BUSA 8 Managerial Accounting Final Exam Chapters 16, 17, 1,

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Final Exam Study Guide
The exam will covers chapters 16, 17, 19, 2, 21, 2!, 2", 2# and 26$
%ultiple &hoice 'uestions( There will )e !! multiple*choice +uestions$ The )est way to
study is to review discussion +uestions, pro)lems and exercises completed in each o, the
chapters$ The ,ollowin- is a list o, areas that you should cover in your review$ This list is
not all inclusive, the exam may cover items not on the list$ The purpose o, the list is to
-ive you ma.or topic areas to review$
Chapter 16)
/now what -oes into the ,actory overhead account$
0eriod and product costs$ 1hat are they and what are examples o, each$
Chapter 17)
/now the .ournal entries necessary ,or costs to ,low throu-h the inventory
accounts o, a manu,acturin- company$ For example( the .ournal entries necessary
to record direct la)or or direct materials used on a .o) or to record ,actory
overhead applied$
/now how to calculate a predetermined overhead rate and understand how
,actory overhead is applied to production$
Chapter 1)
/now the three most common cost )ehavior classi,ications$ 2nderstand their
)ehavior and descriptions$ /now examples o, each 3F45E6, 78948:;E,
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/now how to do the hi-h*low method$
&alculate )rea=even$
&alculate the contri)ution mar-in ratio$
&alculate the num)er o, units o, sales that would )e necessary to reali>e an
income$
/now how to calculate ?peratin- 0ro,it 34ncome<$
Chapter !")
/now the di,,erence )etween the varia)le costin- and the a)sorption costin-
income statements$
1hat costs would )e included in the amount o, endin- inventory that would )e
reported on a varia)le costin- )alance sheet@ /now how to calculate it$
1hat costs would )e included in the amount o, endin- inventory that would )e
reported on an a)sorption costin- )alance sheet@ /now how to calculate it$
/now how to complete a varia)le costin- income statement$
/now how to complete an a)sorption costin- income statement$
1hen will the income o, a varia)le costin- income statement )e e+ual to the
income o, an a)sorption costin- income statement@
1hen will the income o, a varia)le costin- income statement )e -reater than the
income o, an a)sorption costin- income statement@ Aow do you account ,or the
di,,erence@
1hen will the income o, a varia)le costin- income statement )e less than the
income o, an a)sorption costin- income statement@ Aow do you account ,or the
di,,erence@
Chapter !1
/now how to do a sales )ud-et$
/now how to do a production )ud-et$
/now how to do a ,lexi)le )ud-et$
/now how to do a schedule o, cash collection o, accounts receiva)le 3see
exercises 17 and 1B on pa-e 96! in your accountin- text)oo=<$
Chapter !#
2nderstand the three types o, responsi)ility centers$
/now the ,ormulas ,or pro,it mar-in, investment turnover, rate o, return on
investment, and residual income$ /now how to calculate them$
Chapter !$
/now how to do a discontinue a se-ment or product pro)lem$
/now how to do a ma=e or )uy pro)lem$
/now how to do a replace e+uipment pro)lem$
/now how to do a sell or process ,urther pro)lem$
/now how to do an accept )usiness at a special price pro)lem$
Chapter !%
/now how to calculate net present value$
/now how to calculate avera-e rate o, return$
/now how to calculate cash pay)ac= period$
Chapter !6
/now and understand 8ctivity :ased &ostin- and how to determine sin-le and
multiple ,actory overhead rates$
/now how to do Sin-le and %ultiple ,actory overhead rate pro)lems$
/now how to do 8ctivity :ased &ostin- 0ro)lems$