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Second Exam Review

Second Exam Review. Review power point slides Redo homework problems Do end of chapter review problems Review quizzes Use study guide to quiz yourself Go over examples in chapters. Review Problems. Ch Page Prob Focus 5 214 2 All 257 1 All 297 1 All 340 1 All. Formulas.

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Second Exam Review

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  1. Second Exam Review • Review power point slides • Redo homework problems • Do end of chapter review problems • Review quizzes • Use study guide to quiz yourself • Go over examples in chapters

  2. Review Problems Ch Page Prob Focus 5 214 2 All • 257 1 All • 297 1 All • 340 1 All

  3. Formulas Mixed Cost Y = a + bX Contrib. Margin Ratio CM/Sales Break Even Equation: Sales = variable cost + fixed cost + profit Break Even Contribution Margin (CM): BE in Units = fixed cost /unit CM BE in Sales $ = fixed cost/CM ratio BE Unit Target = fixed cost + target profit/Unit CM BE Sales Target = fixed cost + target profit/CM ratio

  4. Formulas • Margin of Safety = Total Sales – Breakeven sales • Degree of Operating Leverage = CM/Net Operating Income

  5. Formats • High Low Method • Scattergraph • Contribution Margin Income Statement • CVP Applications • Variable/Absorption Unit Product Cost • Variable/Absorption Income statement • Activity Based Cost Activity Rates/Cost assignment

  6. What to Bring • Scantron Form 882-E • #2 Pencil • Calculator • Chapter 8 homework

  7. Do Not Bring • Computers • Cell Phones • Translators • Unapproved calculators • Scratch paper (you won’t need any)

  8. Logistics • You must take the exam on the day scheduled for this class, unless approved by me in advance • Multiple Choice 14 1.25 17.5 • True False 8 1.25 10 • Problems 4 6 24 Points Possible 51.5

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