Cost and Managerial Accounting (Q&A)

48 Q&A

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• What is contribution margin?
• What is the cost of goods manufactured?
• What is prime cost?
• What is the difference between prime costs and conversion costs?
• What is scrap value?
• What is the contribution margin ratio?
• What is hurdle rate?
• What is a plant-wide overhead rate?
• What is an incremental cost?
• What do negative variances indicate?
• What are indirect manufacturing costs?
• What is relevant range?
• What is managerial accounting?
• What is a cost variance?
• What is a standard cost?
• What is work-in-process inventory (WIP)?
• What are production costs?
• What is a variable cost?
• What is a fixed budget?
• What are direct materials?
• What is sales mix?
• How can I get a basic understanding of cost accounting?
• What is a fixed cost?
• What is practical capacity?
• What is the production volume variance?
• What are departmental overhead rates?
• What is safety stock?
• What are semivariable costs?
• What is the coefficient of correlation?
• What are nonmanufacturing overhead costs?
• What does stepped cost mean?
• What are net incremental cash flows?
• What is simple linear regression analysis?
• What is theoretical capacity?
• What is a BOM?
• What is opportunity cost?
• What is a predetermined overhead rate?
• How can a manufacturer determine the precise cost of its products?
• What is the coefficient of determination?
• What is a dependent variable?
• What is an independent variable?
• Should a manufacturer's selling prices be based on costs?
• What is an outlier?
• What is boilerplate?
• What is a favorable variance?
• What is a flexible budget variance
• What is a product cost?
• What is an unfavorable variance?