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Cost Accounting Flashcards: Budgeting, Variance Analysis & Costing Methods

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Finance - Personal Finance

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michael1tekrzp Created by 10 mon ago

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Cards in this deck(20)
What is a fixed cost in the context of cost accounting?
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What is the contribution margin in financial analysis?
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Define an indirect cost in the context of cost accounting.
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What do conversion costs consist of in manufacturing?
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What is finished goods inventory in the context of production?
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How is the predetermined overhead rate calculated in a job order costing system?
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What are the three elements of product costs?
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Which of the following is NOT a characteristic of process costing?
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What are equivalent units of production in cost accounting?
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What is target profit analysis in financial planning?
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At the breakeven point, what does the profit equal?
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Which costing method is required for GAAP external financial statements?
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Which of the following types of accounts would not be included on a budgeted income statement?
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What is the usual starting point for a master budget?
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In management analysis, what is a variance?
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What is an opportunity cost in decision-making?
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Define a sunk cost in financial decision-making.
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Which of the following options has the correct list of costs included in absorption costing?
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What is a common fixed cost in the context of business segments?
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What is the segment margin in financial analysis?
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