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Accounting Best Practices, Fifth Edition by Steven M. Bragg Englewood, Colorado

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Chapter 9: Costing Best Practices

9–1Audit bills of material
9–2Audit labor routings
9–3Eliminate high-leverage overhead allocation bases
9–4Assign overhead personnel to specific sub-plants
9–5Use perfect standards for material variance reporting
9–6Eliminate labor variance reporting
9–7Follow a schedule of inventory obsolescence reviews
9–8Eliminate the tracking of work-in-process inventory
9–9Implement activity-based costing
9–10Implement throughput accounting
9–11Implement target costing
9–12Track excess capacity
9–13Limit access to unit of measure changes
9–14Report on landed cost instead of supplier price
9–15Review cost trends
9–16Review material scrap levels
9–17Revise traditional cost accounting reports

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