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Managerial Accounting 1st Exam Study Guide

Managerial Accounting 1st Exam Study Guide - 9 Know the...

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Hello class, I hope you are enjoying your weekend. By now, you should have received at least one of your returned homework. The grader was putting Chapters 3 & 4 in the mail this morning. Below is a little study guide for the exam on Tuesday. See you then…. . Prof. Odell Managerial Accounting Exam 1 Below is a list of items/issues that you need to know for our exam on Tuesday night. 1. Definition of Managerial Accounting. Difference between Managerial and Financial Accounting. 2. Four W’s and what they relate to. 3. Managers must: provide the highest value at the lowest cost to customers. 4. Services that support the primary processes are…? 5. Advantages of value chain analysis are…? 6. Just in time philosophy emphasizes….? 7. The Balance Scorecard links…. .? 8. What is/is not included in the “cost” of a manufactured product?
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Unformatted text preview: 9. Know the difference between Fixed, Variable, Direct, Indirect, Period and Product, value adding or non value adding costs. 10. Statement of Cost of Goods Manufactured. 11. Know the product costing systems we reviewed. 12. What is activity based management? 13. Know the operating capacity types we discussed. 14. Problems: a. Graph with questions regarding variable and fixed costs; cost per units, etc. b. Written: discuss the difference between Job Order and Process Costing. c. Compute projected profit based on CVP d. Compute product cost based on Job order costing. e. Evaluate a management question regarding the effects of increased advertising costs and the resulting sales increase. f. Fill in table re: cost types. g. Compute and discuss breakeven point and contribution margin....
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Managerial Accounting 1st Exam Study Guide - 9 Know the...

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