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19 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Gross Profit Formula |
Sales-Cost of Goods Sold |
Earned vs. spent |
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Cost of Goods Sold formula |
Units SoldX(variable cost per unit+Fixed cost per unit) |
fixed and variable costs |
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Variable cost per unit |
Direct Materials+Direct Labor+Variable manufacturing overhead/units produced |
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Fixed cost per unit |
Fixed manufacturing overhead/units produced |
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Total variable costs |
variable costs per unitXunits +additional variable selling expenses |
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Total expenses below profit line |
fixed addtl expenses+variable addtl expenses |
additional expenses |
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total expenses below contribution margin line |
fixed manufacturing overhead+fixed additional expenses |
everything but variable |
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ending inventory absorption |
units in endingX (variable +fixed per unit) |
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ending inventory variable |
units in endingX(variable per unit) |
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absorption income statement |
Gross profit Less: Operating Expenses ------------------------------------------------ Operating income (loss) |
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variable costing income statement |
contribution margin Less: Fixed Expenses --------------------------------- Operating income (loss) |
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High low method formula for mixed costs |
y=vx+f v;variable cost per unit f;fixed costs |
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variable cost per unit using high low method |
Change in total costs/change in volume |
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Total fixed costs |
Overhead costs-total variable costs |
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Total predicted overhead costs |
(Variable costs per unitXunits predicted)+fixed costs |
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Regression Analysis formula |
y=vx+f; v; x variable 1 coefficient x; predicted units f;intercept coefficient |
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The _____ the _________ the better the cost equation. |
higher; R-square value |
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In a cost behavior chart __________ and _______________ stay the same regardless of volume |
variable cost per unit; total fixed costs |
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activity overhead rate formula |
estimated indirect activity cost/cost allocation base |
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