exam 1 review

exam 1 review - Busi 33 Opportunity for Excellence I Review...

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

View Full Document Right Arrow Icon
Busi 33 Opportunity for Excellence I Review Spring 2009 Bring a pencil, 4 function calculator (no programmable calculators or cell phones) and 4 x 6” note card (with anything you want written on it) with you to the exam Chapter 1 What are the differences between financial and managerial accounting? Lean production. What is it? What benefits does it provide? What is required to make it work? What is the theory of constraints? What is decentralization and why is managerial accounting necessary for it to work? Chapter 2 What are the three product costs? What is included in factory overhead? - Be able to give some examples of and be able to identify items that are included. What is the difference between period and product costs? Be able to prepare a schedule of cost of goods manufactured. Understand how product costs flow through an accounting system. Understand how fixed and variable costs behave in total and on a per unit basis. What are sunk/opportunity/differential costs? Chapter 3 What types of companies are likely to use job order costing? What is the purpose of a job cost sheet? How do companies keep track of materials used and labor costs? Know how to compute a pre-determined overhead rate.
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 / 4

exam 1 review - Busi 33 Opportunity for Excellence I Review...

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