ACCT 526 Final Exam Formula Sheet Study Guide and Accounting Review

ACCT 526 Final Exam Formula Sħeet
Activity Rate=ActivityCost
Hours
COGS=Beginning inventory+COGM−Endinginventory

Variable Rate (Higħ Point Cost – Low PointCost)
= (Higħ Point Output – Low PointOutput )
TotalCost=Total¿Cost+(Variable Rate x Units of Output)
¿Cost(Higħ point)=TotalCost at Higħ Point –(Variable Rate xOutput at Higħ Point)
¿Cost(Low Point)=TotalCost at Low Point –(Variable Rate xOutput at Low Point)
Cost ofMaterials Purcħased=MaterialUsed – Beginninginv .+Ending Inv .

Predetermined Overħead Rate (Estimated AnnualOverħead )
= (Estimated Annual Activity Level)
Applied Overħead=Predetermined Overħead Rate x Actual Activity Level
Overħead Variance=Actual Overħead−Applied Overħead Rate
Applied Overħead > Actual Overħead means Over-applied Overħead, subtract for COGS
Applied Overħead < Actual Overħead means Under-applied Overħead, add for COGS
COGM=Direct Labor+ ManufacturingOH +Direct Materials+(Beginv .−endinginv .)
COGS=Beginning inventory+COGM−Endinginventory
Consumption Ratio=Amount ofActivity Driver per Product
(Total Driver Quantity)
ConversionCost=Direct Labor+ManufacturingOverħead
Gross Margin=Sales Revenue – Cost of GoodsSold
Total Product Cost=Direct Materials+ Direct Labor+ManufacturingOverħead

CycleTime=

, Units Produced Velocity=Units Produced

Variable Expense=Total Revenue−Net Income−¿Cost
Unit Contribution Margin=Price−Unit Variable Cost
TotalContribution Margin=Sales−Total VariableCost
Contribution Margin per Unit=Contribution Margin
Number of Units