ACIS_2116_Topics_Test_2

ACIS_2116_Topics_Test_2 - ACIS 2116 TOPICS COVERED TEST 2...

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

View Full Document Right Arrow Icon
ACIS 2116 – T OPICS C OVERED – T EST 2 C HAPTER 5 - A PPENDIX Process Costing A. Process Costing – Weighted Average Method 1. Combine units in beginning inventory with units started in current period. 2. Calculate the equivalent units of production. 3. Calculate manufacturing costs per equivalent unit. 4. Allocate costs between finished goods and work in process inventories. C HAPTER SIX Activity-Based Costing A. ABC Costing vs. Traditional overhead allocation 1. ABC - allocate overhead costs based on activities that drive costs. 2. Traditional overhead allocation - use 1 or 2 volume-based cost drivers 3. Effect of overhead allocation method on high-volume vs. low-volume products B. ABC Costing 1. Unit-, batch-, product, and facility-level costs 2. Activities 3. Cost drivers 4. Overhead rate for each activity 5. Total overhead cost 6. Total production cost 7. Compare overhead calculated using ABC costing to overhead calculated using traditional costing. C. ABC and service/nonmanufacturing industries D. Benefits and Limitations of ABC C HAPTER S EVEN
Image of page 1

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

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

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern