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15 Cards in this Set

  • Front
  • Back
Absorption Costing Income Statement
Sales-
Cost of Goods sold=
Gross Profit-
Selling and Admin Expenses=
Income from Operations
Variable Costing Income Statement
Sales-
Variable Cost of goods Sold=
Manufacturing Margin-
Variable Sales and Admin=
Contribution Margin-
Fixed Costs=
Income from Operations
ROI
income from operations/
invested assets
or
profit margin * investment turnover
investment turnover
sales/invested assets
operating leverage
contribution margin/
income from operations
profit margin factor
income from operations/
sales
DM qty variance
SP (AQ-SQ)
DM price variance
AQ (AP-SP)
DL time variance
SR (AH-SH)
DL rate variance
AH (AR-SR)
controllable variance
actual variable overhead -
budgeted variable overhead for ACTUAL PRODUCTION
volume variance
budgeted fixed overhead at 100% -
standard fixed for actual production achieved
contribution margin ratio
(sales-variable costs)/
sales
quantity factor
(actual qty sold-planned qty sold) * planned unit sales price
price or unit cost factor
(acutal unit price -planned unit price) * actual qty sold