Professional Documents
Culture Documents
Professor: Dr. Lynda Thoman (thoman@purdue.edu - to be used for administrative questions about the lectures or the general course) Office hours: Monday 10:00 AM 12:00 AM in KRAN 505 Wednesday: 9:00 11:00 AM in KRAN 505 Administrative Assistant: Jeffrey Doll (doll2@purdue.edu - to be used for technical questions about Connect and other administrative questions) For questions about the readings or solving a specific homework problem, see the section on page 2 of this syllabus entitled, GETTING HELP WITH THE READINGS AND PROBLEMS.
Lecture times:
Section
0001 0002
Professor
Dr. Thoman Dr. Thoman
Room
FRNY G140 FRNY G140
Recitation Sections:
Section
0003 0004 0005 0006 0007 0008 0009 0010 0011 0012
Instructor
David Franco David Franco David Franco Jason Merritt Jason Merritt Jeff Doll Jason Merritt Jeff Doll Jason Merritt Jeff Doll
Room
KRAN G018 KRAN G018 KRAN G018 KRAN G018 KRAN G018 RAWL 1011 KRAN G018 RAWL 1011 KRAN G018 RAWL 1011
Instructor
David Franco
Section
Sec. 0003 Sec. 0004 Sec. 0005 Sec. 0006 Sec. 0007 Sec. 0009 Sec. 0011 Sec. 0008 Sec. 0010 Sec. 0012
Room
KRAN G018 KRAN G018 KRAN G018 KRAN G018 KRAN G018 KRAN G018 KRAN G018 RAWL 1011 RAWL 1011 RAWL 1011
Jason Merritt
Jeff Doll
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Students must also download the weekly lecture notes from the Katalyst website.
KATALYST WEBSITE
Katalyst Website: The Katalyst website for the class can be accessed at: https://webapps.krannert.purdue.edu This website contains much essential information for the class. Under the File tab on the Katalyst site one can find notes for the lectures, sample exams, check figures, solutions to problems, etc. The SharePoint discussion board can also be accessed through the Katalyst site.
OVERVIEW OF CLASS
Lecture and recitation format The course will be taught in a lecture and recitation format. On Mondays and Wednesdays the professor will focus on the theory and logic behind the problems. Lecture notes for each week, with blanks to be completed in class, will be posted on Katalyst. On Fridays we will have small recitation sessions. Class time will be used to apply the theory to new problems and to learn about industry applications of the methods. One is encouraged to ask questions and clear up problems during these sessions. Recitation sections will also be used to administer quizzes. Difficulty of the course and hours of study required This course requires dedicated, regular work. To do well a student should expect to spend 5-6 hours of study time each week. Time is needed to review the lecture notes, read the textbook, and carefully complete the Connect Plus and recitation problems.
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B. C. D. E. F.
Additional information about the recitation sessions is in the handout 201-Recitation Sessions Information-F11, that will be distributed in the first recitation session and is posted on Katalyst. The information in that handout is part of this syllabus in defining the requirements for the course.
The following provides a guide to the points required for each grade. We reserve the right to lower the cutoffs (we will not raise them). Grade A B C D Total Points 700 630 560 490 420 Percent of Total 100% 90% 80% 70% 60%
Pluses and minuses will be used; students close to the cut-off point for the next higher letter grade will receive a +; those close to the cut-off, or minimum number of points required for each letter grade, will receive a - with their letter grade. Page 4 of 19
A1. HOMEWORK (110 points) We have two types of homework in this classhomework submitted through the Connect Plus website (CP assignments) and homework submitted at the Recitation Sessions (R assignments). Homework submitted through Connect Plus (CP) website (60 points) Please note additional details about using and acquiring the Connect Plus (CP) website are available on Katalyst in the Folder, 201-CONNECT PLUS INFORMATION. During the semester, there are 14 problem assignments that must be submitted using the Connect Plus website (CP assignments). Each assignment is worth 5 points.1 We will automatically drop your 2 lowest scores; thus, the highest 12 scores will be counted for a total of 60 possible points. We encourage students to do all 14 assignments so that all of the material is mastered. CP assignments are due at noon on the date on which the problems are listed in the attached schedule. Your score on each CP assignment will be based on the work you have submitted or saved by the deadline date and time for that assignment. Homework not turned in or turned in late cannot be made up. If one has a Purdue obligation (e.g., an athletic event) or must miss a class due to an academic activity (e.g., a job interview), one must submit the CP problems early to make sure the deadline is met. If one is ill and cannot submit the homework, this will be one of the CP scores that is dropped.
Connect Plus (CP) assignments may be submitted twice as long as both submissions are completed before the due date and time; that is, if one wants to improve the score received on a CP assignment, one may redo the assignment and resubmit it once as long as the deadline has not passed. The higher of the two scores will be used in computing the grade for the course. If one wants to practice solving the CP problems after the deadline, one can access the problems by using the anonymous assignments for the homework(s). These anonymous assignments can be accessed only after the deadline for each homework assignment has passed. Since these are anonymous assignments, one does not log in, and one can have unlimited attempts to complete them. All technical issues about accessing and using the Connect Plus website should be addressed to the Administrative Assistant Jeffrey Doll (doll2@purdue.edu). All questions about solving the CP problems should be asked at Prof. Thomans weekly help session or office hours, queried at the nightly office hours, or submitted to the SharePoint Course Discussion board. Getting started and registering with Connect Plus Before trying to use the Connect Plus website, one must find the folder 201-CONNECT PLUS INFORMATION on Katalyst and download the two documents in the folder: CP Users Registration and CP Users Guide. These documents provide instructions for registering to use the Connect Plus (CP) website and for doing ones homework on the CP site. A list of Frequently Asked Questions and Hints in using the Connect Plus website is also provided in this folder. The purchase of the Connect Plus (CP) code card will allow one to register the CP code twice and only twice. If one needs to register a third time, one will have to purchase a new CP code. One does not have to re-register if one changes sections or lecture sessions.
For the Connect Plus (CP) assignments only, we will round up the points to the nearest whole number. For example, 4.3 will be rounded up to 5.0 points.
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Homework submitted at Recitation sessions or R assignments (50 points) At most recitation sessions a homework assignment will be due (R problems); a total of 12 assignments will be collected. Each assignment is worth 5 points. The recitation assignments will be collected at the beginning of the class; if a student is late for class, the homework may not be submitted.2 We will automatically drop the 2 lowest scores; thus, the highest 10 scores will be counted for a total of 50 possible points. Again, we encourage students to complete all assignments. The recitation homework assignments usually consist of 3 problems. Friday afternoon, after all recitation sections have met, we will select one problem out of the assignment to be graded. That one problem will be graded for effort. Check figures for all Recitation assignments are posted on Katalyst. After the recitation homework problems have been collected in all sections, detailed solutions will be posted. Since not all problems will be graded, and the one problem that is scored will be graded for effort, it will be important that each student check his/her work against the posted solutions. More information about this topic is in the separate handout, 201-Recitation Sessions InformationF11. A2. QUIZZES (60 points) During the semester 3 quizzes will be administered in the recitation sessions; dates are listed on the schedule in this syllabus. Each quiz is worth 20 points; there will be no make-up quizzes. If one misses a quiz due to an excused absence (ill, Purdue event, etc.), the other quizzes and the exams will be prorated to make up the extra points. If one misses a quiz due to an unexcused absence, a score of 0 will be recorded for that quiz. More information about this topic is in the separate handout, 201-Recitation Sessions Information A3. PROFESSIONALISM (80 points) Attending each lecture and recitation session is essential to doing well in this class. Paying attention and adding to the positive class atmosphere is also important. Professionalism points earned at recitations (60 points) The professionalism points in the recitation session are earned as follows: 24 points, are earned through prompt attendance to the recitation sessions; 16 points are earned by making a positive contribution to the learning environment, and the last 20 points are earned by completing a professionalism project. More information about this topic is in the separate handout, 201-Recitation Sessions Information. Professionalism points earned at lectures (20 points) Attending lectures is essential for success in this class. It will be assumed that everyone will receive the full 20 professionalism points for the lecture. However, there will be unannounced attendance checks and/or quizzes at the beginning of the class, and failure to be present will reduce the professionalism points one receives. If one is disruptive in the classtalking to ones neighbor, openly playing with ones computer or brazenly reading the newspaper, etc.this will also reduce the professionalism points earned. It is important for everyone to help make the lectures a positive learning experience.
If a student must cross campus to get to the Mgmt. 201 class or to the recitation session on time, then this problem needs to be documented; in such cases, an allowance can be made for recording attendance and handing in homework.
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A4. EXAMS (450 points) Demonstrating on exams that one has mastered the materialunderstand it well enough to apply it to new situationsis the largest point category in the class. All midterm and final examinations will be multiple-choice problems, closed book, and closed notes. The midterm examinations are not cumulative. However, the final examination is cumulative, covering all material studied during the semester. Dates and places for the midterms are as follows: Exam Midterm I* Midterm II* Day Wed. Date Time 8:00 PM 9:30 PM 8:00 PM 9:30 PM Place EE 129, WTHR 200 LILY 1105, MTHW 210, SMTH 108
Deadline to request a make-up
Final
To be announced
*See Katalyst in the week of the exam for room and seat assignments. One must bring his/her Purdue Student ID card (PUID) to all examinations and quizzes. No extra time will be given due to English language proficiency difficulties. Not all calculators may be used in the exam. Calculators that allow for storing of information and/or communicating with others or the web may not be used. Calculators that are part of phones may not be used. If a student arrives late for an examination, the student is not entitled to take a make-up exam nor will he/she receive extra time. The student will be required to turn in his/her exam with the rest of the class at the regularly scheduled time. Absences from an exam will be dealt with as follows: Unexcused absences An unexcused absence from any examination will result in a zero score for the examination. For example, if a student sleeps through an exam, he/she will receive a zero score for that exam. If a student cannot find the examination room or has the wrong time or place for the exam and misses the exam, he/she will receive a zero score for that exam.
Anticipated excused absence from an exam In the case of an anticipated excused absence (an official Purdue event, a conflict with an exam in another class) one must complete the Request to take the Make-up Exam, form that is attached at the end of this syllabus. This form must be completed and turned in to either Prof. Thoman or ones recitation instructor at least one week prior to the exam; the deadlines for requesting a make-up are listed in the table on the previous page. Late requests will not be considered. Many personal events are not valid reasons for scheduling a makeup exam. For example, make-up exams will not be scheduled for a relatives wedding, an interview (including a job interview), or travel plans to leave campus before the end of the final exam period. In these cases failure to take the regular exam will result in a zero score on the exam.
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Absence from an exam due to an excused illness In the case of an excused illness, the student should do the following: 1. Send an e-mail to Prof. Thoman and/or ones TA as soon as possible so that we are informed and can plan a make-up exam if appropriate. 2. After recovering, obtain written documentation of ones illness. We need written proof that a licensed health care provider advised the student to not take the exam on the scheduled date. The documentation must be from an attending physician or other licensed health care provider, specifying both the date(s) of coverage and the fact that the student was advised to stay home on the day of the exam. A note from PUSH simply saying that the student was seen at the clinic will NOT be enough; nor will we entertain health care providers offers to be contacted on the telephone to discuss the issue. Lastly, parents, relatives or friends are not qualified to write excuses. We fully respect Health Insurance Portability and Accountability Act (HIPAA) and Family Educational Rights and Privacy Act (FERPA) regulations and do NOT want to know the nature or any details of the illness.
B. ACADEMIC HONESTY
Students are expected to be familiar with Purdues policy on academic honesty. Any cheating that is discovered will be pursued and punished by penalties that include failure of the course. It is expected that each student will do his/her own work on all quizzes and exams. All exams and all quizzes are closed book and notes. Use of unauthorized written materials, receiving or giving verbal or written assistance from or to another student during an exam or quiz is considered cheating. Any student found to have cheated on an exam or quiz will be given a grade of F for the course. Furthermore, his/her name will be forwarded to the Dean of Students for further disciplinary action. Submitting as ones original homework printed or handwritten copies of pages from the solutions manual or copies of another students homework is also considered cheating. Allowing a student to copy ones work is also dishonest. It is acceptable for students to work with other students or other knowledgeable individuals to learn how to solve the homework problems. However, when preparing a written solution to an assignment, it is expected that the work will be the students own. Students who violate this expectationfor example, a student who submits homework that is identical or close to the solution in the answer book or two students who submit almost identical workwill receive a grade of zero for that homework and a note will be sent to the Dean of Students. A repeat offense will result in failure of the course. Plagiarizing means copying (as little as a phrase from) another persons work without proper attribution. Plagiarizing also means paraphrasing another persons work without proper attribution. When submitting any material, it is important to submit original work. If a submission is plagiarized, the student will receive 0 points for that assignment and a note will be sent to the Dean of Students. A repeat offense will result in failure of the course.
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D. INSTRUCTORS RESPONSIBILITIES
Learning is a two way street. Above we have outlined what is expected from students. The professor and instructors also have their responsibilities. The teaching group in Mgmt. 201 pledge to be in class every session, to be on time, and to convey the material to the best of their ability. (We cannot promise to always be entertaining. ) We are interested in students suggestions for improving the course. Ideas can be sent by e-mail or the SharePoint discussion board. We will make changes when several people have the same suggestion, the change is feasible, and the idea is, in our opinion, good for the class. In the past some of our best suggestions have come from students.
E. OTHER POLICIES
Responsibility for all information in the syllabus and other documents The information/guidelines in the syllabus and other handouts will be followed in the class; students are responsible for this information. No Extra Credit projects - There will not be an option to do an extra credit project for this course. Incomplete grades - Incomplete grades will be assigned rarely and only in accordance with Section VII.B.4 of the Purdue University Regulations. Responsibility for missed classes - Students are responsible for all class content and all announcements made in class and/or posted on Katalyst. For practical reasons, we cannot summarize class content for a student when a class is missed. Changes to the syllabus - In rare cases changes to the syllabus are required. These changes will be announced in class and posted on Katalyst, and students will be responsible for knowing about the changes. Campus Emergency - In the event of a major campus emergency, course requirements, deadlines, and grading percentages are subject to change that may be necessitated by a revised university calendar or other circumstances beyond the instructors control. In the event of such an emergency, information will be posted to Katalyst Page 9 of 19
Classifying costsproduct vs. period costs, variable vs. fixed costs, costs of inputs (DM, DL, OH) Analyzing fixed versus variable costs Marginal costs Naming activities in a value chain What accounting information is useful in making decisions. Determining the managerial accounting objectives of different activities (e.g., measuring costs)
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Week 2 - Chapter 2, cost definitions and flow of costs, continued Monday, August 29 Review Chapter 2 Lecture Wednesday, August 31 CP problems due at noon Lecture Friday, September 2 Recitation sessions Recitation problems due Study Problems for the week (Not collected) R(2): 2-37 2-43 2-45 2-24 2-38 2-50 Content of financial statements and reports Schedule for COGM, COGS, IS Cost classifications for a manufacturer Filling in the missing amount in the inventory equation Computing OH, COGM, COGS, NI Product versus period costs CP(1): 2-29 2-41 2-42 Schedule for COGM, COGS, IS Filling in missing amounts in COGM, COGS, IS Computing prime costs, overhead, CC and product costs
Week 3 Chapter 3, an introduction to costing products and services Monday, September 5 NO CLASS LABOR DAY Wednesday, September 7 CP problems due at noon Lecture Friday, September 9 Recitation sessions Recitation problems due R(3): 3-31 3-50 3-52 3-30 3-43 3-48 T-accounts and flow of costs COGM, COGS, IS COGM, prime costs, conversion costs Schedule of COGM Overhead rates; journal entries Job order costing; focus on overhead and cost drivers CP(2): 3-27 Job-order costing basics 3-34 Overhead rates; over- and under-applied amounts 3-35 Predetermined OH rates and various cost drivers
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Week 4 Chapter 5, activity based costing methods Monday, September 12 Read Chapter 5 Lecture Wednesday, September 14 CP(3): CP problems due at noon 5-27 5-35 5-46 Lecture Friday, September 16 Recitation session Recitation problems due Quiz Quiz 1 covering Chapters 1-3 Study Problems for the week (Not collected) 3-60 5-34 5-50 Plant-wide versus departmental overhead Classification of activities ABC; analysis of operations R(4): 5-33 5-52 5-60 Under-costing by traditional system ABC; selling costs ABC; cost analysis
Classifying activities as unit, batch, etc. Activity cost pools, cost drivers, pool rates Traditional costing versus ABC
Week 5 Chapter 6, analysis and estimation of different cost behaviors Monday, September 19 Read Chapter 6 Lecture Wednesday, September 21 CP problems due at noon Lecture Friday, September 23 Recitation session Recitation problems due R(5): 6-26 6-29 6-45 6-22 6-28 6-40 CP(4): 6-24 Behavior of fixed and variable costs 6-35 Matching the cost graph to the right cost scenario 6-39 Account classification analysis
Estimating cost behavior visual fit method Classifying accounts as variable, fixed or mixed Interpreting regression analysis Graphing cost behavior patterns Visual fit method Approximating a step-variable cost, visual fit method
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Week 6 EXAM I Monday, September 26 Lecture Wednesday, September 28 CP problems due at noon
Review for Exam CP(5): 3-55 Predetermined OH rate; different time periods; pricing 3-56 Overhead application with a predetermined OH rate 5-49 ABC, product promotion Review for exam EXAM I, covering Chapters 1-3, 5 and 6 Introduction to the CVP model.
Week 7 Chapter 7, Cost-Volume-Profit (CVP) model Monday, October 3 Read Chapter 7 Lecture Wednesday, October 5 CP problems due at noon Lecture Friday, October 7 Study Problems for the week (Not collected) No recitation sessions this week. 7-20 7-26 7-27 7-28 7-35 7-49 Question about different companies with same FC and VC Draw CVP graph and compute break-even Margin of safety; computing price to break-even (continuation of 7-26) Traditional income statement and CM income statement operating leverage factor CVP problem in sales dollars CVP model with multiple products CP(6): 7-25 7-34 7-36 Basic CVP problem Basic CVP relationships, retailer Indifference point
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Week 8 Chapter 8, what costs are included in the product cost, variable versus absorption costing Monday, October 10 NO CLASS OCTOBER BREAK Wednesday, October 12 CP problems due at noon Lecture Friday October 14 Recitation session Recitation problems due Study Problems for the week (Not collected) R(6): 8-28 8-29 8-31 8-14 8-17 8-25 Absorption, variable and throughput costing Variable and absorption costing income statements Comparison of absorption and variable costing Absorption, variable and throughput costing Difference in income under absorption and variable costing Variable and absorption income statements CP(7): 7-29 7-42 7-45 Retail; CVP analysis with multiple products Break-even point; after tax NI Break-even analysis; movie theaters
Week 9 Chapter 14, using the numbers to make decisions Monday, October 17 Read Chapter 14 Lecture Wednesday, October 19 CP problems due at noon Lecture Friday, October 21 Recitation session Recitation problems due Quiz Study Problems for the week (Not collected) CP(8): 14-31 14-35 14-36 14-37 R(7): 14-46 14-47 14-50 Machine replacement Obsolete inventory Special order Continuation of proceeding problem Introducing a new product Closing an unprofitable department Outsourcing
Quiz 2, covering chapters 7, 8 and a little on chapter 14 14-33 Drop a product line
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Week 10 Chapter 14, more on decision making Monday, October 24 Review Chapter 14 Lecture Wednesday, October 26 CP problems due at noon Lecture Friday, October 28 Recitation session Recitation problems due Study Problems for the week (Not collected) R(8): 14-40 14-53 14-55 14-49 14-57 Process further (Grit) Scarce resources allocation Analysis of special order Make or buy Production planning CP(9): 14-44 14-51 14-52 Production decisions; limited capacity Joint products, process further Add a product line
Wednesday, November 2 CP(11): CP problems due at noon 7-43 8-24 14-56 Lecture Thursday, November 3 Exam Friday, November 4
Break-even point; safety margin Variable versus absorption costing Special order
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Week 12 Chapter 9, budgeting Monday, November 7 Read Chapter 9 Old Masters Old Masters will make presentations in class; attendance will be taken at the beginning of the class. Budgeted production and direct-materials purchases Cash collections Budgeted production and raw materials purchases
Wednesday, November 9 CP(10): CP problems due at noon 9-24 9-25 9-26 Lecture Friday, November 11 Recitation session Recitation problems due Study Problems for the week (Not collected) R(9): 9-31 9-45 9-30 9-32 9-34
Professional services budget Comprehensive master budget Budgeted financial statements; retailer Production and direct labor budgets; activity based overhead budget Cash budgeting
Week 13 Chapter 10, variances Monday, November 14 Read Chapter 10 Lecture Wednesday, November 16 CP problems due at noon Lecture Friday, November 18 Recitation session Recitation problems due R(10): 10-36 10-37 10-45 10-50 Reconstructing standard cost information from partial data Operational performance measures Variance calculations Direct labor variances and interpretation CP(12): 10-28 Straightforward computation of variances 10-43 Determining standard materials costs 10-44 DM and DL variances
Last day to submit an article or project idea for approval as a professionalism project. Study Problems for the week (Not collected) 10-7 10-8 10-9 10-10 10-34 Meaning of DM price variance Who affects DM price variance Meaning of DM quantity variance Who affects DM quantity variance Cost variance investigation
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Week 14 Chapter 11, more on variances Monday, November 21 Read Chapter 11 Lecture Wednesday, November 23 and Friday, November 25 Study Problems for the week (Not collected) NO CLASSES THANKSGIVING VACATION 11-26 11-29 11-45 Straight-forward computation of overhead variances Interpretation of Variable-overhead efficiency variance Preparing and using a columnar flexible budget
Week 15 Chapter 11, completing variances, and beginning Chapter 13, other types of performance evaluation Monday, November 28 Read Chapter 13; we will start this chapter at the end of the week. Lecture Wednesday, November 30 CP problems due at noon Lecture Friday, December 2 Recitation session Recitation problems due Quiz R(11): 11-30 11-41 Reconstructing missing information from partial data Overhead calculations; variance interpretation CP(13): 11-22 Straightforward computation of overhead variances 11-32 Overhead variances 11-38 Overhead variances
Quiz 3, covering chapters 10 and 11 Last day to submit the professionalism project; a hard copy must be submitted in ones recitation session.
11-54
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Week 16 Chapter 13, transfer pricing and other performance evaluation methods and review for exam Monday, December 5 Review Chapter 13 Lecture Wednesday, December 7 CP problems due at noon CP(14): 13-29 13-33 13-34 13-37 ROI, Residual income Improving ROI General transfer pricing rule ROI and Residual Income, missing data
Lecture Friday, December 9 Recitation session Recitation problems due Study Problems for the week (Not collected)
Review for final R(12): 10-46 11-44 13-42 13-46 Computing variances and analyzing responsibility Missing data in the overhead account ROI and Residual Income; investment evaluation Comprehensive transfer pricing problem
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NAME: STUDENT ID: E-mail ADDRESS: EXAM FOR WHICH REQUIRING A MAKE-UP EXAM: RECITATION SECTION NUMBER: RECITATION INSTRUCTOR:
Below please briefly explain why you need to take a make-up for the exam. Please attach any appropriate documentation.
List all times 72 hours before and 72 hours after the regular exam that one is available to take a make-up. Please list ALL TIMES that one is not in class or at a job.
If one is approved to take the Make-up Exam, one will receive an e-mail to that effect.
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