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Study Guides for COMM 305 at Concordia University

Managerial Accounting

COMM 305 Study Guide - Final Guide: Sunk Costs, Opportunity Cost, Fixed Cost

COMM 305 Final Theory Review Chapter 7: Incremental Analysis Relevant information - 2 criteria: 1. It must be different across alternatives 2. It must affect the future note* fixed costs and sunk costs are usually irreleva...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: Variable Cost, Net Income, Sunk Costs
Exam

Incremental analysis identifies the probable effects of management decisions on future earnings. True False In incremental analysis, total fixed costs will always remain constant under alternative cours...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: Total Absorption Costing, Contribution Margin, Communist Party Of Estonia
Exam

Full costing is equivalent to absorption costing. True False Variable costing is the approach used for external reporting under generally accepted accounting principles. True False T...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Final: Chapter6
Exam

An assumption of CVP analysis is that all costs can be classified as either variable or fixed. True False The contribution margin per unit is the amount that each unit sold contributes towards covering fixed and variable c...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: Contribution Margin, Budget, Asset Turnover
Exam

Budget reports comparing actual results with planned objectives should be prepared weekly to be most effective. True False Cash budget reports are often prepared daily, whereas others are prepared less...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: W. M. Keck Observatory, Indirect Costs, Manicure
Exam

Who does management consult in order to set standard costs for direct materials? Usually management hires cost accountants. Standard costs are established by repetitive process. Management may have...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: Cost Driver, Prescription Drug, Infotrac
Exam

Current trends in manufacturing include less direct labour and more overhead. True False A cost driver does NOT generally have a direct cause-effect relationship with the resources consumed. T...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: Afterall, Cost Accounting, Finished Good
Exam

Process cost systems are used to apply costs to merchandise inventory. True False In a process cost system, costs are tracked through individual jobs. True False One Work in Process a...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: Cost Accounting, Income Statement, Financial Statement
Exam

Cost accounting is primarily concerned with allocating overhead. True False A job cost accounting system is appropriate for homogeneous products that are continuously mass produced. True ...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: General Ledger, Transfer Pricing, Variable Cost
Exam

Time-and-material pricing is widely used in service industries. True False As more companies globalize their operations, fewer transfers are happening between divisions that are in different countries....

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Final: Chapter2
Exam

Both direct material cost and indirect material cost are product costs. True False Raw materials are equal to direct materials. True False The total cost of a finished product generally contains equal amounts of material, ...

Commerce
COMM 305
Fred Mc Gregor
COMM 305 Study Guide - Final Guide: Operating Leverage, Cost Driver, Rotational Molding
Premium

Review Session Chapter 2 : Winter 2014 The following information relates to Walnut Ltd. for the year ended December 31, 2013: Sales ...

Commerce
COMM 305
Ibrahim Aly
COMM 305 Study Guide - Final Guide: Printed Circuit Board, Total Absorption Costing, Opportunity Cost
Premium

Solution to Question I Part A: 12 marks a) Based on the provided information calculate the break-even point in sales dollars for the company for the year ending March 31, 2017. (3 Marks) 1. Prepare CVP Incom...

Commerce
COMM 305
Ibrahim Aly
Commerce
COMM 305
shanenicholls

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