Last night I was studying Managerial Accounting in preparation for my final this morning (which takes place in 2.5 hours). Ultimately, you reach a point where you aren’t learning anymore and you have to sleep. I was actually experiencing vertigo I think and only lying down made it go away…I guess that proves that accounting is a mental pathogen.
At any rate, I feel like I understand relevant costs better, as well as ABC costing, but still don’t really have any assurance that I will do super well on this test. I mean, I feel calm, but there’s just a sense in this class that no matter how much you prepare it will never be enough–welcome to Grad School!
One theme that I’ve noticed for sure though: in all of these accounting problems the key is to find the information that leads to a Contribution Margin calculation. You always need to find Direct Materials (DM), Direct Labor (DL), Variable Manufacturing Overhead (VMOH), and usually Variable SG&A (WSGA) which is the selling expense basically.
On a more positive note, church was wonderful yesterday. I taught a Sunday School class and didn’t feel the slightest bit nervous. It felt great. At least I’ll always have church and it’s finally the end of this third trimester in school.