This textbook covers how to apply managerial accounting techniques to problems in areas such as cost estimation, cost control, product pricing, and business segment discontinuation. It also discusses how to assess and evaluate cost and profitability analysis of financial projects.
Cost Analysis for Engineers and Scientists introduces managerial accounting techniques that can be applied to problems in the areas of cost estimation, cost control, product line or business segment discontinuation, profitability analysis, and project management. It also presents product costing and manufacturing cost allocation to an individual as well as joint products. The concepts and applications of cost-volume-profit and breakeven analysis for single-product and multiple products are also discussed.
This textbook is intended for short-term courses and seminars conducted to train professionals and practitioners in engineering and manufacturing cost analysis.
A solutions manual and PowerPoint slides are available for qualified textbook adoptions.
Table of Contents
1. Accounting Informational Systems. 2. Manufacturing Costs. 3. Inventory Valuation and Cost of Goods Sold. 4. Methods of Product Costing. 5. Cost Estimating Methods. 6. Joint Cost Allocation. 7. Cost-Volume-Profit (CVP) Analysis – Short-Term. 8. Cost-Volume-Profit (CVP) Analysis – Long-Term. 9. Financial Analysis. Appendix: A. List of Notations and Abbreviations. B. Compound Interest Factors. C. Selected References. D. Answers to Selected Problems.
Fariborz (Fred) Tayyari is a professor of Industrial & Manufacturing Engineering & Technology at Bradley University. He holds a bachelor’s degree in Cost Accounting, Masters of Business Administrations (MBA), Masters of Science in Industrial Engineering (MSIE) and PhD in Industrial Engineering. He has been teaching Engineering Economy, Engineering Costs Analysis and Operations Research for more than 35 years. He also served a major technical and construction company as chief accountant and as a budget officer during his military service. He received a certification as a Professional Engineer (PE) from the state of Texas, a certified Professional Ergonomist (CPE) and as a Certified Safety Professional (CSP). He has published book chapters on topics such as Total Cost Analysis of Modern Automated Systems, and Joint Cost Allocation.