AC505 Final Exam Hints[1]

AC505 Final Exam Hints[1] - Given data, analyze a make or...

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Final Exam Hints Review and/or re-read e-Book chapters 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, and 14 Review lectures/tutorials for weeks 1 through 7 Review Discussions for weeks 1 through 7 Review midterm and mastery tests for each week Review the practice finals. Topics Covered: Differences between Product and Period costs/expenses Given data, calculate COGM and COGS Define/understand Costs of Goods Manufactured and Costs of Goods Sold Given data, calculate units needed to be sold to achieve a Target Profit Define/Understand contribution margin in a capital intensive versus a labor intensive company Define/Understand the effects to contribution margin if variable costs and/or fixed costs increase and/or decrease Calculate the breakeven point in dollars Given data, prepare a flexible budget analysis useful for decision making (controlling costs) Understand and apply production constraints and effects to contribution margin
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Unformatted text preview: Given data, analyze a make or buy decision Given an ABSORPTION basis income statement and other data, discuss the differences in net income if VARIABLE costing methods were used Understand and APPLY the concept of Overhead costs (what are OH costs?) Apply over/under applied overhead concepts Prepare a production report under the weighted average and/or FIFO method (process costing) Given data, understand (not calculate) and apply NPV decision rules Given data, calculate NPV for an investment project Given data, understand and apply both NPV and PI criteria Understand, explain, and defend the stance that, when evaluating several investment projects, management many not always select the project with the highest NPV *** Remember: the final exam must be completed in 3.5 hours ***...
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AC505 Final Exam Hints[1] - Given data, analyze a make or...

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