ASSESSMENT REPORT
for
BU110 – COST ACCOUNTING
Prepared by Professor Kathleen Villani
June 15, 2015
BU110 – Cost Accounting – Spring 2015 – Course and Students Assessed
The Course assessed is BU110 – Cost Accounting – which is a course that normally only students
enrolled in the AAS – Accounting program (BA2) will register. This course is a 4 credit, 5 hour course.
In the Spring 2015 semester, two sections of BU110 were offered. The day class – Section B24, and the
evening class – Section M13. Only the day class was assessed. The day class originally had 26 students
enrolled of which 3 students withdrew and one student almost never attended and was given an
unofficial withdrawal. Because the students withdrew at various times, all 26 students were included in
the assessment but when appropriate it was noted if the student was absent or withdrew.
Student Learning Outcomes
BU110 Objectives:
1. Prepare a Cost of Goods Manufactured Schedule.
2. Record journal entries for a job-order cost system.
3. Prepare a cost of production report for a process cost system.
4. Prepare a flexible budget and performance report.
5. Analyze standard costs and variances, and record the appropriate journal entries.
General Education Objectives:
2. Use analytical reasoning to identify issues or problems and evaluate evidence in order to make
informed decisions.
3. Reason quantitatively and mathematically as required in their fields of interest and in everyday life.
6. Differentiate and make informed decisions about issues based on multiple value systems.
Assessment Report – BU110 – K. Villani
Page 2 of 10
Assignments for BU110
In this course, ten chapters are covered. For the lecture on each chapter, the theory is presented and
explained, and then the accounting tasks are demonstrated. At the end of each chapter, Exercises and
Problems are assigned to the students to do as homework. Each Exercise and Problem assigned for
homework is thoroughly reviewed in class.
Appendix A displays the BU110 Course Objectives, General Education Objectives, and the Assignments
that relate to the Objectives.
Appendix B displays sample problems.
Evidence of Student Achievement
Throughout the course, four exams were given. Each exam covered two or three chapters. The exam
format is similar to the exercises and problems given as homework and reviewed in class. The solution
for each problem on the exam is given a point value for each line of the solution for the format, the
labels, the accounts, and the dollar values.
On the exams are problems that cover the five BU110 Course Objectives listed above. The exam
problems and the scoring on the exams are used to determine the extent to which the student learned
the material and achieved the student outcome.
Analysis and Summary of the Assessment Results
A rubric was prepared to assess each of the exam problems that related to a course objective and
hence, a student outcome.
Appendix C displays the rubric.
Appendix D displays the summary of the results of the rubric.
Appendix E displays sample student artifacts which were used to make determinations in the rubric.
Description of the Assessment Results
For BU110 Course Objectives 1 – 4, the results are quite strong: 57% scored 4 and 16% scored 3 (total of
73%). Add to that the withdrawal and unofficial withdrawal (absence) which was 14% and that accounts
for 87% of the students. The remaining 13% are those that scored a 2 (6%), 1 (3%) and 0 (4%).
When BU110 Course Objective 5 is included, the results skew downward a bit: 51% scored 4 and 15%
scored 3 (total of 66%). Add to that the withdrawal and unofficial withdrawal (absence) which was 14%
and that accounts for 80% of the students. The remaining are those that scored a 2 (5%), 1(3%) and 0
(12%), a total of 20% which is a significant number of students.
The downward skew is caused by the BU110 Course Objective 5 which has a total of 43% which scores a
1 (4%) and 0 (39%). This is a strong indication that this objective is not being met by enough students: 11
students out of 26 students enrolled in the course. If you analyze it in terms of students that completed
Assessment Report – BU110 – K. Villani
Page 3 of 10
the course, it is 11 out of 22 students which are 50% of the students that completed the course but were
not successful in learning BU110 Course Objective 5.
As previously stated, this course is taken by students majoring in accounting. They have successfully
completed BU101 and BU102, Principles of Accounting Parts I and II. They may also have taken or are
currently enrolled in BU103 or BU104, Intermediate Accounting Parts I and II. These courses – BU101,
102, 103, 104 – are courses in Financial Accounting. BU110 is a course in Managerial Accounting.
Emphasis in this course is on the managerial concepts not the financial concepts. This course is
dedicated to teaching and illustrating the new managerial concepts presented in this course which the
students did not experience in Financial Accounting. The rubric indicates that this is successful for BU110
Course Objectives 1 – 4 but not for BU110 Course Objective 5.
The recommendation is for more time to be spent on Standard Cost Accounting – about close to two full
weeks of the semester. This should be made up by spending slightly less time on BU110 Course
Objectives 2 (Job Order Cost), 3 (Process Cost) and 4 (Budget and Performance Report) where well over
half of the students score a 4 in the rubric.
Assessment Report – BU110 – K. Villani
Page 4 of 10
APPENDIX A – BU110 COURSE OBJECTIVES, GENERAL EDUCATION
OBJECTIVES, AND ASSIGNMENTS
BU110 Course Objective
General
Education
Objective
Assignments
Exercises
Problems
1. Prepare a Cost of Goods
Manufactured Schedule.
2, 3
1-7
1-4
2. Record journal entries for a joborder cost system.
2, 3
1-10, 1-11
1-7
3. Prepare a production report, and
record journal entries for a process
cost system.
2, 3
5-11
6-1, 6-2
5-1, 5-2, 5-3,
5-7, 5-10
6-1, 6-8
4. Prepare a flexible budget and
performance report.
2, 3, 6
7-8, 7-9, 7-10
5. Analyze standard costs and
variances, and record the
appropriate journal entries.
2, 3, 6
8-1, 8-2, 8-10,
8-15, 8-18
Assessment Report – BU110 – K. Villani
Page 5 of 10
APPENDIX B – SAMPLE ASSIGNMENTS
P1-4
Statement of cost of goods manufactured; income statement; balance sheet
The adjusted trial balance for Kokomo Furniture Company on November 30, the end of its first month
of operation, is as follows:
The general ledger reveals the following additional data:
a. There were no beginning inventories.
b. Materials purchases during the period were $33,000.
c. Direct labor cost was $18,500.
d. Factory overhead costs were as follows:
Required:
1. Prepare a statement of cost of goods manufactured for the month of November.
th
Appendix B Sample Assignments copied from Principles of Cost Accounting,16 ed, VanDerbeck,
2013 South-Western Cengage Learning
Assessment Report – BU110 – K. Villani
Page 6 of 10
APPENDIX B – SAMPLE ASSIGNMENTS – continued
P1-7
Journal entries; account analysis
Selected account balances and transactions of Vista Manufacturing Co. follow:
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Factory supplies. . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Work in process . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Finished goods. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Beginning Bal May 1 Ending Bal May 31
$ 6,000
$ 5,500
800
900
3,500
6,500
12,000
13,200
May Transactions:
a. Purchased raw materials and factory supplies on account at costs of $45,000 and $10,000, respectively.
(One inventory account is maintained.)
b. Incurred wages during the month of $65,000 ($15,000 was for indirect labor).
c. Incurred factory overhead costs in the amount of $42,000 on account.
d. Made adjusting entries to record $10,000 of factory overhead for items such as depreciation (credit
Various Credits). Factory overhead was closed to Work in Process.jobs were transferred to Finished
Goods, and the cost of jobs sold was charged to Cost of Goods Sold.
Required:
Prepare journal entries for the following:
1. The purchase of raw materials and factory supplies.
2. The issuance of raw materials and supplies into production.
(Hint: Be certain to consider the beginning and ending balances of raw materials and supplies as well as
the amount of the purchases.)
3. The recording of the payroll.
4. The distribution of the payroll.
5. The payment of the payroll.
6. The recording of factory overhead incurred.
7. The adjusting entry for factory overhead.
8. The entry to transfer factory overhead costs to Work in Process.
9. The entry to transfer the cost of completed work to Finished Goods. (Hint: Be sure to consider the
beginning and ending balances of Work in Process as well as the costs added to Work in Process this
period.)
10. The entry to record the cost of goods sold. (Hint: Be sure to consider the beginning and ending
balances of Finished Goods as well as the cost of the goods finished during the month.)
th
Appendix B Sample Assignments copied from Principles of Cost Accounting,16 ed, VanDerbeck,
2013 South-Western Cengage Learning
Assessment Plan – BU110 – K. Villani
Page 7 of 10
APPENDIX C – RUBRIC FOR BU110 – COST ACCOUNTING
General
Education
Objective
BU110 Objective
4
3
2
1
0
90-100%
format of schedule
correct; and
labels/names
correct; and
dollar values correct
80-89%
format of schedule
mostly correct; and
labels/names mostly
correct; and
dollar values mostly
correct
70-79%
many errors in format
of schedule; or
labels/names; or
dollar amounts
60-69%
format of schedule
mostly incorrect; and
labels/names mostly
incorrect; and
dollar values mostly
incorrect
0-59%
all incorrect or
did not do the
problem
2, 3
1. Prepare a Cost of Goods
Manufactured Schedule.
2, 3
2. Record journal entries for
a job-order cost system.
debit account
correct; and
credit account
correct; and
dollar value correct
most debit accounts
correct; and
most credit accounts
correct; and
most dollar values
correct
many errors in debit
account; or
credit account; or
dollar values
debits accounts mostly
incorrect; and
credit accounts mostly
incorrect; and
dollar values mostly
incorrect
all incorrect or
did not do the
problem
2, 3
3. Prepare a cost of
production report for a
process cost system.
format of cost of
production report
correct; and
labels/names
correct; and
dollar values correct
format of cost of
production report
mostly correct; and
labels/names mostly
correct; and
dollar values mostly
correct
many errors in format
of cost of production
report; or
labels/names; or
dollar amounts
format of cost of
production report
mostly incorrect; and
labels/names mostly
incorrect; and
dollar values mostly
incorrect
all incorrect or
did not do the
problem
2, 3
4. Prepare a flexible budget
and performance report.
format of budget
and performance
report correct; and
labels/names
correct; and
dollar values correct
format of budget and
performance report
mostly correct; and
labels/names mostly
correct; and
dollar values mostly
correct
many errors in format
of budget and
performance report;
or labels/names; or
dollar amounts
format of budget and
performance report
mostly incorrect; and
labels/names mostly
incorrect; and
dollar values mostly
incorrect
all incorrect or
did not do the
problem
2, 3, 6
5. Analyze standard costs
and variances, and record
the journal entries.
computations of
variances correct;
and journal entries
correct
most computations of
variances correct; and
most journal entries
correct
many errors in
variances
computations;
many errors in journal
entries
computations of
variances mostly
incorrect; and
journal entries mostly
incorrect
all incorrect or
did not do the
problem
Assessment Plan – BU110 – K. Villani
Page 8 of 10
APPENDIX D – SUMMARY OF THE RESULTS FOR THE RUBRIC FOR BU110 – COST ACCOUNTING
General
Education
Objective
2, 3
2, 3
2, 3
2, 3
BU110 Objective
1.
2.
3.
4.
Prepare a Cost of Goods
Manufactured Schedule.
Record journal entries for a
job-order cost system.
Prepare a cost of
production report for a
process cost system.
Prepare a flexible budget
and performance report.
SUBTOTAL
2, 3, 6
5.
Analyze standard costs and
variances, and record the
journal entries.
TOTAL
4
3
2
1
0
ABS
(WU)
W
TOTALS
COUNT
12
8
1
0
2
2
1
26
PERCENTAGE
46%
30%
4%
0%
8%
8%
4%
100%
COUNT
17
2
1
2
1
2
1
26
PERCENTAGE
64%
8%
4%
8%
4%
8%
4%
100%
COUNT
15
4
2
0
1
1
3
26
PERCENTAGE
58%
15%
8%
0%
4%
4%
11%
100%
COUNT
15
3
2
1
1
1
3
26
PERCENTAGE
58%
11%
8%
4%
4%
4%
11%
100%
COUNT
59
17
6
3
5
6
8
104
PERCENTAGE
57%
16%
6%
3%
4%
6%
8%
100%
COUNT
7
3
1
1
10
1
3
26
PERCENTAGE
27%
11%
4%
4%
39%
4%
11%
100%
COUNT
66
20
7
4
15
7
11
130
PERCENTAGE
51%
15%
5%
3%
12%
5%
9%
100%
Assessment Plan – BU110 – K. Villani
Page 9 of 10
APPENDIX E – SAMPLE ARTIFACTS
Assessment Plan – BU110 – K. Villani
Page 10 of 10
APPENDIX E – SAMPLE ARTIFACTS - continued