JJ01 - a. Depreciation b. Materials costs c. Rent d....

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1 Managerial Accounting by James Jiambalvo Chapter 1: Managerial Accounting in the Information Age Goal of Managerial Accounting 1. Planning 2. Control 3. Decision Making Cost Terms 1. Variable vs. Fixed Costs 2. Sunk Costs 3. Opportunity Costs 4. Controllable vs. Noncontrollable Costs 5. Direct vs. Indirect Costs
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2 Variable Costs Fixed Costs Mixed Costs
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3 Two Key Ideas 1. Incremental Analysis 2. You Get What You Measure! Quick Review Question #1 1. Which of the following is most likely to be a variable cost?
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Unformatted text preview: a. Depreciation b. Materials costs c. Rent d. Advertising Quick Review Question #2 2. Which of the following is most likely to be a fixed cost? a. Materials costs b. Rent c. Assembly labor cost d. Commissions 4 Quick Review Question #3 3. Costs incurred in the past are: a. Opportunity costs b. Direct costs c. Sunk costs d. Variable costs Quick Review Question #4 4. What does it mean to “Get What You Measure?”...
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This note was uploaded on 05/12/2010 for the course ACG 5065 taught by Professor Asare during the Spring '08 term at University of Florida.

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JJ01 - a. Depreciation b. Materials costs c. Rent d....

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