Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
19 Cards in this Set
- Front
- Back
|
Contribution Margin
|
Revenues-Total Variable Cost
-per unit- Contribution Margin/Total Units -OR- Unit Selling Price-Unit Variable Cost |
|
|
Contribution Margin Ratio
|
Contribution Margin Per Unit/Unit Selling Price
|
|
|
Total Cost
|
Total Fixed Cost-Total Variable Cost
|
|
|
Total Variable Cost
|
Unit Variable Cost x X
|
|
|
Revenue
|
Unit Selling Price x X
|
|
|
Net Income
|
Revenue-Total Cost
|
|
|
Number of units in sales to achieve a target profit
|
(Fixed Cost+Target Profit)/Contribution Margin Per Unit
|
|
|
Break-Even Point
|
(Fixed Cost+0)/Contribution Margin Per Unit
|
|
|
Margin of Safety in Dollars
|
Actual Sales-Breakeven Sales
|
|
|
Margin of safety ratio
|
Margin of safety in dollars/actual sales
|
|
|
Total Sales
|
Expected Unit Sales x Unit Selling Price
|
|
|
Production Budget
|
Expected Unit Sales+Desired Ending FG units=Total required units-beginning FG units=Required production units
|
|
|
Direct Materials Budget
|
Units to Be Produced x Direct Materials per Unit=Total lbs needed for production +Desired Ending DM=Total Materials required-Beginning DM=DM Purchases x Cost Per pound=Total Cost of DM purchases
|
|
|
Direct Labor Budget
|
Units to be produced x Direct labor time per unit=Total required DL hours x direct labor costs=Total Direct Labor Cost
|
|
|
Manufacturing Overhead Budget
|
Variable Costs + Fixed Costs=Total Manufacturing overhead costs
|
|
|
Budgeted Income Statement
|
Sales-COGS=Gross Profit-Selling and Administrative Expenses=Income Before Taxes-Income Tax Expense=Net Income
|
|
|
Tradition predetermined overhead rate
|
Estimated Annual Overhead Costs/Annual operation activity (weight)
|
|
|
Activity Based Overhead Rate
|
Estimated Overhead/Expected Use of Cost Drives
|
|
|
Activity Cost Assignment
|
Expected Use of Drivers x Overhead Rate
|
