Basics
CVP
JOB COSTING
Variable/Absorption Costing
Anything But Managerial Accounting
100

This cost does not change based on the level of output. 

What is a fixed cost? 

100
The examination of the behavior of total revenues, total costs, and operating income as changes occur in the units sold, the selling price, the variable cost per unit, or the fixed costs of a product.
What is Cost-volume-profit (CVP) analysis?
100

The costing system used when a company produces unique items.

What is job costing?

100

If units produced are greater than units sold this will be the effect on inventory and Cost of Goods Sold 

What is increase inventory/decrease COGS? 

100

This is the most streamed artist on Spotify as of 02/28/2023

Who is Drake? 

200

One focuses on external users of financial information, and the other focuses on internal users. 

What is Financial and Managerial accounting? 

200
SP-VCu/SP
What is the Contribution Margin Ratio?
200
A costing system that traces direct costs to a cost object by using the actual direct-cost rates times the actual quantities of the direct-cost inputs.
What is actual costing?
200

If this number is positive then you should probably think twice before discontinuing

What is Contribution Margin? 

200

This was the second President of the United States 

Who is John Adams? 

300

These are the three types of manufacturing costs. 

What are Direct Materials, Direct Labor, and Manufacturing Overhead? 

300

Contribution Margin - Fixed Costs 

What is Break Even Point? 

300
Budgeted annual manufacturing overhead costs divided by the budgeted annual activity.
What is the budgeted (predetermined) overhead cost rate?
300

Fixed Costs + Target Profit / Contribution Margin Ratio 

What is the Break-Even Point 

300

Famous for his music, mullet, and being the father of a prominent pop star, this person released the first platinum country music song of the 1990s titled Achy Breaky Heart 

Who is Billy Ray Cyrus? 

400

This causes a company to incur variable costs. 

What is a Cost Driver? 

400
Cost per unit remains constant.
What is variable costs?
400

WIP 78,000 

Manufacturing OH 8,000 

       Raw Materials Inventory 86,000

What is the journal entry to record the usage of direct and indirect materials?

400

The salary of the CEO is one example of this type of cost when discussing segmented financial information. 

What is Common Fixed Costs? 

400

"You are my fire
The one desire
Believe when I say..."

What is "I Want it That Way"? 

500

"Don't worry about it! It's water under the bridge" could be a saying describing what type of irrelevant cost? 

What is a Sunk Cost? 

500
Calculate the Breakeven, SP $200, VCu $120, Fixed Costs $2,000.
What is 25 units
500

Actual MOH has a balance of 1,000,000 and Applied MOH has a balance of 989,000 resulting in a difference of $11,000.

What is underallocated MOH?

500

This costing method will have a higher per unit cost than variable costing. 

What is Absorption Costing? 

500

Elevation wise, this is the highest capital in the United States. 

What is Sante Fe, New Mexico?

M
e
n
u