BUAD 281 Study Guide - Midterm Guide: General Ledger, Cost Driver, Direct Labor Cost
20 Sep 2017
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Chapter 1: intro to managerial accounting: language of business that tells a story through financial statements. Income statement, balance sheet, statement of cash flows and retained. Buad 281 study guide: know what questions to ask and how to analyze the information given. Predicting cost behavior in response to changes in activity. Making decisions: direct costs (easily traced, manufacturing costs (e. g. direct materials, Indirect materials materials used to make the components within the finished product. Includes solder and glue: direct labor sometimes called touch labor, labor costs that can be easily (physically and conveniently) traced to individual units of product. Job-order costing used in situation where many different products, each with individual and unique features, are produced each period: e. g. Disney has several different businesses within their company, including production, hotels, amusement parks, etc. Job cost sheet records the materials, labor, and manufacturing overhead costs charged to a particular job.
