Accounting Final Study Guide

Accounting Final Study Guide - Contribution margin Ratio...

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Accounting 2020 Final Exam Study Guide Chapter 1 Managerial accounting vs. financial accounting Role of managerial accounting Chapter 3 Manufacturing vs. Nonmanufacturing costs Product Costs vs. Period Costs Direct Costs vs. Indirect Costs Materials, Labor, Manufacturing and Nonmanufacturing OH costs Examples of all these different costs Raw materials, WIP, FG, COGM, COGS – definitions, cost flows Formulas to calculate RM used, COGS, COGM Exercises/Problems: 40, 41, 48 Chapter 4 Definition of Fixed Costs, Variable Costs, Mixed Costs – examples of each Cost equation Exercises/Problems: 31, 35, 37 Chapter 5 Calculating pre-determined OH rate, apply OH How to close out the balance of over or under applied OH. Exercises/Problems: 38, 44, 50 Chapter 6 Importance of ABC costing What are unit, batch, facility and production level activities – examples of each Exercises/Problems: 35, 36 Chapter 7 Definition of operating leverage Contribution Margin
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Unformatted text preview: Contribution margin Ratio Break Even Points (both in units and in dollars) Calculation of number of units to be produced and sold to achieve a target amount of profit Exercises/Problems: 41, 47, 51 Chapter 8 Decision rules to be used in dropping a product or service, resource utilization, resource constraints and sell or process further decisions Exercises/Problems: 31, 34, 42 Chapter 9 Define the terms NPV, PI, IRR and Payback Period Which measure a company should a company use if these measures provide conflicting results? Exercises/Problems: 38, 45, 50 Chapter 10 Budgeting for planning, operating and control Advantages of budgeting Exercises/Problems: 32, 35, 38 Chapter 11 What are the potential reasons for all material, labor or overhead variances? Ideal vs. Standard Costing Exercises/Problems: 33, 35, 40, 41 Chapter 12 Define ROI, RI, EVA Exercises/Problems: 29, 37...
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Accounting Final Study Guide - Contribution margin Ratio...

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