Test Android StudyStack App
Please help StudyStack get a grant! Vote here.
or...
Reset Password Free Sign Up


incorrect cards (0)
correct cards (0)
remaining cards (0)
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the Correct box, the DOWN ARROW key to move the card to the Incorrect box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

Correct box contains:
Time elapsed:
Retries:
restart all cards



Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Accounting I Formula

Formulas for accounting I

TermFormula
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



Copyright ©2001-2014  StudyStack LLC   All rights reserved.