WGU Managerial Accounting Formulas – Ultimate Study Guide Complete With Solutions

WGU Managerial Accounting Formulas – Ultimate Study
Guide Complete With Solutions

Assets Right Ans - Liabilities + Owner's Equity

Net Income Right Ans - Revenues(total sales) - Expenses(total cost)

Cost of Good Sold (Manufacturers) Right Ans - Cost of Beginning
Inventory+Cost of purchases-Cost of ending inventory

Cost of Good Sold (Retailer's) Right Ans - Cost of Beginning Inventory+Cost
of purchases-cost of ending inventory

Contribution Margin Right Ans - Total Sales-Total Variable Cost

Contribution Margin Per Unit Right Ans - Sales Price-Variable Cost Per Unit

Contribution Margin Ratio Right Ans - Total Contribution Margin/Total
Sales OR
Contribution Margin Per Unit/Sales Price Per Unit

Cost-Volume Profit Analysis Right Ans - Net Income+=(Sales price-variable
cost per unit)(volume)-fixed cost

Total Cost Right Ans - (Variable Cost Per Unit x volume)+fixed cost

(CVP) Variable Cost Per Unit Right Ans - is the cost of producing a single
unit

(CVP) Net income Right Ans - (Sales price x volume)-total cost

Simplified CVP formula Right Ans - Net Income=(contribution margin x
volume)-fixed cost

Break Even volume Right Ans - Fixed costs/sales-variable cost per unit

Price Variance Right Ans - (Standard price-Actual Price) x Actual Quantity