Errata Revised/new text is red.. Deleted text is struck out.. In some cases, additional text, before and after the change, may be included to clarity the context or specific location..
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Revised/new text is red Deleted text is struck out In some cases, additional text, before and after the
change, may be included to clarity the context or specific location Italicized text is FYI
Wiley CMAexcel Learning System Exam Review 2019
Self-Study Guide for Part 1
– Cost and Variance Measures
(pages 257-258)
During the year, fixed overhead will be incurred; this corresponds to segment CD, which must be plotted at the actual level of activity Fixed overhead is budgeted and corresponds with line E The difference between the amount incurred (CD) and the amount budgeted (E) is the fixed budget spending variance (DE), which is simply the difference between the amount spent and the fixed budget
Questions and Answers
Question 1A-ES07 (page 574)
Answer H: (third paragraph)
By contrast, if the stated rate is higher than the current market interest rate…
Questions and Answers
Question 1A-ES06 (page 572)
In answer J, both instances of 0.7 should be 0.07
Questions and Answers
Question 1B5-CQ02
(page 620)
The correct answer is: c 1,500 units
(page 90)
(a) Revenue is calculated as (20% x ($5,000,000 transaction price - $1,500,000 cost of the elevators)) + $1,500,000
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Wiley CMAexcel Learning System Exam Review 2019
Self-Study Guide for Part 2
Materials
Question 2C-ES02 (page 560)
The following should be added to Answer A underneath the table:
Breakeven for Capital Intensive: $2,940,000 ÷ $14.00 = 210,000 units The $2,940,000 is calculated as $2,440,000 incremental fixed manufacturing costs + $500,000 incremental selling expenses Breakeven for Labor Intensive:
$1,820,000 ÷ $10.40 = 175,000 units The $1,820,000 is calculated as $1,320,000 incremental fixed manufacturing costs + $500,000 incremental selling expenses