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Chapter 14

Be aware of what managerial accounting information involves (i.e. who uses managerial accounting

information, what is it used for, etc.)

Know how period costs are expensed, and how product costs become an expense.

Know how to prepare Cost of Goods Manufactured Schedule.

Chapter 15

Know how to calculate a predetermined overhead allocation rate, how to apply/allocate overhead,

how to determine over- or under-allocated manufacturing overhead and the journal entry to close out

that over-or under-applied overhead at the end of the period.

Know how to make journal entries relevant to the flow of costs in the job order cost system.

Chapter 16

Be able to calculate equivalent units of production using the weighted-average method.

Chapter 17

Be able to allocate two overhead cost pools to two products using Activity Based Costing.