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30 minutes. If you have not clicked the Submit For Grade button by then, you will be automatically
exited from the exam. In the final exam environment, the Windows clipboard is disabled, and so you still
will not be able to copy exam questions or answers to or from other applications.

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This helps prevent connection timeouts that might occur with certain Internet Service Providers, and
also minimizes lost answers in the event of connection problems. If your internet connection does
break, when you reconnect you will normally be able to get back into your final exam without any
trouble. Remember, though, that the exam timer continues to run while students are disconnected, so
students should try to re-login as quickly as possible. The Help Desk cannot grant any student additional
time on the exam.

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á iou will only be able to enter your online Final Exam one time
á ‘lick the "Save Answers" button often
á If you lose your Internet connection during your Final Exam, logon again and try to access your
Final Exam. If you are unable to enter the Final Exam, contact first the help desk and then your
instructor.
á iou will always be able to see the time remaining in the Final Exam at the top right of the page

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á |ake sure you click the "Save Answers" button before advancing to the next page (we also
suggest clicking on save answers while you are working)
á ‘omplete all of the pages before submitting your Final Exam for instructor review
á Do NOT use your browser's 'Back' and 'Forward' buttons during the Final Exam
á Please use the provided links for navigation

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á When you are finished with the Final Exam, click on the "Submit for Grade" button
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á There are 10 randomly selected multiple-choice questions each worth 5 points for a total of 50
points.
 á There are 3 randomly selected multiple-choice questions each worth 30 points for a total of 90
points.
á There are 3 randomly selected Essay questions each worth 25 points for a total of 75 points.
á There is 1 randomly selected Essay question worth 35 points.
á The final exam covers all course T‘Os and Weeks 1-7
á The final exam contains 3 pages, which can be completed in any order.

á This means that not everyone will have the same questions. Even if you do have some of the
same questions, they may not be in the same order. These questions are distributed amongst
the T‘Os. The entire exam is worth 250 points.
á On the essay questions your answers should be succinct, fully address each part of the question,
and demonstrate your knowledge and understanding in a concise but complete answer. Show
your work! Some students opt to work on the essay questions first, due to their higher point
value and length of time needed to adequately address each question. But this is entirely your
choice.
á + 0((* * 

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borrowed material (even a short phrase) is being placed in quotation marks with the source
(URL, author/date/page #) immediately following the end of the passage. ‘hanging a few words
in a passage does NOT constitute putting it in your own words and proper citation is still
required. Borrowed material should NOT dominate a student͛s work, but should only be used
sparingly to support your own thoughts, ideas, and examples. Heavy usage of borrowed
material (even if properly cited) can jeopardize the points for that question. Uncited material
can jeopardize a passing grade on the exam. As a part of our commitment to academic integrity,
your work may be submitted to turnitin.com, an online plagiarism checking service. So please be
VERi mindful of proper citation. 

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á T‘O A
÷ Understand cost terms such as: |anufacturing costs/Product costs/Inventoriable ‘osts,
direct materials, direct labor, manufacturing overhead, prime costs, conversion costs,
non-manufacturing costs/period costs, selling and administrative costs.
÷ Understand inventory accounts ʹ raw materials inventory, work in process inventory
and finished goods inventory.
÷ Be able to prepare a schedule of cost of goods manufactured and cost of goods sold.
÷ Understand flow of costs through the various inventory accounts.
á T‘O B
÷ Understand fixed, variable and mixed costs.
÷ Understand ‘VP and related computations for BE, target NOI
÷ ‘ontribution margin, contribution margin per unit
÷ Break-even point.
á T‘O ‘
÷ Flexible budgets
÷ Flexible budget computations variable vs fixed costs
÷ Flexible budget performance report
÷ Static budgets, master budget.
á T‘O D
 ÷ Relevant costs, sunk costs, opportunity costs.
÷ |ake vs. buy decisions. Add or drop a segment.
÷ Special orders. Sell or process further.
÷ Segment reporting and allocation of fixed costs in the decision making process.
á T‘O E
÷ Variable vs absorption costing.
÷ Understand impact of changes in inventory levels and sales will have on net income
under variable and absorption costing.
÷ ‘ontribution format vs traditional format income statements
á T‘O F
÷ âob order processing
÷ Process costing
÷ Predetermined overhead
÷ Weighted average vs FIFO methods
÷ Underapplied and overapplied overhead
÷ Equivalent units.
á T‘O G
÷ ‘apital budgeting.
÷ Net present value.
÷ Working capital in NPV computations.
÷ Profitability index.
÷ Time value of money.
÷ Internal rate of return method.
÷ Payback method.
÷ Simple rate of return method.

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your convenience.

Given a trial balance of a manufacturing entity, prepare a schedule of cost of goods

A
manufactured and an income statement.

Given various costs (for products or segments), a target net income, and a what-if analysis,
B
compute the sales figures in dollars and units.

Given a manufacturing, merchandising and service company, prepare the components of a

static budget and flexible budget for each type of entity, addressing the similarities and
differences. In addition to understanding the budget preparation process for static and flexible
‘
budgeting, discuss the different approaches and their effect on motivation and performance
from a managerial perspective (management-imposed versus participative for static, static
versus flexible).
 Given segment information, discuss the allocation of fixed costs and identify and use the
D appropriate relevant costs to make decisions related to special orders, add/drop a segment,
sell or process further, make or buy.

Given appropriate financial data, prepare income statements using direct/variable costing, full
E
cost/absorption costing, and activity based costing including a discussion of the uses of each.

Given appropriate financial data, compare and contrast job order and process costing systems
F (1) to value ending inventory and costs of goods sold for a manufacturing company and/or (2)
to determine the cost of services rendered in a service organization.

Given a project or choice of projects, compare and contrast the capital budgeting methods to
G evaluate the project and provide your recommendation. In addition, be able to conduct an
analysis of a lease or purchase situation and propose appropriate action.

Finally, if you have any questions for me, please post them to our Q&A, or email me. Good luck on the
exam!