JEOPARDY JEOPARDY JEOPARDY JEOPARDY HERE ARE TODAYS CATEGORIES

JEOPARDY JEOPARDY JEOPARDY JEOPARDY

HERE ARE TODAY’S CATEGORIES Theme Timer Lose Cheer Boo Silence

Introductory concepts Theme Timer Lose Cheer Boo Silence

Job costing Theme Timer Lose Cheer Boo Silence

ABC Theme Timer Lose Cheer Boo Silence

C-V-P Theme Timer Lose Cheer Boo Silence

Budgeting Theme Timer Lose Cheer Boo Silence

Performance evaluation Theme Timer Lose Cheer Boo Silence

Introductory concepts Job costing ABC C-V-P Budgeting Performance evaluation $100 $100 $200 $200 $300 $300 $400 $400 $500 $500 FINAL JEOPARDY Theme Timer Lose Cheer Boo Silence

Type of accounting used by internal users GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is managerial accounting? Theme Timer Lose Cheer Boo Silence

IMA GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is the Institute of Management Accountants? Theme Timer Lose Cheer Boo Silence

CMA GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is Certified Management Accountant? Theme Timer Lose Cheer Boo Silence

Costs incurred by manufacturers to produce their products GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What are product costs? Theme Timer Lose Cheer Boo Silence

Sales revenues less cost of goods sold GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is gross profit (gross margin)? Theme Timer Lose Cheer Boo Silence

Typically used by companies that produce large quantities of identical units Start Timer Theme Timer Lose Cheer Boo GO TO ANSWER (question) Silence

What is process costing? Theme Timer Lose Cheer Boo Silence

Lists all of the raw materials needed to manufacture a job GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is a bill of material? Theme Timer Lose Cheer Boo Silence

Total estimated manufacturing overhead / Total estimated allocation base GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is the predetermined manufacturing overhead rate? Theme Timer Lose Cheer Boo Silence

Predetermined MOH rate × Actual amount of allocation base used GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is allocated MOH? Theme Timer Lose Cheer Boo Silence

Used to keep track of all of the costs of a job GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is a job cost record? Theme Timer Lose Cheer Boo Silence

ABC GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is activitybased costing? Theme Timer Lose Cheer Boo Silence

Total estimated activity cost pool / Total estimated activity allocation base GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is the activity cost allocation rate? Theme Timer Lose Cheer Boo Silence

Activity cost allocation rate × Actual amount of activity allocation base used by job GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is MOH allocated to job? Theme Timer Lose Cheer Boo Silence

ABM GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is activitybased management? Theme Timer Lose Cheer Boo Silence

Costs incurred for a particular product (not on a unit or batch basis) GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What are product -level costs? Theme Timer Lose Cheer Boo Silence

Sales revenue less variable expenses GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is contribution margin? Theme Timer Lose Cheer Boo Silence

Point at which operating income is zero GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is the breakeven point? Theme Timer Lose Cheer Boo Silence

Contribution margin / Sales revenue GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is the contribution margin ratio? Theme Timer Lose Cheer Boo Silence

The relative amount of fixed and variable costs that make up total costs GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is operating leverage? Theme Timer Lose Cheer Boo Silence

Breakeven point if FC = $1, 000; Sales price per unit = $500; VC per unit = $300 GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is 5? Theme Timer Lose Cheer Boo Silence

Managers are more likely to be motivated by this type of budget GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is a participative budget? Theme Timer Lose Cheer Boo Silence

Planning, coordination and communication; and benchmarking GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What are the benefits of budgeting? Theme Timer Lose Cheer Boo Silence

Comprehensive planning document for the entire organization GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is a master budget? Theme Timer Lose Cheer Boo Silence

This budget is the starting place for budgeting GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is the sales budget? Theme Timer Lose Cheer Boo Silence

Budgets needed to run the daily operations of the company GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What are the operating budgets? Theme Timer Lose Cheer Boo Silence

A system for evaluating the performance of responsibility center and its manager GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is responsibility accounting? Theme Timer Lose Cheer Boo Silence

Duplication of costs and goal incongruence GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What are possible disadvantages of decentralization? Theme Timer Lose Cheer Boo Silence

Its managers are responsible for both revenues and costs (but not division assets) GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is a profit center? Theme Timer Lose Cheer Boo Silence

Operating income less minimum acceptable income GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is residual income? Theme Timer Lose Cheer Boo Silence

A budget prepared for a different level of volume than that originally anticipated GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is a flexible budget? Theme Timer Lose Cheer Boo Silence

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Weighing costs against benefits to help make decisions GO TO ANSWER (question) Start Timer Theme Timer Lose Cheer Boo Silence

What is a costbenefit analysis? Theme Timer Lose Cheer Boo Silence