WGU - C250 - Cost & Managerial Accounting Formulas| Questions with 100 % correct Answers | Verified

Predetermined Overhead Rate - estimated overhead costs / estimated activity base Overhead Applied - Predetermined Overhead Rate * Actual Amount of Activity Base for period Direct Materials Used in Production - beginning raw materials inventory + purchases of raw materials - ending raw materials inventory Total Manufacturing Costs - direct materials + direct labor + manufacturing overhead Cost of Goods Manufactured - beginning WIP + total manufacturing costs - ending WIP Unadjusted cost of goods sold - beginning finished goods inventory + cost of goods manufactured - ending finished goods inventory Adjusting Cost of Goods Sold - COGS - Overapplied Overhead, COGS + Underapplied Overhead Weighted Average Equivalent Units of Production (EUP) - Units completed and transferred out + Equivalent units of production in ending WIP inventory Weight Average Cost per Equivalent Units of Production (EUP) - (Costs in beginning WIP inventory + Costs added during the period) / Equivalent units of production contribution margin per unit - sales price per unit - variable cost per unit Contribution Margin Ratio - contribution margin per unit / sales price per unit