Review Problems for Final Exam

Review Problems for Final Exam - ACCT 226 Fergusson Spring...

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ACCT 226 – Fergusson Spring 2011 Review Topics/Problems for Final Exam The final exam will consist of 50 multiple-choice questions worth 2 points each. There will be twenty questions from Chapters 10-12 (new materials) and thirty questions from Chapters 1-9 (old material). Some questions will be definitional/conceptual in nature while others will require you to perform a calculation in order to answer the question. Topics that you should study include, but are not limited to , the following: New Material (Chapters 10-12): Responsibility Centers ROI and Residual Income (you should know how to perform all calculations related to these two performance measures, as well as, the advantages/disadvantages of each, and conceptually what would cause each to increase/decrease) Segmented income statement Cost concepts for decision making such as differential costs, opportunity costs, sunk costs, etc. Adding and dropping product lines and other segments Make or buy decision Special orders Basic present value computations Capital budgeting (you should know how to perform calculations using the payback method, simple rate of return, and net present value, as well as a conceptual understanding of each method) Calculating present value of net cash flows occurring during a specific year Deciding between alternative projects using net present value analysis Old Material (Chapters 1-9): Cost classifications (very important) Calculating Cost of Goods Manufactured (COGM) Calculating Cost of Goods Sold (COGS) Over- versus underapplied MOH Equivalent units Cost per equivalent unit and cost assigned to ending WIP and/or units transferred out
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Review Problems for Final Exam - ACCT 226 Fergusson Spring...

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