Fundamentals of Cost Accounting

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Accounting 111 Pollard Chapter 5 Summary Learning Objectives (L.O): 1, 2, 3, and 4 Assignment: Exercises 22, 23, 24, and 25 Problems 37, 39 (a only) 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: Understand the reasons for estimating fixed and variable costs. What is the most important characteristic about the costs of a business? Which costs remain constant in total when activity level changes? Which costs change in total when activity level changes? Total costs = + or TC = + Name the 3 methods of cost estimation: 1. 2. 3. L. O. 2: Estimate costs using engineering estimates. How are costs estimates derived using the engineering approach? Name the advantages and disadvantages of this method: Advantages Disadvantages L. O. 3: Estimate costs using account analysis.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Chapter 5 - Accounting 111 Pollard Chapter 5 Summary...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online