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Summary Managerial Accounting, 7th Edition James Jiambalvo Complete Test Bank

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Course
Managerial Accounting, 7th Edition (ACC5301)

Institution
Columbia Southern University

Book
Managerial Accounting

Managerial Accounting, 7th Edition James Jiambalvo Complete Test Bank. TABLE OF CONTENTS 1 Managerial Accounting in the Information Age 1-1 Goal of Managerial Accounting 1-2 Cost Terms Used in Discussing Planning, Control, and Decision Making 1-7 Two Key Ideas in Managerial Accounting 1-10 ...

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acc 5301
managerial accounting
managerial accounting
job order costin
7th edition james jiambalvo
7th edition james jiambalvo complete test bank2023
managerial accounting in the information age 1 1

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Managerial Accounting, 7th Edition James Jiambalvo Complete Test Bank_2023.

TABLE OF CONTENTS

1 Managerial Accounting in the Information Age 1-1

Goal of Managerial Accounting 1-2

Cost Terms Used in Discussing Planning, Control, and Decision Making 1-7

Two Key Ideas in Managerial Accounting 1-10

The Information Age and Managerial Accounting 1-13

Ethical Considerations in Managerial Decision Making 1-17

The Controller as the Top Management Accountant 1-20

Chapter Review: Summary of Learning Objectives / Review Problems / Key Terms / Self-
Assessment 1-22

End-of-Chapter Homework: Questions / Exercises / Problems / Cases 1-25

Appendix: IMA Statement of Ethical Professional Practice 1-32

2 Job-Order Costing for Manufacturing and Service Companies 2-1

,Cost Classifications for Manufacturing Firms 2-2

Product Cost Information in Financial Reporting and Decision Making 2-6

Balance Sheet Presentation of Product Costs 2-7

Flow of Product Costs in Accounts 2-8

Income Statement Presentation of Product Costs 2-8

Types of Costing Systems 2-11

Overview of Job Costs and Financial Statement Accounts 2-11

Job-Order Costing System 2-13

Eastlake Revisited: Using Job Cost Information 2-18

Relation Between the Costs of Jobs and the Flow of Costs in Work in Process, Finished Goods, and
Cost of Goods Sold 2-19

Allocating Overhead to Jobs: A Closer Look 2-20

Predetermined Overhead Rates 2-21

Job-Order Costing for Service Companies 2-24

Modern Manufacturing Practices and Product Costing Systems 2-27

Chapter Review: Summary of Learning Objectives / Review Problems / Key Terms / Self-
Assessment 2-30

End-of-Chapter Homework: Questions / Exercises / Problems / Cases 2-35

3 Process Costing 3-1

Difference between Job-Order and Process Costing Systems 3-2

Product and Cost Flows 3-3

Calculating Unit Cost 3-6

Calculating and Applying Cost per Equivalent Unit: Mixing Department Example 3-7

Production Cost Report 3-9

Basic Steps in Process Costing: A Summary 3-11

Kent Chemical Revisited: Answering Stacy’s Question 3-12

,Dealing with Transferred-in Cost: Packaging Department Example 3-12

Process Costing and Incremental Analysis 3-14

“You Get What You Measure!” and Manufacturing Processes 3-15

Chapter Review: Summary of Learning Objectives / Review Problems / Key Terms / Self-
Assessment 3-16

End-of-Chapter Homework: Questions / Exercises / Problems / Cases 3-20

4 Cost-Volume-Profit Analysis 4-1

Common Cost Behavior Patterns 4-2

Cost Estimation Methods 4-6

Cost-Volume-Profit Analysis 4-14

Multiproduct Analysis 4-19

Assumptions in CVP Analysis 4-23

Codeconnect Example Revisited: Answering Mary’s Questions 4-23

Operating Leverage 4-24

Constraints 4-25

Chapter Review: Summary of Learning Objectives / Review Problems / Key Terms / Self-
Assessment 4-26

End-of-chapter Homework: Questions / Exercises / Problems / Cases 4-30

Appendix: Using Regression in Microsoft Excel to Estimate Fixed and Variable Costs 4-46

5 Variable Costing 5-1

Full (Absorption) and Variable Costing 5-2

Effects of Production on Income for Full Versus Variable Costing: The Clausentube Example 5-5

Benefits of Variable Costing for Internal Reporting 5-12

Variable Costing Limits Management of Earnings via Production Volume 5-12

Chapter Review: Summary of Learning Objectives / Review Problems / Key Terms / Self-
Assessment 5-13

, End-of-Chapter Homework: Questions / Exercises / Problems / Cases 5-17

6 Cost Allocation and Activity-Based Costing 6-1

Purposes of Cost Allocation 6-2

Process of Cost Allocation 6-5

Allocating Service Department Costs 6-8

Problems with Cost Allocation 6-10

Activity-Based Costing 6-14

Activity-Based Management 6-23

Remember—You Get What You Measure! 6-24

Chapter Review: Summary of Learning Objectives / Review Problems / Key Terms / Self-
Assessment 6-25

End-of-Chapter Homework: Questions / Exercises / Problems / Cases 6-29

Appendix: Activity-Based Management 6-46

7 The Use of Cost Information in Management Decision Making 7-1

Incremental Analysis 7-2

Analysis of Decisions Faced by Managers 7-5

Decisions Involving Joint Costs 7-14

Qualitative Considerations in Decision Analysis 7-17

Chapter Review: Summary of Learning Objectives / Review Problems / Key Terms / Self-
Assessment 7-18

End-of-Chapter Homework: Questions / Exercises / Problems / Cases 7-21

Appendix: The Theory of Constraints 7-34

8 Pricing Decisions, Customer Profitability Analysis, and Activity-Based Pricing 8-1

The Profit-Maximizing Price 8-2

Pricing Special Orders 8-4

Cost-Plus Pricing 8-5

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