Key Concepts for Midterm 1

Key Concepts for Midterm 1 - Key Concepts for Midterm 1...

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Key Concepts for Midterm 1 This outline is to serve as a study guide for the first midterm exam.  The material listed in this  outline should not be considered entirely inclusive of the material on the actual exam.  Further  prepare yourself for the exam by reading and completing assigned homework problems. Chapter 1 Manufacturing costs o Direct vs. indirect materials o Direct vs. indirect labor o What makes up manufacturing overhead? Nonmanufacturing costs o Product vs. period costs o How is each treated in regards to the balance sheet and income statement? o What is the equation for each? Schedule of cost of goods sold (remember we build upon this template in chapter 2) Cost of goods sold  How to calculate net operating income
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This note was uploaded on 04/16/2008 for the course ACCT 202 taught by Professor Adams during the Spring '08 term at CSU Chico.

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Key Concepts for Midterm 1 - Key Concepts for Midterm 1...

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