McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
4-1
TEST 2 REVIEW
• 20 MCQ QUESTIONS
• 45 MINUTES
• CONDUCTED USING GOOGLE FORM
• TENTATIVEE SCHEDULE:
APRIL 14, 3PM – 3.45 PM
INSTRUCTIONS:
GO TO OPEN LEARNING AROUND 2.45 PM
AT THE SAME TIME JOIN THE ZOOM AND PUT ON THE VIDEO SO I
CAN SEE YOU ALL DOING THE TEST; YOU CAN ALSO POST
QUESTION IN THE CHAT DURING THE TEST.
I WILL PUT THE LINK IN THE ANNOUNCEMENT AT AROUNF 2.45 PM.
WHEN YOU OPEN THE GOOGLE FORM, FILL IN THE NECESSARY INFO
LIKE STUDENT #, NAME, PROGRAM (BACHELOR OF BUSINESS, ETC
WHEN YOU COMPLETE ANSWERING ALL THE QUESTION BEFORE
TIMES-UP, DON’T FORGET TO SUBMIT YOUR TEST BY CLICKING ON
THE SUBMIT ICON AT THE END OF THE TEST
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
4-2
TEST 2 REVIEW
TOPICS COVERED:
1.JOC
1. TRADITIONAL METHOD
2. ABC METHOD
2.PROCESS COSTING
3.BUDGET – MASTER BUDGET & FLEXIBLE
BUDGET
4.STANDARD COSTING – COST VARIANCE
5.RELEVANT COSTING
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
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JOC
• CALCULATE POHR
• CALCULATE JOB COSTS
• DIFFERENCE BETWEEN TRADITIONAL
METHOD & ABC METHOD
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
4-4
Master
Budget
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
4-5
BUDGETING
• CALCULATE HOW MANY TO PRODUCE
• CALCULATE HOW MUCH RM TO PURCHASE
• CASH BUDGET – ENDING CASH BALANCE,
INTEREST CALCULATION
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
4-6
FLEXIBLE BUDGET
• CALCULATE FLEXIBLE BUDGETED COSTS
• DETERMINE COST VARIANCES (F OR UF)
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4-7
7
Standard Costing: A
Managerial Control
Tool (Product Cost)
“Cost Variance
Analysis”
CHAPTER 10
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
4-8
COST VARIANCES
• CALCULATE MPV, MUV, LRV, & LEV
• INTEPRET COST VARIANCES
McGraw-Hill/Irwin Copyright © 2008, The McGraw-Hill Companies, Inc.
4-9 Relevant cost
• CALCULATE RELEVANT COST FOR
SPECIFIC DECISION
• CALCULATE EFFECT ON INCOME
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