Managerial Accounting Practice Tests, Flashcards & More | Varsity Tutors

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Master Managerial Accounting

61

TOPICS

10

SECTIONS

SKILL MASTERY

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61 skills · 958 questions

All Skills

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61 core skills 100% total weight

01

Flexible Budgets

02

Interpreting Variances

03

Spending & Efficiency Variances

04

Budgeted Financial Statements

05

06

Operating Budgets

07

Sales & Production Budgets

08

Selling & Administrative Budgets

09

Comparing Capital Projects

10

Internal Rate of Return (IRR)

11

Net Present Value (NPV)

12

Payback & Accounting Rate of Return

13

Break-Even Point

14

CVP Sensitivity Analysis

15

Margin of Safety & Operating Leverage

16

Target Profit Analysis

17

Break-Even with Sales Mix

18

Weighted-Average Contribution Margin

19

Fixed Overhead in Inventory

20

Reconciling Variable & Absorption Costing

21

Variable vs. Absorption Costing Income

22

ABC vs. Traditional Costing

23

Activity Rates & Cost Allocation

24

Activity-Based Costing (ABC)

25

Cost of Goods Manufactured & Sold

26

27

Job Order Cost Flows

28

Predetermined Overhead Rate

29

Costs per Equivalent Unit

30

Equivalent Units of Production

31

Process Costing: Cost Assignment

32

Reconciling Physical & Cost Flow

33

Contribution Margin

34

Direct vs. Indirect Costs

35

Product vs. Period Costs

36

Relevant Range & Step Costs

37

Variable, Fixed & Mixed Costs

38

Cost Drivers & Activity Bases

39

High-Low Method

40

Scatterplots for Cost Estimation

41

Balanced Scorecard

42

Nonfinancial Performance Measures

43

ROI & Residual Income

44

Controllable vs. Noncontrollable Costs

45

Responsibility Centers

46

Transfer Pricing

47

Checking Reasonableness

48

Choosing Costing Methods

49

Common Managerial Accounting Pitfalls

50

Setting Up Multi-Step Problems

51

Constraints & Product Mix

52

Keep or Drop Decisions

53

Make or Buy Decisions

54

Relevant vs. Sunk Costs

55

Special Order Decisions

56

Direct Labor Variances

57

Direct Materials Variances

58

Favorable vs. Unfavorable Variances

59

Fixed Overhead Variances

60

Interpreting Overhead Variances

61

Variable Overhead Variances