ACCT2320

This chapter provides an in-depth analysis of fixed and flexible budgets. It also talks about standard cost and cost variance. The formulas included are how to find standard overhead rates, favorable or unfavorable costs, and an overhead variance report.

This chapter talks about the process of making a budget in Accounting. We also talk about the many different types of budgets in Accounting and give formulas on how to form those budgets such as the direct labor budget, factory overhead budget, and cash budget. There are also formulas on how to find the cost of goods sold, product cost per unit, and materials to be purchased.

This chapter covers the different types of costs in Accounting. We talk about Fixed and Variable Costs, the break-even point, and the variable cost per unit. There are formulas showing how to do each of these and an explanation after each formula.

This document contains information about Process Costing. There are many formulas in this chapter and explanations of the formula. There are also journal entries in this chapter such as Transfer to Finished Goods, and Work in Process Inventory