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30 Cards in this Set
- Front
- Back
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Predetermined Overhead Rate (POR) |
Estimated Overhead Cost / Estimated Activity Base |
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Overhead Applied |
POR × Actual Amount of the Activity Base for the Period |
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Raw Materials (Direct Materials) Used in Production |
Raw Materials Inventory (Beginning) + Raw Materials Purchases - Raw Materials Inventory (Ending) = Raw Materials Used |
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Total Manufacturing Costs |
Direct Materials + Direct Labor + Manufacturing Overhead = Total Manufacturing Costs |
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Cost of Goods Manufactured |
Work in Process (Beginning) + Total Manufacturing Overhead = Total Costs of Work in Process - Work in Process (Ending) = Cost of Goods Manufactured |
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Unadjusted Cost of Goods Sold |
(Beginning) Finished Goods Inventory + Cost of Goods Manufactured - (Ending) Finished Goods Inventory = Unadjusted Cost of Goods Sold |
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Adjusting Cost of Goods Sold |
COGS - Overapplied Overhead COGS +Underapplied Overhead |
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Weighted Average Equivalent Units of Production (EUP) |
Units Completed and Transverse Out + EUP in Ending WIP Inventory |
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Weighted Average Cost per EUP |
(Costs in Beginning WIP Inventory + Costs Added During the Period) / EUP |
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Contribution Margin per Unit (CMU) |
Sales Price per Unit - Variable Price per Unit |
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Contribution Margin Ratio (CMR) |
CMU / Sales Price per Unit |
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Break-Even Point in Units (BEP Units) (Formula Method) |
Fixed Costs / CMU |
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Break-Even Point in Dollars (BEP $) (Formula Method) |
Fixed Costs / CMR |
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Margin of Safety in Dollars (MS $) |
Total Budgeted (or actual) Sales - Break Even Sales |
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Margin of Safety (MS) |
MS $ / Total Budgeted (or actual) Sales in Dollars |
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Degree of Operating Leverage |
Contribution Margin / Net Operating Income |
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Percentage Change in Net Operating Income |
DOL × Percentage Change in Sales |
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Materials Price Variance |
Actual Quantity (Actual Price - Standard Price) |
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Materials Quantity Variance |
Standard Price ( Actual Quantity - Standard Quantity) |
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Labor Rate Variance |
Actual Hours (Actual Rate - Standard Rate) |
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Labor Efficiency Variance |
Standard Rate (Actual Hours - Standard Hours) |
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Variable Overhead Rate Variance |
Actual Hours ( Actual Rate - Standard Rate) |
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Variable Overhead Efficiency Variance |
Standard Rate (Actual Hours - Standard Hours) |
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Materials Price Variance |
Actual Quantity (Actual Price - Standard Price) |
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Materials Quantity Variance |
Standard Price (Actual Quantity - Standard Quantity) |
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Return on Investment (ROI) |
Net Operating Income / Average Operating Assets |
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Return on Investments (ROI) |
Margin × Turnover |
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Margin (ROI) |
Net Operating Income / Sales |
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Turnover (ROI) |
Sales / Average Operating Assets |
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Residual Income (RI) |
Net Operating Income - (Average Operating Assets × Minimum Required Rate of Return) |
