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Practical Product-Specific Cost Accounting (Excel Template Provided)

We provide an Excel template and instructional video for calculating product costs for your company. Ready for immediate practical application.

(5.0) 1 reviews

6 learners

  • dymanagementlab
실습 중심
cost reduction
Accounting
Excel

What you will learn!

  • cost price

  • Cost accounting

  • Product cost

DY Management Research Institute

(Director Ryu Dae-young, Ph.D. in Business Administration/Business Consultant (Finance))

This is Daeyoung Ryu, who runs the 'DY Management Research Institute' on YouTube and N Blog.

I would like to help those who are working in related fields based on my experience in the company and what I have studied in management. I will provide you with an approach that can help you in a very practical way, from cost, management, accounting, financial business plan, investment attraction, and overall management. If you would like to collaborate on a lecture I have posted or my area of expertise, please contact me by email!


※ Areas of expertise:

  • Management/cost consulting, business review, financial business plan establishment, management simulation, financial projection for investment attraction.

  • Excel practical training, data visualization using Excel, work efficiency using Excel. We will cut your work time in half.

  • We welcome lectures/work requests/Q&As related to specialized fields and YouTube videos.



※ Product-specific cost calculation

Many people who run small and medium-sized businesses or are in charge of cost accounting at small and medium-sized businesses are probably experiencing a lot of difficulties because they are unable to calculate the cost of each product. (I think the same goes for most large corporations.)


If you can't calculate the cost of each product accurately, there may be problems with determining the price of each product, and this may also be a problem with implementing the company's (sales, sales, etc.) strategy. You need to know the price of each product to set the price and implement the strategy accordingly, but if you can't calculate the cost of each product, you can't do anything accurately. You'll end up devising a strategy with your eyes closed, so success or failure will mostly depend on luck.


Based on my cost accounting experience and studies, I created this Excel file so that address companies can easily use Excel to calculate costs for each product.


I am confident that if you use this Excel to calculate the cost of each product for your company, it will be of great help in developing your company's strategies.



※ Composition of this material:


1. Prepare data for cost calculation by product


1) Sales performance summary

- Organized by quantity X unit price per product

- Organize based on 6-month, 1-year performance or 1-year plan (recommended)

- The range is large because there is variation in production volume and cost over a month.


2) Summary of monthly expenses

- Organized based on 1-month average (average of 6-month/1-year performance/1-year plan)

- Because we usually do monthly settlements


3) BOM/material cost management

- Calculating material costs by product number

- Unit price by raw material product number

- Material cost by product


2. Cost calculation by product

- Implement cost calculation for each product

- Cost calculation based on total product quantity and cost calculation per unit

- Approach based on fixed/variable cost characteristics


3. Simulation of quantity increase and decrease


* Please refer to the attached photo for details.







Recommended for
these people

Who is this course right for?

  • Cost Accountant

  • Accounting manager

Need to know before starting?

  • Accounting

  • Cost accounting

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Curriculum

All

3 lectures ∙ (48min)

Course Materials:

Lecture resources
Published: 
Last updated: 

Reviews

All

1 reviews

5.0

1 reviews

  • cosmos7님의 프로필 이미지
    cosmos7

    Reviews 4

    Average Rating 5.0

    5

    100% enrolled

    It was a very precious time being able to learn product cost calculation through Excel materials used in actual practice. It was such a great lecture because the content was based on practical Excel materials rather than theory!

    • dymanagementlab
      Instructor

      Thank you for the good reviews and comments. This is a lecture I created based on my studies and experience. I hope my lecture and materials will be helpful in your work. Thank you.

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