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please help with these questions agerial Accounting Midterm Exam Study Guide - Chapters 1, 2, 3, 4, & 11 1. What is the main objective
please help with these questions
agerial Accounting Midterm Exam Study Guide - Chapters 1, 2, 3, 4, \& 11 1. What is the main objective of managerial accounting? 2. What functions are involved in the performance of managerial accounting? 3. What is corporate governance? 4. What are the Statements of Ethical Practice? 5. What is the Sarbanes Oxley Act? 6. What is the significance of the fraud triangle? 7. Know what period and product costs are, how they are reported, and be able to identify examples of them. 8. Know how to compute total product or total period costs. 9. What are the three types of inventory accounts? 10. What are the components of product costs? 11. What the three types of costs classified by behavior? 12. Identify which costs are fixed, which costs are variable, and which costs are mixed. 13. Understand the CVP graph and the behavior of costs. 14. How does sensitivity analysis work with CVP? 15. How does the relevant range relate to the behavior of variable and foxed costs? 16. Apply the High-Low method to determine the portion of costs that are variable and fixed. 17. How do you apply scatter graphs and regression analysis to mixed costs? 18. What is Contribution Margin and Contribution Margin ratio, and be able to calculate? 19. Compute Operating income under the Contribution Margin approach. 20. What is Operating teverage and be able to calculate it? 21. Compute Break-even, both in units and dollars. 22. Compute required sales to earn a target profit, using Break-even analysis. 23. What is Margin of safety, and be able to caiculate? 24. How does cost accumulation work? 25. What is the importance of the cost driver? 26. Be able to compute the predetermined overhead rate and use it to alocate overhead accordinghy? 27. What is the difference between direct and indirect costs? 28. How are joint costs handled? 29. What is the importance of cost allocation in regards to its impact on human behavior? 30. How is overhead allocated? 31. Be able to compute plant wide and departmental overhead rates. 32. What is the cost flow through the inventory accounts? 33. Know the difference behween evaluating costs based an function (Absorption Costing) vs. period (Variable Costing). 34. Know the components of the income Statement under Absorption costing (AAS) vs. Variable Costing (VC). 35. Compute unit product costs/operating income under both ABS and VC 36. Know how to determine the ending balance in finished goods under both Ags and VC: 37. What is the one main category of costs that causes the difference between ABS and VC? 38. He able to compute the cost of goods manufactured. 39. Be able to compute the balance in Work-in.Process and Finished Goods inventory. 40. Be able to compute the balance in Cost of Goods Sold. 41. What is the Cost of Goods Manufactured and Cost of Goods Soid statement? 42. What are the components of the Cost of Goods Manufactured/Cost of Goods Sold statement? 43. Know how to prepare the Cost of Goods Manufactured and Cost of Coods Statement Step by Step Solution
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