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1、2AnIntroductiontoCostTermsandPurposesLearningObjectivesWhatdoesthewordcostmeantoyou?Isitthepriceyoupayforsomethingofvalue?Acashoutflow?1.DefineandillustrateacostobjectSomethingthataffectsprofitability?Therearemanydifferenttypesofcosts,andatdifferenttimesorganizationsputmoreorless2.Distinguishbet
2、weendirectcostsandindirectcostsemphasisonthem.Whentimesaregoodcompaniesoftenfocusonsellingasmuchastheycan,withcoststakingabackseat.Butwhen3.Explainvariablecostsandtimesgettough,theemphasisusuallyshiftstocostsandcuttingfixedcoststhem,asGeneralMotorstriedtodo.Unfortunately,whentimes4.Interpretunitc
3、ostscautiouslybecamereallybadGMwasunabletocutcostsfastenoughleadingtoChapter11bankruptcy.5.Distinguishinventoriablecostsfromperiodcosts6.ExplainwhyproductcostsareGMCollapsesUndertheWeightofitscomputedindifferentwaysfordif-ferentpurposesFixedCosts17.Describeaframeworkforcostaccountingandcostmanage
4、mentAfternearly80yearsastheworld’slargestautomaker,GeneralMotors(GM)wasforcedtofileforbankruptcyprotectionin2009.DecliningsalesandtheriseofJapanesecompetitors,suchasToyotaandHonda,affectedGM’sviabilitygivenitshighfixedcosts—coststhatdidnotdecreaseasthenumberofcarsthatGMmadeandsolddeclined.Adecade
5、ofbelt-tighteningbroughtGM’svariablecosts—costssuchasmaterialcoststhatvarywiththenumberofcarsthatGMmakes—inlinewiththoseoftheJapanese.UnfortunatelyforGM,alargepercentageofitsoperatingcostswerefixedbecauseunioncontractsmadeitdifficultforthecompanytocloseitsfactoriesorreducepensionsandhealthbenefit
6、sowedtoretiredworkers.Tocoveritshighfixedcosts,GMneededtosellalotofcars.Startingin2001,itbeganofferingsalesincentivesandrebates,whichforafewyearsweresomewhatsuccessful.GMalsoexpandedaggressivelyintoChinaandEurope.Butin2005,growtheffortsslowed,andGMlost$10.4billion.Asaresult,GMembarkedonareorganiz
7、ationplanthatclosedmorethanadozenplants,eliminatedtensofthousandsofjobs,slashedretirementplanbenefitsforits40,000-plussalariedemployees,andfrozeitspensionprogram.Despitethesecuts,GMcouldnotreduceitscostsfastenoughtokee