klehr Vice president of editing, design and production: Sesha Bolisetty Senior project manager: Susanne Riedell Senior production supervisor: Debra R. Sylvester Interior designer: JoAnne Schopler Senior photo research coordinator: Jeremy Cheshareck Senior media project manager: Allison Souter Cover design: JoAnne Schopler Typeface: 10.5/12 Times New Roman Compositor: MPS Limited, A Macmillan Company Printer: World Color Press Inc. Library of Congress Cataloging-in-Publication Data Lanen, William N. Fundamentals of cost accounting / William N. Lanen, Shannon W. Anderson, Michael W. Maher. — 3rd ed. p. cm. Includes index. ISBN-13: 978-0-07-352711-6 (alk. paper) ISBN-10: 0-07-352711-4 (alk. paper) 1. Cost accounting. I. Anderson, Shannon W. II. Maher, Michael, 1946- III. Title. HF5686.C8M224 2011 657'.42—dc22 2009044025
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Dedication To my wife, Donna, and my children, Cathy and Tom, for encouragement, support, patience, and general good cheer throughout the years. Bill I dedicate this book to my husband Randy, my children Evan and David, and my parents, Max and Nina Weems. Your support and example motivate me to improve. Your love and God’s grace assure me that it isn’t necessary. Shannon I dedicate this book to my children, Krista and Andrea, and to my extended family, friends, and colleagues, who have provided their support and wisdom over the years. Michael
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About the Authors William N. Lanen William Lanen is Professor of Accounting at the University of Michigan Business School. He holds degrees in economics from the University of California, Berkeley, and Purdue University and earned a PhD in accounting from the Wharton School of the University of Pennsylvania. Bill teac