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Unit IV

Accounting 212

TermComputation
Break-even point in units Fixed Costs/Contribution Margin per unit
Break-even point in dollars Fixed Costs/Contribution Margin Ratio
Contribution margin ratio Contribution margin per unit/Sales price per unit
Contribution margin income statement Sales - Variable Costs = Contribution Margin - Fixed Costs = Net Income
Production budget Budgeted ending inventories (% of next quarter) + Budgeted sales for the quarter = Required units of available production - Budgeted beginning inventories = Units to be produced
Cost Variance (CV) Actual Cost - Standard Cost
Actual Cost (AC) Actual Quantity (AQ) x Actual Price (AP)
Standard Cost (SC) Standard Quantity (SQ) x Standard Price (SP)
Quantity Variance Actual Quantity (AQ) x Standard Price (SP) - Standard Quantity (SQ) x Standard Price (SP)
Price Variance Actual Quantity (AQ) x Actual Price (AP) - Actual Quantity (AQ) x Standard Price (SP)
Labor Cost Variance Actual Direct Labor Cost - Standard Direct Labor Cost
Rate Variance Actual Hours (AH) x Actual Rate (AR) - Actual Hours (AH) x Standard Rate (SR)
Efficiency Variance Actual Hours (AH) x Standard Rate (SR) - Standard Hours (SH) x Standard Rate (SH)
Overhead Cost Variance (OCV) Actual Overhead Incurred (AOI) - Standard Overhead Applied (SOA)
Total Overhead Variance Controllable Overhead - Volume Variance
Controllable Variance Actual Overhead Applied (given) - Applied Total Overhead (from flexible budget)
Payback Period Cost of Investment/Annual Net Cash Flow
Accounting Rate of Return After-tax Net Income / Average Amount Invested
Average Amount Invested Beginning Book Value + Ending Book Value / 2
Net Present Value PV of Net Cash Flows - Amount Invested
Created by: Hugo Silver Hugo Silver on 2013-12-13



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