032910_for_posting_v2003

032910_for_posting_v - Exam 2 overview • Friday April 2 2010 in your section 50 minutes • 20 multiple choice questions on CH 6-10(approx

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Unformatted text preview: Exam 2 overview • Friday April 2, 2010 in your section, 50 minutes • 20 multiple choice questions on CH 6-10 (approx. equally weighted) • Approx. 1/3 word answers and 2/3 calculations • CH 9 does not include Manufacturing Cycle Efficiency • Simple calculators only; bring spare batteries, pencils, erasers • Violations of the Broad Honor Code include sharing information with other students during the exam or passing information along to students in other sections have serious consequences. Report any violations. Kattelus -Spring 2010 1 Extension of Excel Due Dates • ABI-WE 4 (CH 7-8-9 comparing costing systems and SmartArt) Due Monday 4/5/10 11pm • ABI-WE 5 (CH 8-10 dynamic model, flexible budgeting, pivot tables) Due Friday 4/16/10 • ABI-WE 6 (CH 13 Capital budgeting and time value of money) Due Friday 4/30/10 Kattelus - Spring 2010 2 CH 10 Flexible Budgets and Overhead Analysis 1. Flexible budgets can be more useful than static budgets 2. Fixed overhead budget variances – relate to cost savings in the components of fixed overhead; e.g., supervisors’ salaries, occupancy costs 3. Fixed overhead volume variances – relate to capacity issues Kattelus -Spring 2010 3 Advantage of flexible over static budgets • Can be prepared for any level of activity in the relevant range, not just one planned level • Shows costs that should have been incurred at that actual level of activity • Allows for “apples” to “ apples ” comparisons to improve performance evaluations Kattelus -Spring 2010 4 Key to preparing a flexible budget: Recall: – Total variable costs change in direct proportion to changes in activity. – Total fixed costs remain unchanged within the relevant range....
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This note was uploaded on 10/17/2011 for the course ECON 101 taught by Professor Thompson during the Spring '11 term at Michigan State University.

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032910_for_posting_v - Exam 2 overview • Friday April 2 2010 in your section 50 minutes • 20 multiple choice questions on CH 6-10(approx

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