This course is structured to enable the student to analyse the various elements of manufacturing costs.  Emphasis is placed on the calculation of unit cost of a product or service and the recording of the relevant cost information.

By the end of this course of study, you should be able to:

  • distinguish various types of costs
  • demonstrate understanding of inventory planning and control and apply modern inventory management techniques such as JIT and MRP.
  • compute gross and net wages and apply various wage incentive schemes.
  • construct an overhead analysis sheet and calculate cost centre allocation rates.
  • explain the features of a job order costing system
  • record the transactions in a job order costing system in the relevant ledger accounts and prepare financial statements.