Recent Tutoring Session Reviews
"We covered overhead budgets that included variable amount per unit, total fixed cost , flexible budgets at 65%, 75% and 85% of capacity, how to compute total fixed costs using 75% of capacity, direct materials cost variance, direct labor cost variance, actual budget and computing variance for each variable and fixed cost and deciding whether each was favorable or unfavorable, did a sales budget. The student grasped the concepts covered. The student had a lot of homework this week and we could not cover all of it in the time allotted. She is going to contact me if we need to meet again before her work is due."
"The student and I did some review for his second exam coming up on Wednesday. Today we primarily covered the differences between variable and absorption costing. He had a review sheet that we went over with multiple choice questions. We were able to talk through and work out about 10-15 problems. We will meet again tomorrow to continue to cover the review sheet. In between, he will review the book chapters so he can grasp the concepts better."
"We worked on problems concerning calculations of gains or losses on sales of fixed assets, capitalization of land, buildings, land improvements and what is to be included in each, discount of notes payable and effective interest rate, calculation of interest on notes payable and how to accrue interest, adjusting entries from cash to accrual accounting. The student needed a little explanation and practice to solve the problems, but she seemed to gain more understanding on each of the problems we addressed. I demonstrated on paper how to address the problems, how to calculate answers, and the journal entries that were needed."