{"id":837,"date":"2015-12-27T14:54:43","date_gmt":"2015-12-27T14:54:43","guid":{"rendered":"https:\/\/courses.candelalearning.com\/managacct2x1xmaster\/?post_type=chapter&#038;p=837"},"modified":"2015-12-27T15:29:51","modified_gmt":"2015-12-27T15:29:51","slug":"chapter-6-study-plan","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-managacct\/chapter\/chapter-6-study-plan\/","title":{"raw":"Chapter 6 Study Plan","rendered":"Chapter 6 Study Plan"},"content":{"raw":"<h2>Study Plan: Variable Costing &amp; Performance Reporting<\/h2>\r\n<strong>Knowledge Targets<\/strong>\r\n\r\nI can define the following terms as they relate to our unit:\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td style=\"text-align: center\"><strong>Absorption costing\r\n<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Variable costing\r\n<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Fixed Costs<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Variable Costs\r\n<\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td style=\"text-align: center\"><strong>Segment<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Segment Margin<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Segmented Income Statement\r\n<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Contribution Margin Income Statement\r\n<\/strong><\/td>\r\n<\/tr>\r\n<tr>\r\n<td style=\"text-align: center\"><strong>Traceable Cost<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Common cost<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Cost per unit<\/strong><\/td>\r\n<td style=\"text-align: center\"><strong>Net Income<\/strong><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n&nbsp;\r\n\r\n<strong>Reasoning Targets<\/strong>\r\n<ul>\r\n\t<li>I can identify costs as <strong>fixed<\/strong> or <strong>variable<\/strong>.<\/li>\r\n\t<li>I can explain the difference between <strong>variable costing<\/strong> and <strong>absorption costing<\/strong>.<\/li>\r\n\t<li>I can analyze and explain the difference in <strong>net income<\/strong> under <strong>variable costing<\/strong> and <strong>absorption costing<\/strong>.<\/li>\r\n\t<li>I can determine the profitability of each <strong>segment<\/strong> in a <strong>segmented income statement<\/strong>.<\/li>\r\n<\/ul>\r\n&nbsp;\r\n\r\n<strong>Skill Targets<\/strong>\r\n<ul>\r\n\t<li>I can calculate <strong>cost per unit <\/strong>under <strong>variable costing.<\/strong><\/li>\r\n\t<li>I can calculate <strong>cost per unit<\/strong> under <strong>absorption costing<\/strong>.<\/li>\r\n\t<li>I can prepare income statements using <strong>variable costing<\/strong> and <strong>absorption costing<\/strong>.<\/li>\r\n\t<li>I can prepare a<strong> segmented income statement.<\/strong><\/li>\r\n<\/ul>\r\nClick <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1430\/2016\/03\/04031456\/Variable-Costing.pdf\">Variable Costing<\/a> for a printable copy.","rendered":"<h2>Study Plan: Variable Costing &amp; Performance Reporting<\/h2>\n<p><strong>Knowledge Targets<\/strong><\/p>\n<p>I can define the following terms as they relate to our unit:<\/p>\n<table>\n<tbody>\n<tr>\n<td style=\"text-align: center\"><strong>Absorption costing<br \/>\n<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Variable costing<br \/>\n<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Fixed Costs<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Variable Costs<br \/>\n<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center\"><strong>Segment<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Segment Margin<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Segmented Income Statement<br \/>\n<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Contribution Margin Income Statement<br \/>\n<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center\"><strong>Traceable Cost<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Common cost<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Cost per unit<\/strong><\/td>\n<td style=\"text-align: center\"><strong>Net Income<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><strong>Reasoning Targets<\/strong><\/p>\n<ul>\n<li>I can identify costs as <strong>fixed<\/strong> or <strong>variable<\/strong>.<\/li>\n<li>I can explain the difference between <strong>variable costing<\/strong> and <strong>absorption costing<\/strong>.<\/li>\n<li>I can analyze and explain the difference in <strong>net income<\/strong> under <strong>variable costing<\/strong> and <strong>absorption costing<\/strong>.<\/li>\n<li>I can determine the profitability of each <strong>segment<\/strong> in a <strong>segmented income statement<\/strong>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Skill Targets<\/strong><\/p>\n<ul>\n<li>I can calculate <strong>cost per unit <\/strong>under <strong>variable costing.<\/strong><\/li>\n<li>I can calculate <strong>cost per unit<\/strong> under <strong>absorption costing<\/strong>.<\/li>\n<li>I can prepare income statements using <strong>variable costing<\/strong> and <strong>absorption costing<\/strong>.<\/li>\n<li>I can prepare a<strong> segmented income statement.<\/strong><\/li>\n<\/ul>\n<p>Click <a href=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images-archive-read-only\/wp-content\/uploads\/sites\/1430\/2016\/03\/04031456\/Variable-Costing.pdf\">Variable Costing<\/a> for a printable copy.<\/p>\n","protected":false},"author":1195,"menu_order":1,"template":"","meta":{"_candela_citation":"[]","CANDELA_OUTCOMES_GUID":"","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-837","chapter","type-chapter","status-publish","hentry"],"part":352,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/pressbooks\/v2\/chapters\/837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/wp\/v2\/users\/1195"}],"version-history":[{"count":3,"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/pressbooks\/v2\/chapters\/837\/revisions"}],"predecessor-version":[{"id":896,"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/pressbooks\/v2\/chapters\/837\/revisions\/896"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/pressbooks\/v2\/parts\/352"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/pressbooks\/v2\/chapters\/837\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/wp\/v2\/media?parent=837"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/pressbooks\/v2\/chapter-type?post=837"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/wp\/v2\/contributor?post=837"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/suny-managacct\/wp-json\/wp\/v2\/license?post=837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}