C250 Cost and Managerial Accounting| 21Questions with 100 % correct Answers | Verified | updated

Conversion Costs Calc - DL + MOH (converts DM to finished product) Period Costs Calc - Selling Expenses + Administrative Expenses Conversion Costs Calc - DL + MOH Prime Cost Calc - DM + DL Mixed Cost Equation - Y = a + bX Y= total mixed Costs a= total fixed costs b= variable costs per unit X= level of activity Product Costs Calc - DM + DL + MOH High-low method calc - Variable cost- change in cost / change in activity Fixed cost- total cost - variable cost element (either highest or lowest element) Total cost- fixed cost + variable cost(quantity) Least-squares regression calc - Regression line = a + bX a- total fixed cost b- variable cost per unit of activity Traditional Income Statement Layout - Sales - Cost of good sold = Gross Margin - Selling & Admin Cost = Net Operating Income/Loss Cost of Goods Sold Calc - beginning merch