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that you arent mi
Dynamic contribution in clubs on grounds is exceptionally esteemed by managers and master's
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I also observed
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I, first, had to seek academic advice to enable me acquire information related to business
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learn new points of view and method
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2. Prepare a production cost report for department B.
Process Cost Report DEPARTMENT A- WTAVG Method
Units started or Trans-in
TOTAL units to account for
Units Finished and Trans-out
TOTAL units accounted for
3-36 Classification of Costs (10 min)
3-55 Cost of Goods Manufactured and Sold (30 min)
3-57 Cost of Goods Manufactured and Sold (30 min)
The master budget
Prepare a master budget and explain the
interrelationships among its supporting
Discuss various behavioral considerations
The Master Budget
Basics of Budget
A common yet versatile practice
Budget vs. budgeting (the process)
"Real-world focus" on page 351 indicates budgeting is especially important for graduates
seeking entry-level positions in the service sector.
Roles of bu
The CVP model and its assumptions
Definition and interpretation
Formulas for cm per unit, total cm, and cm ratio
Change in profit = change in revenue * _
BE point: definition and interpr
COST ACCOUNTING FORMULAS & IMPORTANT TERMINOLOGIES
1. 2. 3. 4.
Prime Cost = Direct Material + Direct Labor Total Production Cost = Prime Cost + FOH Cost Conversion Cost
= Direct Labor + FOH Cost Raw Material Consumed = = Raw Material Opening + Material Pu
Exercise 3-44 Fixed, Variable and Mixed Costs
Habib Manufacturing has five manufacturing departments and operating and cost information for the most recent two year
Costs in each
1. Cost behavior for variable overhead is more difficult to predict than for direct material or direct labor cost for all the following reasons
Multiple cost drivers are involved with variable overhead.
Direct material an
1. By convention, short-term financial control is accomplished by all the following except:
Comparing actual to budgeted financial results.
Calculating a series of cost and revenue variances at the end of the period.
The use o
IU Kelley School of Business - Indianapolis
Selling & Admin.
Total Variable Costs
Selling & Admin.
Total Fixed Costs
1. A cost is not relevant if it:
Does not differ for each option available to the decision maker.
Changes from period to period.
Is a future cost.
Is a mixed cost.
Is a fixed cost.
Blocher - Chapter 11 #1
1. Assuming Martens plans to meet the expected demand for 20,000 attic fans, how many should it manufacture and how many should it
purchase from Harris Products? Explain your reasoning with calculations.
2. Idenpendent of Part 1 above, assume that Beth Jo
14: Chapter Decision Making: Relevant Costs and Benefits
MULTIPLE CHOICE QUESTIONS
Laredo manufactures Nuts and Bolts from a joint process (cost = $80,000). Five thousand
pounds of Nuts can be sold at split-off for $20 per pound; ten thousand pounds of Bo
CHAPTER 11: DECISION MAKING WITH A STRATEGIC EMPHASIS
Relevant costs are costs to be incurred at some future time and differ for each
option available to the decision maker.
Relevant costs in replacing equipment would include the cost of pu
1. The master budget for a given accounting period has all the following except:
Consisting of a series of operating and financial budgets.
Being considered the "grand plan of action" for the upcoming period.
Culminating in the produ
L03 Production Budget
L03 Production Budget
L03 Direct Materials Purchases
3.03 Direct Materials Purchases
L05 Direct Labor Budget
L03 Manufacturing Overhead
Isobel Law, the controller for Aberdeen Lock
Indiana University at Indianapolis - Kelley School of Business
Chapter 10 - Quiz 6
1. The contribution income statement would require a firm to: A. B. C. D. E. Separate fixed and variable costs. Separate revenue into different categories. Round off amounts to the nearest dollar. Ignore some estimated fixed expenses, such as