MIME-Version: 1.0 Content-Location: file:///C:/CEB646F3/Accounting202Hints.htm Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset="us-ascii" Accounting 202 Hints

Accounting = 202 Hints

Exam on Cha= pters 1-3

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&nbs= p;            I.   &nb= sp;  Multiple-Choice Section: 25 questions @ 2 points ea= ch for 50 points total

= a.      = All except one is completion; one calculation

= b.      Know the difference between product costs and period costs (expenses)

= c.      = Difference between financial and managerial accounting

= d.      The three types of product costs

= e.      = What factory overhead is

= f.      = Ethics and managerial accounting code of ethics questions

= g.      Difference between fixed and variable costs (total and per unit)

= h.      Definition of contribution margin and how to calculate it

= i.      =   Graphic presentation of fixed and variable costs

= j.      =   Break-even point calculation and how contribution margin fit into the picture

= k.      Cost-plus pricing versus target costing

= l.      =   Margin of safety

= m.    How changes in fixed or variable components affect break-even point

 

&nbs= p;         II.   &n= bsp;  Four problems as follows:

= a.      = Cost items are given and you have to classify as period costs (selling or general and administrative) or product costs (direct or indirect) (13 points)

= b.      Total cost and per unit cost of providing services at four different levels of production (10 points)

= c.      = Costs to be identified as fixed, variable, or mixed (15 points)

= d.      Contribution margin and break-even point determination (12 points)