ACCT_2000_EXAM_3_study_outline - Contribution margin income...

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ACCT 2000 Study Outline 3 rd Exam Fall 2009 Managerial accounting vs. financial accounting Cost terminology (definitions and examples of each) Fixed Variable Mixed Direct Indirect Committed Discretionary Opportunity Differential Sunk Product Period High low method for breaking down a mixed cost into its fixed and variable components (calculations) Breakeven analysis (concepts and calculations) Breakeven point in dollars Breakeven point in volume Desired profit in dollars Desired profit in volume
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Unformatted text preview: Contribution margin income statement format • Sensitivity analysis (concepts and calculations) • The master budget components (6 budgets) • Calculation of the production/purchases budget • Calculation of cash received from customers in the cash budget • Variances (what is a variance) and calculations of Raw material price variance Raw material efficiency variance Labor rate variance Labor efficiency variance • Possible causes of variances...
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