Check yourself..if you answer Yes positively 90%+ question ⁉️ then you can score good scale in Exam in this topic subtopic..scale 50+ in US CMA Part 1 & Part 2.
Q1.I know opportunity costs
Q2.I Know Difference between fixed costs ,Variable cost,super variable cost & semi variable cost.
Q3.I know difference between Absorption costing & Variable Costing
Q4. I can compute Applied overhead & Also overapplied underapplied overhead
Q5. I'm familiar with terms Cost centre, Cost Driver,Cost Pool,Activity Cost,Cost Object
Q6. Know difference between Joint product & By Product
Q7.I can calculate variable cost per unit by high low method
Q8. I'm familiar with terms Relevent Range,short run & Long run period, Auxiliary support system,Normal & Abnormal Loss,Responsibility centre,Inventoriable costs, Production and Support service centre,Backflush costing,JIT MRP MRP 2 KAIZAN TQM THROUGHPUT,etc
Q9.I can compute Job order cost sheet
Q10.I Know Difference between Normal loss & Abnormal Loss
Q11I can compute prime costs, conversion cost, Production costs,COGS, OPERATING Expenses
Q12.I know Cost Driver for Power & fuels,Repair Maint, Factory Rent, Material Inspection charges, Depreciation on Delivery Van, Insurance premium on Factory Premises, Etc
Q13.I can calculate operating income as per Absorption & variable costing
Q14 I know Journal entry for Raw material transfer to production,indirect wages for factory,production completed,over.under applied overhead treatment etc
Q15. I'm familiar with treatment of sale of by product,effect on Joint cost
Q16.I can compile simultaneous equations related to Reciprocal method of overhead Allocation
Q17 I'm familiar with upstream and downstream costs in Life cycle costing
Q18 I can compute contribution per unit,BEP Sales,Expected or Target sales qtty,Margin of Safety,etc
Q19. I can reconcile profit as per Absorption costing & Variable Costing
Q20 I'm familiar with terms..Cost tracing, Allocation of overhead,Apportionment & Reapportionment of overhead, Absorption of costs
Students, please respond me immediately..just ✍️ Q. No....Yes or No....on 9773464206
This efforts help you to boost confidence & competent..Further i will guide you,iff limitations.
Best wishes 🍀
Regards from Prof Mahaley Head Gmsisuccess
