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Overview_of_Chapters_for_Final_StudyGuide

Overview_of_Chapters_for_Final_StudyGuide - Overview of...

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Overview of Chapters for Final Chapter 9 Know your terms! Static vs. Flexible budget Be able to construct a flexible budget and/or Performance Report Variable O/H Variances- Spending Efficiency Fixed O/H Variances Budget Variance Volume Variance Know the formulas to get the above variances. Best bets… Brief Exercises Section Problems Careful review of Chapter and terms Homework assignments
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Chapter 10 Terms!... Decentralization, Cost Centers, Traceable Common Costs Formulas… ROI NOI/Avg oper assets Margin NOI/Sales Turnover Sales/Avg Oper assets ROI Margin x T/O Residual Income Excess return over mini ROI See book page 437, know this format. Best bets… Know the formulas Know how you “control” the formulas
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Chapter 11 Terms! Differential Cost Incremental Cost Opportunity Cost Sunk Cost Avoidable Cost Common Fixed Cost Key concept for chapter… Avoidable costs are relevant, unavoidable costs are not! Isolate relevant costs! Don’t consider them in your cost analysis necessary to make decisions.
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