Given a balance sheet and income statement with values missing, be able to use the accounting equation to compute the missing values.
Given a balance sheet and income statement, be able to compute changes to owner equity.
Given a balance sheet and income statement, be able to compute and interpret the following
Given account balances, be able to label accounts as an asset, liability, equity, income, or expense account.
Given asset, liability, equity, income, and expense account balances, be able to prepare a balance sheet and income statement.
Given a set of data, be able to calculate a sales forecast for the next 2-3 time periods using
Given a sales forecast, be able to compute a Sales Budget including expected cash collections for the forecast period.
Given a sales forecast, and a desired ending inventory policy, be able to compute the production budget.
Given a production budget, be able to compute a Materials Budget and / or a Direct Labor Budget.
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Given budgeted and actual revenues and expenses, calculate budget variances and be able to comment on the operational health of the plant.
Given a set of factory overhead and direct labor hours, be able to use regression or the high / low method to calculate the fixed and variable factory overhead rate.
Given material purchases, direct labor hours utilized, and overhead rates be able to prepare a job costing budget.
Given material purchases, factory overhead, and conversion factors, be able to prepare a process costing budget.
Be able to use the Cost Estimating Relationship method to determine the cost Cpc of a process for a given parameter.
Given a set of data, be able to use Test 1 or Test 2 to determine if the time data is relatively constant or should be treated as variable data.
Be able to use the power law and sizing (with or without inflation) to estimate the cost of a new facility or piece of equipment.
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Given appropriate data, cost indexes, and factor curves, be able to use the factor method to estimate the cost of a new facility.
Given two data points for a production time on the n and n+k units, be able to estimate the value of k and s learning curve.
Given a learning curve function, estimate the time it will take to produce the kth unit in a production process.
Be able to use the learning curve model to adjust for engineering change orders.
Given an operations sheet, design length, cut length, facing length, and cost data, be able to compute the cost per unit for a given lot size.
Be
able to use the Bill of Materials chart and/or table to estimate a unit cost for
an item.
Be able to use the productive hour
cost method to determine a unit cost for an item.
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Be able to use the learning curve model to adjust for follow-on contracts.
Given optimistic, pessimistic, and most likely estimates of cost data, be able to compute the probability that the project cost will be less than some TC amount.
Given two reference speeds and tool life times, be able to determine the tool life equation.
Given a turning operation, finished diameter, length of cut, feed, and cut speed, be able to determine the machining time for the operation.
Given the machining time, load and unload time, tool change time, tool life equation, machine operation cost, and tool cost, be able to the optimal cut speed and cost per part.
Given a simple ABC cost system with identified cost pools and drivers, be able to allocate a budget according to specified drivers.
Given fixed and variable costs, be able to determine a breakeven point for a project or between two projects.
Given relevant revenue and cost formulas, be able to determine average cost and marginal cost at a specified level of production.
Given relevant cost information and tax tables, be able to compute an after tax cash flow (slide 24 of valuation/inflation)
Given underlying LCC estimates and assumptions, be able to calculate the life cycle cost for a product.