Accounting 303

Ch 1. Cost Classifications in Accounting
	Lesson 1 – Direct Cost: Definition, Formula & Examples	Take Quiz
	Lesson 2 – What Are Indirect Costs? – Definition & Examples	Take Quiz
	Lesson 3 – Fixed Costs: Definition, Formula & Examples	Take Quiz
	Lesson 4 – Variable Cost: Definition, Formula & Examples	Take Quiz
	Lesson 5 – Mixed Costs: Definition & Examples	Take Quiz
	Lesson 6 – Relevant & Irrelevant Costs: Definitions & Examples	Take Quiz
	Lesson 7 – Average Total Cost: Definition & Formula	Take Quiz
	Lesson 8 – Marginal Cost: Definition, Equation & Formula	Take Quiz
	Lesson 9 – Period Costs in Accounting: Definition & Examples	Take Quiz
	Lesson 10 – Product Costs in Accounting: Definition & Examples	Take Quiz
	Lesson 11 – Prime Cost in Accounting: Definition & Formula	Take Quiz
	Lesson 12 – Unit Cost: Definition, Formula & Calculation	Take Quiz
	Lesson 13 – Conversion Cost in Accounting: Definition & Examples	Take Quiz
	Lesson 14 – Sunk Costs: Definition & Examples	Take Quiz
	Lesson 15 – Inventory Cost: Definition, Methods & Types	Take Quiz

Go to chapter Cost Classifications in Accounting

Practice test: Cost Classifications in Accounting

Ch 2. Costing Methods & Techniques
	Lesson 1 – Purpose & Components of Cost Accounting	Take Quiz
	Lesson 2 – Historical Cost Accounting: Definition, Method & Advantages	Take Quiz
	Lesson 3 – Job-Order Costing System Processes	Take Quiz
	Lesson 4 – Process Costing: Definition & Examples	Take Quiz
	Lesson 5 – Variable Costing: Method, Formula & Advantages	Take Quiz
	Lesson 6 – Activity-Based Costing: Definition, Formula & Examples	Take Quiz
	Lesson 7 – Absorption Costing: Definition, Formula & Example	Take Quiz
	Lesson 8 – Uniform Costing: Definition & Example	Take Quiz
	Lesson 9 – Multiple Costing: Definition & Calculation	Take Quiz
	Lesson 10 – Operation Costing: Definition & Calculation	Take Quiz
	Lesson 11 – Contract Costing: Definition & Example	Take Quiz
	Lesson 12 – Environmental Full Cost Accounting: Definition & Example	Take Quiz

Go to chapter Costing Methods & Techniques

Practice test: Costing Methods & Techniques

Ch 3. Formulas for Cost Accounting
	Lesson 1 – How to Calculate the Break-Even Point – Definition & Formula	Take Quiz
	Lesson 2 – Contribution Margin: Definition & Formula	Take Quiz
	Lesson 3 – Target Net Income: Definition & Formula	Take Quiz
	Lesson 4 – How to Calculate Gross Profit Margin: Definition & Formula	Take Quiz
	Lesson 5 – Variance Formulas for Cost Accounting	Take Quiz
	Lesson 6 – Calculating Beginning Inventory: Formula & Explanation	Take Quiz
	Lesson 7 – Calculate Ending Inventory: Formula & Explanation	Take Quiz

Go to chapter Formulas for Cost Accounting

Practice test: Formulas for Cost Accounting

Ch 4. Standard Costs in Accounting
	Lesson 1 – Standard Costs: Definition & Advantages	Take Quiz
	Lesson 2 – How Companies Set Standard Costs	Take Quiz
	Lesson 3 – Calculating Direct Materials & Direct Labor Variances	Take Quiz
	Lesson 4 – How to Prepare & Format Variance Reports	Take Quiz
	Lesson 5 – Preparing Standard Cost Income Statements	Take Quiz
	Lesson 6 – Balanced Scorecard Approach to Performance Evaluations	Take Quiz
	Lesson 7 – Standard Cost vs. Job Order Cost Overhead & Volume Variance	Take Quiz

Go to chapter Standard Costs in Accounting

Practice test: Standard Costs in Accounting

Ch 5. Job Order Cost System in Accounting
	Lesson 1 – Job Order Cost System: Purpose, Pros & Cons	Take Quiz
	Lesson 2 – Manufacturing Costs of Job Order Cost Systems	Take Quiz
	Lesson 3 – Job Cost Sheet: Purpose & Characteristics	Take Quiz
	Lesson 4 – Work-in-Process Inventory Account: Definition & Example	Take Quiz
	Lesson 5 – Finished Goods Inventory: Calculation & Formula	Take Quiz
	Lesson 6 – Cost of Goods: Definition & Calculation	Take Quiz
	Lesson 7 – Balance Sheet Accounts in Job Order Costing	Take Quiz
	Lesson 8 – Job Order Cost System for Service Companies	Take Quiz
	Lesson 9 – Under- or Over-Applied Manufacturing Overhead	Take Quiz

Go to chapter Job Order Cost System in Accounting

Practice test: Job Order Cost System in Accounting

Ch 6. Process Cost System in Accounting
	Lesson 1 – Processing Expenses with the Process Cost System	Take Quiz
	Lesson 2 – Cost of Goods Sold Journal Entries	Take Quiz
	Lesson 3 – Drivers of Manufacturing Overhead Costs	Take Quiz
	Lesson 4 – Equivalent Units & the Weighted-Average Method Formula	Take Quiz
	Lesson 5 – FIFO Inventory Method of Finding Equivalent Units	Take Quiz
	Lesson 6 – Preparing a Production Cost Report	Take Quiz
	Lesson 7 – Analyzing a Production Cost Report	Take Quiz

Go to chapter Process Cost System in Accounting

Practice test: Process Cost System in Accounting

Ch 7. Activity-Based Costing Overview
	Lesson 1 – The Seven Steps of Activity-Based Costing	Take Quiz
	Lesson 2 – Identifying Activity-Based Cost Pools & Drivers	Take Quiz
	Lesson 3 – Allocating Overhead in Activity-Based Costing Systems	Take Quiz
	Lesson 4 – Activity Levels in an Activity-Based Costing System	Take Quiz
	Lesson 5 – Benefits & Limitations of Activity-Based Costing	Take Quiz
	Lesson 6 – Activity-Based Management (ABM): Definition & Examples	Take Quiz
	Lesson 7 – Activity-Based Costing & Service Industries	Take Quiz
	Lesson 8 – Lean Manufacturing & the Theory of Constraints	Take Quiz

Go to chapter Activity-Based Costing Overview

Practice test: Activity-Based Costing Overview

Ch 8. Product & Service Costing
	Lesson 1 – Factors Affecting the Decision to Outsource	Take Quiz
	Lesson 2 – Product & Cost Curves: Definitions & Use in Production Possibility Curves	Take Quiz
	Lesson 3 – Identifying Relevant Costs in Accepting an Order	Take Quiz
	Lesson 4 – Impact of Relevant Costs on Make-or-Buy Decisions	Take Quiz
	Lesson 5 – Relevant Costs to Selling or Processing Materials Further	Take Quiz
	Lesson 6 – Relevant Costs to Repair, Retain or Replace Equipment	Take Quiz
	Lesson 7 – Relevant Costs in Eliminating a Product or Segment	Take Quiz
	Lesson 8 – Flow of Costs without Journal Entries	Take Quiz
	Lesson 9 – Short-Run Costs vs. Long-Run Costs in Economics	Take Quiz
	Lesson 10 – Differential Cost in Accounting: Definition, Analysis & Formula	Take Quiz
	Lesson 11 – Cost of Quality: Definition & Examples	Take Quiz
	Lesson 12 – Cost Accounting for Waste: Methods & Importance	Take Quiz

Go to chapter Product & Service Costing

Practice test: Product & Service Costing

Ch 9. Budgetary Process
	Lesson 1 – Master Budget in Accounting: Definition, Components & Example	Take Quiz
	Lesson 2 – What Is Operating Budget? – Definition & Examples	Take Quiz
	Lesson 3 – Sales Budget: Definition & Examples	Take Quiz
	Lesson 4 – Production Budget: Preparation & Examples	Take Quiz
	Lesson 5 – Preparing a Direct Materials Budget	Take Quiz
	Lesson 6 – Direct Labor Budget: Definition, Example & Formula	Take Quiz
	Lesson 7 – Manufacturing Overhead Budget: Definition, Preparation & Example	Take Quiz
	Lesson 8 – Preparing a Selling & Administrative Expense Budget	Take Quiz
	Lesson 9 – What Is Capital Budgeting? – Techniques, Analysis & Examples	Take Quiz
	Lesson 10 – Major Factors Influencing the Budgeting Process	Take Quiz
	Lesson 11 – Preparing a Budgeted Income Statement	Take Quiz
	Lesson 12 – Capital Expenditure Budget: Definition & Preparation	Take Quiz
	Lesson 13 – Preparing & Formatting a Budgeted Balance Sheet	Take Quiz
	Lesson 14 – Required Assignments Reminder

Go to chapter Budgetary Process

Practice test: Budgetary Process

Ch 10. Cost Behavior Analysis
	Lesson 1 – Identifying Fixed Costs & Variable Costs for Producers	Take Quiz
	Lesson 2 – How to Analyze Mixed Costs	Take Quiz
	Lesson 3 – Creating Contribution Margin Income Statements	Take Quiz
	Lesson 4 – Cost-Volume-Profit Analysis: Definition & Examples	Take Quiz
	Lesson 5 – How to Select a Cost Structure for CVP	Take Quiz
	Lesson 6 – Target-Profit & Break-Even Analysis	Take Quiz

Go to chapter Cost Behavior Analysis

Practice test: Cost Behavior Analysis

Ch 10. Cost Behavior Analysis
	Lesson 1 – Identifying Fixed Costs & Variable Costs for Producers	Take Quiz
	Lesson 2 – How to Analyze Mixed Costs	Take Quiz
	Lesson 3 – Creating Contribution Margin Income Statements	Take Quiz
	Lesson 4 – Cost-Volume-Profit Analysis: Definition & Examples	Take Quiz
	Lesson 5 – How to Select a Cost Structure for CVP	Take Quiz
	Lesson 6 – Target-Profit & Break-Even Analysis	Take Quiz

Go to chapter Cost Behavior Analysis

Practice test: Cost Behavior Analysis

Ch 11. Cost-Volume-Profit Analysis Overview
	Lesson 1 – Significance of the Relevant Range to CVP Relationships	Take Quiz
	Lesson 2 – Cost-Volume-Profit Analysis & Income Statements	Take Quiz
	Lesson 3 – Break-Even Analysis: Definition & Example	Take Quiz
	Lesson 4 – Margin of Safety in Accounting: Definition & Formula	Take Quiz
	Lesson 5 – Computing the Sales Mix with Limited Resources	Take Quiz
	Lesson 6 – Impact of Cost Structure on Net Income	Take Quiz
	Lesson 7 – Operating Leverage: Definition, Calculation & Examples	Take Quiz
	Lesson 8 – Incremental Analysis: Definition & Examples	Take Quiz

Go to chapter Cost-Volume-Profit Analysis Overview

Practice test: Cost-Volume-Profit Analysis Overview

Ch 12. Cost Estimation
	Lesson 1 – What is Project Cost Management? – Definition & Importance	Take Quiz
	Lesson 2 – Project Cost Management: Planning & Estimation	Take Quiz
	Lesson 3 – Project Cost Management Techniques	Take Quiz
	Lesson 4 – Variance Analysis Model in Accounting	Take Quiz
	Lesson 5 – High-Low Method Accounting: Formula & Examples	Take Quiz
	Lesson 6 – How to Estimate Costs Using the Scatter Graph Method	Take Quiz
	Lesson 7 – Using Regression Analysis in Business	Take Quiz

Go to chapter Cost Estimation

Practice test: Cost Estimation

Ch 13. Service Department & Joint Cost Allocation
	Lesson 1 – Cost Allocation: Definition, Terms & Examples	Take Quiz
	Lesson 2 – Direct Method of Cost Allocation: Process, Pros & Cons	Take Quiz
	Lesson 3 – Step-Down Method of Cost Allocation	Take Quiz
	Lesson 4 – Reciprocal Distribution Method of Cost Allocation	Take Quiz
	Lesson 5 – Cost Plus Pricing: Definition, Method, Formula & Examples	Take Quiz
	Lesson 6 – Cost-Benefit Analysis: Payback & Accounting Rate of Return	Take Quiz
	Lesson 7 – Cost Classifications on Goods & Inventory Statements	Take Quiz

Go to chapter Service Department & Joint Cost Allocation

Practice test: Service Department & Joint Cost Allocation

Ch 14. Cost Accounting for Decision Making
	Lesson 1 – The Impact of Cost Accounting on an Organization’s Mission	Take Quiz
	Lesson 2 – Using Accounting Concepts to Make Business Decisions	Take Quiz
	Lesson 3 – How to Determine Costs & Make Decisions	Take Quiz
	Lesson 4 – Cost Accounting Practices for Pricing Decisions	Take Quiz
	Lesson 5 – Managerial Decision Making: Absorption vs. Variable Costing	Take Quiz
	Lesson 6 – Differential Cost in Managerial Decision Making	Take Quiz
	Lesson 7 – Decision Making for Managers: Certainty, Risk & Uncertainty	Take Quiz
	Lesson 8 – Cost Accounting Case Study: Decision Making at Southwest Airlines	Take Quiz

Go to chapter Cost Accounting for Decision Making

Practice test: Cost Accounting for Decision Making

Ch 15. Ethics in Cost Accounting
	Lesson 1 – The Importance of Ethics in Accounting	Take Quiz
	Lesson 2 – Cost Accounting Standards Board: Function & Background	Take Quiz
	Lesson 3 – Consistency in Estimating, Accumulating, and Reporting Costs	Take Quiz
	Lesson 4 – Consistency in Allocating Costs Incurred for the Same Purpose	Take Quiz
	Lesson 5 – The Sarbanes-Oxley Act: Definition and Explanation	Take Quiz
	Lesson 6 – Internal Controls in Accounting: Definition, Types & Examples	Take Quiz
	Lesson 7 – Ethics of Value Chain Management Techniques	Take Quiz

Go to chapter Ethics in Cost Accounting

Practice test: Ethics in Cost Accounting

Ch 16. Modern Trends in Accounting
	Lesson 1 – Current Trends in Accounting	Take Quiz
	Lesson 2 – Current Trends in Managerial Accounting	Take Quiz
	Lesson 3 – Current Trends in Cost Accounting	Take Quiz

Go to chapter Modern Trends in Accounting

Practice test: Modern Trends in Accounting

Ch 17. Required Assignments for Accounting 303
	Lesson 1 – Accounting 303 – Assignment 1

Go to chapter Required Assignments for Accounting 303

Ch 18. Studying for Accounting 303
	Flashcards – Budgetary Processes Flashcards
	Flashcards – Cost Accounting for Decision Making Flashcards
	Flashcards – Cost Behavior Analysis Flashcards
	Flashcards – Cost Classifications in Accounting Flashcards
	Flashcards – Cost Estimation Flashcards
	Flashcards – Cost System Types in Accounting Flashcards
	Flashcards – Costing Methods & Techniques Flashcards
	Flashcards – Ethics & Trends in Accounting Flashcards
	Flashcards – Intro to Activity-Based Costing Flashcards
	Flashcards – Intro to Cost-Volume-Profit Analysis Flashcards
	Flashcards – Product & Service Costing Flashcards
	Flashcards – Service Department & Joint Cost Allocation Flashcards
	Flashcards – Standard Costs & Formulas for Accounting Flashcards
	Lesson 14 – Accounting 303: Cost Accounting Formulas

Go to chapter Studying for Accounting 303