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Fundamentals of Cost Accounting

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Accounting 111 Pollard Chapter 4 Summary Learning Objectives (L.O): 1, 2, 3, and 4 Assignment: Exercises 30, 31, 37, and 38 Problems 42, 43, 47, and 51 Read the sections of the chapter which cover the Learning Objectives listed above and review the PowerPoint slides for the chapter. Use this information to complete this chapter summary. Test your understanding of the material by completing the assignment for the chapter. L.O. 1: Use differential analysis to analyze decisions. In differential analysis, we estimate revenues and costs of alternative actions available to decision makers and compare these estimates to the status quo. Over what period of time will we make decision using differential analysis in this chapter? One year What do we call this period? the short run What is a differential cost? It is a costs that changes in response to an alternative course of action; it is a difference in cost between options. Can a variable cost be a differential cost? Yes.
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Chapter 4 Key - Accounting 111 Pollard Chapter 4 Summary...

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