What is the relevant learning from this business case in relation to managerial accounting?

Concepts in Action Job Costing on Cowboys Stadium Over the years, fans of the National Football League have iden- rified the Dallas Cowboys as "America's Team." Since 2009, however, the team known for winning five Super Bowls has become just as recognized for its futuristic new home, Cowboys Stadium in Arlington, Texas. When the Cowboys take the field, understanding each week's game plan is critical for success. But for Manhattan Construction, the company that managed the development of the $1.2 billion Cowboys Stadium project, understanding costs is just as critical for making successful pricing decisions, winning contracts, and ensuring that each project is prof- itable. Each job is estimated individually because the unique end-products, whether a new stadium or an office building, demand different quantities of Manhattan Construction's resources. In 2006, the Dallas Cowboys selected Manhattan Construction to lead the construction of its 73,000 seat, 3 million- square-foot stadium. To be completed in three years, the stadium design featured two monumental arches spanning about a quarter-mile in length over the dome, a retractable roof, the largest retractable glass doors in the world (in each end zone), canted glass exterior walls, 325 private suites, and a 600-con Jumbo Tron hovering 90 feet above the field. With only 7% of football fans ever setting foot in a professional stadium, "Our main competition is the home media center," Cowboys owner Jerry Jones said in unveiling the stadium design in 2006. "We wanted to offer a real experience that you can't have at home, but to see it with the technology that you do have at home." Generally speaking. the Cowboys Stadium project had five stages: (1) conceptualization, (2) design and plan- ning, (3) preconstruction, (4) construction, and (5) finalization and delivery. During this 40-month process, Manhattan Construction hired architects and subcontractors, created blueprints, purchased and cleared land, devel- oped the stadium-ranging from excavation to materials testing to construction-built out and finished interiors, and completed last-minute changes before the stadium's grand opening in mid-2009. While most construction projects have distinct stages, compressed timeframes and scope changes required dili- gent management by Manhattan Construction. Before the first game was played, Manhattan Construction success- fully navigated nearly 3.000 change requests and a constantly evolving budget. To ensure proper allocation and accounting of resources, Manhattan Construction project managers used a job- costing system. The system first calculated the budgeted cost of more than 500 line items of direct materials and labor costs. It then allocated estimated overhead costs (supervisor salaries, rent, materials handling, and so on] to the job using direct material costs and direct labor-hours as allocation bases. Manhattan Construction's job-costing sys- tem allowed managers to track project variances on a weekly basis. Manhattan Construction continually estimated the profitability of the Cowboys Stadium project based on the percentage of work completed, insight gleaned from previous stadium projects, and revenue earned. Managers used the job-costing system to actively manage costs, while the Dallas Cowboys had access to clear, concise, and transparent costing data. Just like quarterback Tony Romo navigating opposing defenses, Manhattan Construction was able to leverage its job-costing system to ensure the successful construction of a stadium as iconic as the blue star on the Cowboys' helmers. Sources: Dillon, David. 2009. New Cowboys Stadium has grand design, but discipline isn't compromised The Dallas Morning News, June 3. hip d'a ww.dallanews.com/sharedoomedwventoric.DN stadiumarchitecture_0dad.ART Scame Edition2.$125:7c.hul; Knudson, Brooke. 2008 Profile Dallas Cowboys Stadium. Construction Today, December 22. Mop:/www.construction-sexdipcommems1/comenovicw/1 175/139/1/04 Licago, Richard. 20309. Inside the new Dallas Cowboys stadium. There, September 21. hup:awwcrime.com/timeation'snickel,2599.1924535,00,hurl; Penny, Mark, Project Manager, Manhattan Construction Co. 2010. Interview. January 12