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Accounting I Formula

Formulas for accounting I

Working Capital Current Assets - Current Liabilities
Current Ratio Current Assets / Current Liabilities
Quick Ratio Quick Assets / Current Liabilities
Quick Assets Cash + Marketable Securities + Accounts Receivable
Predetermined Overhead Rate Estimated Total Factory Overhead Costs / Estimated Activity Base
Applied Manufacturing Overhead Cost Predetermined Factory Overhead Rate x Actual Activity Base for the Period
Over(Under) Applied Manufacturing Overhead Cost Underapplied Overhead: Actual > Applied Overapplied Overhead: Actual < Applied
High-Low Method Used to divide a mixed cost into its’ fixed and variable component for purposes of analysis. When cost-volume-profit analysis (defined below) is performed, all costs must be categorized as fixed or variable.
Contribution Margin Sales – Variable Costs
Contribution Margin Ratio ((Sales – Variable Costs) / Sales)
Breakeven Point Fixed Costs / Contribution Margin per Unit
Target Profit ((Fixed Costs + Target Profit) / Contribution Margin per Unit)
Margin Of Safety Sales – Break-Even Sales
Margin Of Safety Ratio Sales – Break-Even Sales)/ Sales
Sales Budget Unit Sales x Sales Price Per Unit = Total Sales
Production Budget Unit Sales + Desired Ending Inventory = Subtotal – Estimated Beginning Inventory = Total Units to be Produced
Direct Materials Purchase Budget Total Units to Produce x Direct Materials Required per Finished Good Unit = Units of Direct Materials Needed + Desired Ending Inventory = subtotal – Estimated Beginning Inventory = Units of Direct Materials to be Purchased x Direct Materials Cost per Unit
Direct Labor Budget Total Units to be Produced x Direct Labor Hours per Finished Goods Unit = Total Hours of Direct Labor Needed x Direct Labor Cost per Unit = Total Cost of Direct Labor
Cash Budget Beginning Cash Balance + Cash Receipts = Cash Available – Cash Payments = Ending Cash Balance
Direct Materials Price Variance Actual Quantity (Actual Price – Standard Price)
Direct Materials Quantity Variance Standard Price (Actual Quantity – Standard Quantity)
Total Direct Materials Variance Direct Materials Cost Variance + Direct Materials Quantity Variance
Direct Labor Rate Variance Actual Hours (Actual Rate – Standard Rate)
Direct Labor Time Variance Standard Rate (Actual Hours – Standard Hours)
Created by: katiehensley42 on 2012-04-30

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