221 Final Cheat Sheet - Chapter 1: 4 Stages of cost systems...

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Unformatted text preview: Chapter 1: 4 Stages of cost systems : broken, financial reporting driven, customized (stand alone), integrated Chapter 3 : Op. Leverage: describes effects of fixed costs on O.I. CVP analysis: looks at total revenues, total costs and O.I. as changes occur in output, price, costssets prices Margin of Safety: Difference b/t budgeted and breakeven sales Break-even Rev: FC/CM% Chapter 7 : Static Budget: master budget. Based on level of output planned at start of budget period. Flexible Budget: adjusted after change in actual conditionbased on actual output level Level 3 analysis: Price Variance (AQ AP) - (AQ SP) = AQ (AP - SP) Efficiency Variance (AQ SP) - (SQ SP) = SP (AQ - SQ) Chapter 9 : Throughput costing treats all costs except those related to direct materials as period costs. Only direct materials are inventoriable. Chapter 10 : Cost Estimation Approaches: Industrial Engineering Method-...
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This note was uploaded on 10/31/2007 for the course H ADM 221 taught by Professor Gpotter during the Fall '05 term at Cornell University (Engineering School).

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221 Final Cheat Sheet - Chapter 1: 4 Stages of cost systems...

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