Key Concepts for Midterm 2

Key Concepts for Midterm 2 - Key Concepts Midterm #2...

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Key Concepts Midterm #2 Chapter 3 Understand the differences between Activity-Based Costing (ABC) and Traditional Costing (we reviewed Traditional Costing systems in chapter 2). Understand and identify various activities at different activity levels: unit-level, batch-level, product-level and facility-level. For review, refer to page 129. Compute unit product cost. Compare the unit product cost calculated using a traditional costing system with the unit product cost calculated using an Activity- Based Costing system. For review, refer to Problems 3-15 and 3-18. Understand why overhead costs will shift from high-volume products to low- volume products when switching from a traditional costing system to an ABC system. For review, refer to page 135. Chapter 5 Understand the differences between absorption costing and variable costing. Understand the differences in how we calculate product costs using absorption costing and variable costing. For review, refer to pages 227-230. In addition,
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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 2 - Key Concepts Midterm #2...

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