Questions from Cost Accounting

Q: Name three factors that will affect the classification of a cost as

Name three factors that will affect the classification of a cost as direct or indirect.

Q: Define contribution margin, contribution margin per unit, and contribution margin

Define contribution margin, contribution margin per unit, and contribution margin percentage.

Q: Give examples of two cost objects in companies using job costing.

Give examples of two cost objects in companies using job costing.

Q: What is the relevant range? What role does the relevant-

What is the relevant range? What role does the relevant-range concept play in explaining how costs behave?

Q: Describe the five-step decision-making process.

Describe the five-step decision-making process.

Q: How does an increase in the income tax rate affect the breakeven

How does an increase in the income tax rate affect the breakeven point?

Q: What three guidelines help management accountants provide the most value to managers

What three guidelines help management accountants provide the most value to managers?

Q: Knowledge of technical issues such as computer technology is a necessary but

Knowledge of technical issues such as computer technology is a necessary but not sufficient condition to becoming a successful management accountant.” Do you agree? Why?

Q: What is operating leverage? How is knowing the degree of operating

What is operating leverage? How is knowing the degree of operating leverage helpful to managers?

Q: Frisco Corporation is analyzing its fixed and variable costs within its current

Frisco Corporation is analyzing its fixed and variable costs within its current relevant range. As its cost driver activity changes within the relevant range, which of the following statements is/are...