Topic Pointers
Variable Costing 1. About product cost- classification
9. Classification of period and product cost
11. Relationship of variable cost vs. absorption cost
16. About variable costing net income
20. Absorption costing vs. Variable costing
24. Absorption costing vs. Variable costing- net income
28. Absorption costing vs. Variable costing
29. Fixed cost under variable costing
36. Items that are accounted under VC and AC
40. Effect sales to profit under variable costing
Topic Pointers
Cost-Volume-Profit 2. Variable cost in relation to production level
6. About selling more of a product with higher CM
12. About margin of safety
14. Computation- effect of increase in selling price to BEP
17. Fixed cost at break-even point
21. About margin of safety
25. About DOL
29. Which statement in not correct?
− about fixed cost
− decrease in selling price
33. Changes in cvp factors in relation to BEP
37. Effect of operating income beyond BEP
Topic Pointers
Master Budget 3. About budgeting- concept, uses
7. About zero budgeting
10. Budget process
15. About different types of budget
19. Budget process sequence
22. Concept of budget
26. Different types of budget
30. Computation of budgeted sales in units
34. About cash budget
38. Budget process
Topic Pointers
Standard Costing 4. About management by exception
5. About FOH volume variance
8. Responsibility- materials price variance
13. About favorable volume variance
18. About material price variance
23. Concept of standard costing
27. Use of standard unit cost- which type of variance
31. About efficiency var., quantity var., time var., spending var.
35. About standard costing- concept and uses
39. About efficiency var., price var., spending var., rate var.,
41-43 Computation of standard price per unit
Computation of units of materials to produce
Computation of materials price variance
57-59 Computation of FOH cost variance
• Controllable variance: two-way method
• Budget or spending: three-way method
67. Computation of standard cost per unit
44. Computation of absorption costing profit
47. Computation of variable costing net income
56. Computation of COGS under absorption costing
60-62 Computation of operating income under [variable costing & absorption costing]
Computation of ending inventory [variable costing & absorption costing]
47. Computation of net income under VC
45. Computation of fixed cost using operating leverage
48-51 Computation of sales in order to obtain desired profit if:
− Selling price increase
− Fixed cost increase
− Additional expenses
Computation of margin of safety
Computation of operating leverage
63-65 Computation of weighted average unit contribution margin
Computation of BEP- product 1&2
Computation of weighted average CMR
46. Computation of budgeted production
52-55 Computation of budgeted production
Computation of budgeted purchase
Computation of budgeted labor
66. Computation of budgeted cash balance
68. Computation of credit purchases
70. Computation of cash collections from sales
