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;
15 Cards in this Set
- Front
- Back
what is total dollar value of contribution margin under variable costing approach?
|
cm/unit * #units produced not ending inv, or month production
|
|
what type of cost included in absorption product cost?
|
DM, DL, FIXED AND VARIABLE OH
|
|
what types of costs included in contribution product cost?
|
DM, DL, VARIABLE OH
|
|
what is fomular for required sales volume for target profit?
|
|
|
high low method fixed cost calculation example?
|
|
|
definition of R squared, coefficient of determination?
|
|
|
fomular for # of direct material purchased budget
|
pay attn to units of direct material needed for production = budgeted production * material/unit
PAY ATTN TO THE ENDING INV AND BEGINNING INV WHICH IS THE PRODUCTION CONVERTED TO DIRECT MATERIAL * UNIT E.G. IN 1 UNIT=5 LBS. |
|
if there's difference bw actual result and flexible budget revenue result, what is the reason for it?
|
change in selling price/unit cuz the flexible budget variance is based of same output. So the only revenue variance is due to unit selling price
|
|
what is fomular for variable overhead efficiency variance?
|
budgeted variable oh rate * (actual direct labor hr- direct labor hrs ALLOWED) WHICH IS output*rate
when we talk abt efficiency, we think of quantity difference * standard rate |
|
fomular for fixed overhead spending variance
|
difference bw fixed actual oh - fixed budgeted oh
|
|
variable overhead spending variance?
|
actual variable overhead - budgeted variable overhead
which equals to (standard variable oh rate* actual direct labor hrs) and actual variable overhead is actual variable oh rate * actual direct labor hrs |
|
what is the order of financial budget?
|
forecasted income statement -> cash budget -> forecasted balance sheet-->statement of cash flow
|
|
what is production volume variance
|
|
|
how is beta calculated?
|
change in stock price e.g. 3% divided by change in market e.g. 5%, 3/5=0.6 use this not converting to any percentage
|
|
how to calculate pro forma operating income
|
starting from master budget $$contribution margin/budgeted volume, get per unit * actual volume minus fixed costs equal pro forma operating income using flexible budget
|