ACCT 2301 Study Guide - Midterm Guide: Long-Range Planning, Outsourcing, Opportunity Cost
16 Dec 2016
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Sarbanes oxley act of 2002: internal control, ceo & cfo certifications, hotline for whistleblowing, code of ethics. Product cost inventory (balance sheet) cogs (income statement) Used in manufacturing process, future economic benefit, owned/controlled. Direct materials, direct labor, manufacturing overhead (depreciation on manufacturing equipment) Office rent, administrative salaries, office supplies, deprecation of office furniture, sales commission, Chapter 2 cost behavior, operating leverage, and profitability analysis. Chapter 3: analysis of cost, volume, and pricing to increase profitability. Net income = revenue variable costs - fixed costs. Contribution margin per unit: sales price variable cost per unit. Margin of = budgeted sales breakeven sales. Sales volume = fixed costs + desired profit. Break-even point = total units x proportionate share of sales mix. Allocation rate = total cost to be allocated. Allocation per: allocation rate* weight of the cost object cost driver (weight of the base) Overhead rate estimated allocation base for the year. Chapter 5: cost management abc, abm and tqm.
