(WIP) ACC 350 Exam 1 Study Material

Info

Pg. 2 Sarah Allison Takash ACC 350, Spring 2018 Exam 1 Study Material ● Ch. 15 : Allocation of Support Dept. Costs, Common Costs, and Revenues ….. P. 19 ○ Complete List of Terms (from end of chs, in textbook, with corresponding page #s) ….. P. ○ Terminology Definitions ….. P. ○ Direct Method ….. P. ○ Sequential (Step) Method ….. P. ○ Calculating OH Rates from Operating Departments to assign OH Costs to Products, Jobs and Services ….. P. ○ Blackboard Problems ….. P. ■ In-Class problem (followed by solutions) ….. P. ■ Case Problem (followed by solutions)….. P. ■ Haliburton Problem (followed by solutions)….. P. ■ Service Department Problem (followed by solutions)….. P. ● Time-Driven Activity Based Costing Article ○ Summary ○ How-To: TDABC Chs. 1 & 2 - Intro. To Cost Accounting: Terminology Definitions (Terms listed in study guide) 1. Product/Service cost a. The sum of the costs assigned to a product b. Can be different amounts for the same cost object, depending on the purpose of measurement c. Image illustrating some different product costs for different purposes and the value chain activities they include in their calculations (below):
Pg. 3 Sarah Allison Takash ACC 350, Spring 2018 Exam 1 Study Material 2. Period cost a. Also known as “SG&A” costs b. All costs in the income statement other than COGS c. Examples: i. Design ii. Marketing iii. Distribution iv. Customer Service v. R&D d. For manufacturing firms: i. All non-manufacturing costs in the income statement e. For retail firms: i. All costs not related to the cost of goods purchased for resale f. Treated like expenses in the periods in which they occur 3. Direct labor (DL) a. Compensation for manufacturing labor b. Assignment method: tracing/traced c. Examples: i. Wages paid to workers who convert RM to FG ii. Benefits paid to workers who convert RM to FG
Page 1 and 2: Sarah Takash ACC 350 spring 2018 Ex
Page 3: Pg. 1 Sarah Allison Takash ACC 350,
Page 7 and 8: Pg. 5 Sarah Allison Takash ACC 350,
Page 13 and 14: Pg. 11 Sarah Allison Takash ACC 350
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
Page 25 and 26: P . a. 7-9 8. The following informa
Page 27 and 28: 1=7-11 See Inventory balances for t
Page 29 and 30: P . 7-13 f- 8. The following inform
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 and 42: 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 51 and 52: Problem #3 - Activity Based Costing
Page 53 and 54: solutions ACC 350 In-Class Problems
Page 55 and 56:
Requirements: 1. Determine the plan
Page 57 and 58:
Problem #3 - Activity Based Costing
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 73 and 74:
Pg. 25 Sarah Allison Takash ACC 350
Page 75:
Summary of Article Pg. 27 Sarah All
show all

(WIP) ACC 350 Exam 1 Study Material

Create successful ePaper yourself

Delete template?

Save as template?