ACCT511

Card Set Information

Author:
Anonymous
ID:
103527
Filename:
ACCT511
Updated:
2011-09-22 01:14:26
Tags:
cost accounting managerial
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Description:
Basic formulas
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  1. Direct materials formula
    BI + Purchases = Material used + Ending inventory
  2. WIP formula
    BI + MFR costs = COGM + EI
  3. Manufacturing costs formula
    Mfr costs = DM + DL + MOH
  4. Finished goods formula
    BI + COGM = COGS + EI
  5. Unadjusted COGS, aka normal COGS
    COGS that haven't been adjusted for over/under applied MOH
  6. Gross margin formula
  7. Gross margin = Revenue - COGS
  8. Operating income formula
    Gross Margin - OpEx = Operating Income
  9. Basic profit formula
    Profit = Revenue - Expenses
  10. Contribution margin formula
    Revenue - Variable Costs = Contribution Margin
  11. Operating income formula
    Contribution Margin - Fixed Costs = Operating income

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