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8 Cards in this Set
- Front
- Back
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Predetermined Overhead Rate Formula |
estimated total manufacturing overhead cost ________________________________________________ estimated total amount of allocation base (COMPUTED BEFORE PERIOD BEGINS) |
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Contribution Margin Ratio |
Sales-Variable Expenses _________________________ Sales |
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Applying overhead to a job |
Predetermined OH rate
x Allocation base incurred by job
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Closing UNDERAPPLIED overhead to Cost of Goods Sold |
Debit Cost of Goods Sold Credit Manufacturing Overhead |
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Closing OVERAPPLIED overhead to Cost of Goods Sold |
Debit Manufacturing Overhead Credit Cost of Goods Sold |
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Material Quantity Variance |
(Actual Quantity-Standard Quantity) x Standard Price |
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Equivalent units, weighted average method |
Equivalent units = units transferred + equivalent units in ending work in process inventory |
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Cost per equivalent unit, weighted average method |
Cost of beginning work in process + cost added _____________________________________________ Equivalent units |
