accounting review

accounting review - Lecture Chapter Eleven I What is the...

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Lecture Chapter Eleven I. What is the difference between a static and a flexible budget? II. What should be considered when choosing an activity base for the flexible budget? III. Should the flexible budget show the actual activity base or the standard activity base? IV. What are the two fixed overhead variances, and how are they calculated? V. What is the relationship between overhead variances and over or under- applied overhead? Lecture Chapter Twelve I. What are the advantages and disadvantages to decentralization? II. What are the three responsibility centers? III. What is the difference between traceable and common fixed costs? IV. What are some of the problems companies face when assigning costs? A. Omitting some costs altogether B. Not allocating costs that could be allocated C. Allocating costs incorrectly D. Allocating costs that should not be allocated
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V. What is return on investment, and how is it calculated? VI.
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This note was uploaded on 04/20/2008 for the course ACTY 2110 taught by Professor Hetzel during the Winter '07 term at Western Michigan.

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accounting review - Lecture Chapter Eleven I What is the...

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