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ACCOUNTING FINAL - PM Controllable – FC(but not...

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ACCOUNTING FINAL: THINGS TO STUDY. THINGS TO KNOW. KNOW ALL VARIANCE FORMULAS Chapter 10 - Direct Material - Price Quantity Variance - Direct Labor – Rate Efficiency Variance Whether particular variance should be investigated and by which process Chapter 11 - Definition of Flexible accounting: pg. 454. - What is it used to measure? - Flexible Budget Formula Chpater 12 - Goal Congruence - Responsibility Center – Pg. 525 STUDY - Division = Investment Center - Branch = Profit Center - Department = Revenue center - Segment reporting is very important Sales – Variable Expense = Segment CM Segment CM – Fixed Cost = Profit Margin Controllable
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Unformatted text preview: PM Controllable – FC (but not controllable) = Segment PM-What are the costs of quality? Examples (obvious examples of each) – know definition + examples-What are the ways to solve quality problems? Chapter 13-Know every single Chapter 13, formula well; -Definition + abbreviation formula -Know asset measures Chapter 14-For information to be relevant = Relevance, Accuracy, Timeliness-#1 Past info (original cost) is irrelevant, only future, new costs are relevant-#2 most involve costs or benefits that are different in among alternatives....
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