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C253 Advanced Managerial Accounting Study Guide Exam And Actual Answers. $9.49
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C253 Advanced Managerial Accounting Study Guide Exam And Actual Answers.
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Material Overhead Rate (Labor Hours) - Answer Estimated Overhead/Estimated Labor Hours Cost Per Part - Answer (Direct Materials + Direct Labor + (overhead rate * amount of overhead))/units COGS - Answer (Beg. Materials+Purchased Materials+End Materials)+Direct Labor+(Overhead for Lab...

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  • October 29, 2024
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  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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C253 Advanced Managerial Accounting
Study Guide Exam And Actual Answers.
Material Overhead Rate (Labor Hours) - Answer Estimated Overhead/Estimated Labor Hours



Cost Per Part - Answer (Direct Materials + Direct Labor + (overhead rate * amount of overhead))/units



COGS - Answer (Beg. Materials+Purchased Materials+End Materials)+Direct Labor+(Overhead for
Labor)+(Beg work in process-End work in process)



Predetermined Overhead Rate - Answer Estimated total manufacturing overhead/Estimated total
amount of allocation base



Manufacturing Overhead Applied - Answer Predetermined Overhead Rate x Actual amount of
allocation base



Total Manufacturing Cost - Answer Direct Materials + Direct Labor + Overhead



COGS Manufactured - Answer Direct Materials+Direct Labor+Manufacturing Overhead Applied+Beg
Work in Process-End Work in Process



What industry uses job order costing - Answer Legal Services



Adjusted COGS - Answer Unadjusted COGS-under/overapplied overhead



What type of business is process costing? - Answer Flour Manufacturer



What are absorption costing product costs? - Answer Materials, Labor, Variable Manufacturing
Overhead and Fixed Manufacturing Overhead (No selling and general admin)

, What are variable costing product costs? - Answer Materials, Labor and Variable Manufacturing
Overhead (no fixed costs)



Absorption Cost - Answer (((Material+Labor+Variable Manufacturing Overhead)*Units Produced)+Fixed
Costs)/Units Produced



Net Income - Answer Sales Revenue - Expense (Revenue - (Absorption Cost*Units Sold) - (Variable
SG&A*Units Sold)-Fixed SG&A



Fixed Manufacturing Overhead Per Unit - Answer (COGS-Variable Manufacturing)/Units Sold



How do variable and absorption costing compare? - Answer Net income under absorption costing is
higher than variable costing when units produced are greater than units sold



Gross Profit Margin - Answer ((# Units Sold*Price per Unit)-((# Units
Sold*(Materials+Labor+Overhead)))/(# Units Sold*Price Per Unit)



Activity Rate - Answer Estimated Overhead/Total Product Hours



Allocated Overhead - Answer (Total Overhead for Activity/Total Used) & compute for each activity



Forecasted Gross Margin - Answer (Units*Sales)-(Units*Materials)-(Units*Labor)-(Units*Overhead)



Relevant Costs Are - Answer The costs that are different between two choices



Segment Margin - Answer Sales-Variable Expenses-Relevant Costs



What is the most reliable determinant for taking on a project - Answer Net Present Value (NPV)



What is the Present Value Factor - Answer Investment/Return

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