Review Problems for Exam 2

Review Problems for Exam 2 - ACCT 226 Fergusson Spring 2011...

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ACCT 226 – Fergusson Spring 2011 Review Topics/Problems for Exam 2 Topics that you should study include, but are not limited to , the following: Processing Costing (Chapter 4): Process costing versus job-order costing Calculating units transferred to next department Calculating equivalent units Calculating cost per equivalent unit Assigning cost to units completed and transferred out and to ending WIP Activity-Based Costing (Chapter 3): Impact of adopting ABC on product costs Unit-, batch-, product-, and facility-level activities Calculating activity rates Applying MOH using ABC Calculating unit product cost using ABC Cost Behavior (Chapter 5): Types of costs and how they behave – be able to identify different types of costs Analyze mixed costs using the high-low method Identify cost behavior patterns with graphs CVP Analysis (Chapter 6): Calculating Total CM, CM per unit, and CM ratio Effect on NOI with changes in VC, FC, selling price, and/or sales volume Cost-Volume-Profit (CVP) Graph Calculating breakeven in units and dollars Calculating units to be sold to generate a target profit Sales Mix PLEASE NOTE: The above list is only a brief outline of the topics that you should study. Some of these topics cover a lot of material. Remember, you are responsible for all of the material in Chapters 3-6, all the homework assignments, as well as everything that we have covered in class, unless I have specifically said that you will not be tested on certain material.
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