Job order costing
Process costing
Other cost allocations
Standards and cost variances
Other stuff you ought to know
100
They are the three types of manufacturing costs
What are DM, DL and MOH?
100
It's the first step in process costing.
What is determining the physical flow of units?
100
This method of service department cost allocation ignores all flows between service departments.
What is the direct method?
100
It's what SQ stands for.
What is the standard quantity of input allowed for the actual output?
100
It's how to calculate breakeven in dollars of revenue.
What is fixed costs divided by CM ratio?
200
Normal costing accounts for DM, DL and MOH in these ways?
What are actual DM, actual DL and estimated MOH?
200
It's the third step in process costing.
What is determining total costs to account for?
200
This method of service department cost allocation ignores some flows between service departments.
What is the step method?
200
It's what SQ stands for.
What is the standard quantity of input allowed for the actual output?
200
He was prime minister of the UK during World War II.
Who was Winston Churchill?
300
It's how the predetermined MOH rate is calculated
What is estimated total MOH divided by the estimated total of the allocation base?
300
This method of process costing ignores EUs in beginning WIP.
What is weighted average?
300
This method of joint cost allocation ignores all dollar values EXCEPT the joint cost itself.
What is the physical units method?
300
It's how to calculate a DM price variance.
What is AQ purchased x (AP - SP)?
300
It oversees auditing of publicly traded companies' financial statements in the US.
What is the PCAOB?
400
If applied overhead is more than actual overhead, the OH account would be closed to COGS with this type of entry (debit or credit to OH)?
What is a debit to OH?
400
It's one of two ways to calculate FIFO EUs.
What is either
(1) weighted average EUs minus EUs in BWIP or
(2) EUs to complete BWIP + EUs completed & transferred out + EUs in EWIP
400
This method of joint cost allocation calculates the allocated joint cost as a "plug" figure.
What is the constant gross margin method?
400
It's how to calculate a DL efficiency variance.
What is SP x (AQ - SQ)?
400
A strengthening dollar will have this effect on US exports.
What is harm? (A stronger dollar means foreign buyers have to pay more of their local currency to buy US products.)
500
The amount of cost added to the manufacturing process during a period is called this.
What is total manufacturing cost?
500
It's the item from a prior process' cost calculation needed to do process costing in a subsequent process.
What is the cost transferred from the prior process to the subsequent process?
500
These two methods of joint cost allocation consider both the selling price after processing and the separable processing cost.
What are the net realizable value method and the constant gross margin method?
500
It's an interpretation of the FOH production volume variance.
What is an estimate of the cost of unused capacity?
500
Several nations including China and Vietnam are building artificial islands with military airbases, harbors, and other new facilities in this sea.
What is the South China Sea?
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