(WIP) ACC 350 Exam 1 Study Material

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Pg. 21 Sarah Allison Takash ACC 350, Spring 2018 Exam 1 Study Material Refer to (#16) “Activity Based Costing” definition. ABC groups indirect costs into homogenous activity-cost pools, each having a cost-allocation base. The cost-allocation base is the driver of costs in the activity-cost pool. It is used to determine indirect cost-rates for individual activities. Those rates are used to compute product costs based on the product’s cost-allocation base consumption per unit. 31. Steps: a. Identify cost objects i. cost pools ii. products/services b. Identify direct costs of the product i. DM ii. DL c. Select the activities and/or cost allocation bases for indirect costs d. Identify the indirect costs associated with each cost-allocation base e. Compute the rate per unit of each cost allocation base f. Compute allocation amounts to assign to each product g. Compute the total assigned costs of a product i. Sum: 1. All direct costs traced 2. All indirect costs allocated h. Illustration of steps (below):
Pg. 22 Sarah Allison Takash ACC 350, Spring 2018 Exam 1 Study Material Determining the profitability of products Summary: The profitability of a product is the net gain a company receives for providing it. This is often represented as a percentage called the “operating profit margin.” ● Operating profit margin ○ Also known as: ■ Operating income margin ■ Operating margin ■ Return on Sales (ROS) ○ Is a percentage
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Page 17 and 18: Ptt e. chs . Review 1132 Problems C
Page 19 and 20: P . 7 per - 3 solutions Ch. 2 Revie
Page 21 and 22: P . be 7-5 COMPUTATIONAL QUESTION 1
Page 23 and 24: P . Efg 7-7 Inventory balances for
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Page 31 and 32: p . Be 7-15 #2 - COGM / COGS Hanks
Page 33 and 34: a. t 7- it Solutions ACC 350 In-Cla
Page 35 and 36: P . soft 7-19 InClass Problems - Ch
Page 37 and 38: 20. Cost hierarchy Pg. 16 Sarah All
Page 41: 29. Steps: Pg. 20 Sarah Allison Tak
Page 47 and 48: Solutions ACC 350 Practice problem
Page 49 and 50: Problem #2 - Activity Based Costing
Page 53 and 54: solutions ACC 350 In-Class Problems
Page 55 and 56: Requirements: 1. Determine the plan
Page 59 and 60: Standard: ($42,500 * .50) / 15,000
Page 61 and 62: Solutions Milwaukee Company Problem
Page 63 and 64: d. Determine the gross margin (per
Page 65 and 66: InClass Problems - Chapter 4 Requir
Page 67 and 68: Requirements: a. Determine the plan
Page 69 and 70: $1,715,071 $1,854,929 # of Units 50
Page 71 and 72: $1,715,071 $1,854,929 # of Units 50
Page 75: Summary of Article Pg. 27 Sarah All

(WIP) ACC 350 Exam 1 Study Material

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