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This 1 page Class Notes was uploaded by Marissa Flood on Friday February 19, 2016. The Class Notes belongs to at 1 MDSS-SGSLM-Langley AFB Advanced Education in General Dentistry 12 Months taught by in Summer 2015. Since its upload, it has received 8 views.
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Date Created: 02/19/16
Managerial Accounting-Exam #1 Study guide Date: 02/04/2016 125 points Chapter 1 Differences between managerial and financial accounting Manager’s duties Everything that you need to know is on the BB Course Document. 1 or 2 questions Chapter 2 All the definitions Different kind of Inventories for Manufacturing companies; Value chain Inventoriable product Cost for internal and external reporting Calculation of inventoriable cost for Merchandising and manufacturing companies Recognition of Direct and indirect costs Calculation of Cost of Goods Manufactured & Cost of Goods Sold for both all companies Calculation of Direct Material used Calculation of Gross profit Recognizing different kind of costs (Fixed, Variable; controllable; uncontrollable; etc.) Calculating Avg cost; Prime cost; conversion costs Chapter 3 Job and process costing Determining and calculation of job’s cost Flow of inventory Allocating MOH to a job (know the whole calculation) Using job’s cost to make business Decisions Dealing with NonManufacturing costs How to deal with Under or Overallocated MOH Journal entries for different part of cost calculation and adjusting MOH (all the J/E that we discussed in the class). Calculation of Gross profit (after closing the MOH and adjusting COGS) Don’t worry about CostPlus pricing
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