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Eure ACC 2362

Exam 2

QuestionAnswerSteps
Contribution Margin Sales-Variable Expense
Operating Income Total CM-Fixed Costs 1.Contribution Margin
Units to be sold to acheive target income using Operating Income Operating income=(Price X Units sold)-(Unit variable cost X Units sold)-Fixed cost Unit Variable cost
Units to be sold to acheive target income using break-even (Fixed cost + Target income)/CM per unit 1.Unit Variable Cost
Varibable cost ratio variable cost per unit/selling price per unit Unit Variable Cost
Contributio Margin ratio (unit or total) (CM/sales) 1.Unit variable Cost(if units, 2.Contribution Margin
Break even revenue (total fixed cost+target income)/ cm ratio 1.Contribution Margin, 2.CM ratio
Unit Variable Cost total variable cost/units
Contribution Margin per Unit selling price per unit-unit variable cost 1.Unit variable cost
CM ratio+ VC ratio= 100
Contribution Margin Income Statement (Sales-VC=CM-FC=OI)or(Sales-CGS=GM-Sell-Admin)=OI
Package Unit Contribution Margin [per product] Contribution Margin per unit X Sales mix per unit [per product] 1.Unit variable cost, 2.Contribution Margin per Unit
Package Contribution Margin total all product contribution margin 1.Unit variable cost, 2.Contribution Margin per Unit, 3.Package unit [per product]
Break-Even packages total fixed cost/package contribution margin 1.Unit variable cost, 2.Contribution Margin per Unit, 3.Package unit [per product], 4.Package Contibution Margin
Break-Even units [per product] package BE X sales mix 1.Unit variable cost, 2.Contribution Margin per Unit, 3.Package unit [per product], 4.Package Contibution Margin, 5.Break-Even packages
Sales Mix lowest possible whole number of units sold ratio
Break-Even Sales Dollars Fixed Costs/Contribution Margin Ratio 1.CM, 2.CM ratio
Margin of safety in units unit sales-break even units 1.Unit variable cost, 2.Contribution Margin per Unit, 3.Package unit [per product], 4.Package Contibution Margin, 5.Break-Even packages, 6.Break even units
Margin of Safety in Sales revenue (sales-break even sales)or(MOS units X price) (1.CM, 2.CM ratio) or (1.Unit variable cost, 2.Contribution Margin per Unit, 3.Package unit [per product], 4.Package Contibution Margin, 5.Break-Even packages)
Percent Change in Operating Leverage DOL X % change 1.Contribution margin, 2.Operating Income, 3.DOL
Expected Operating Income Original Operating Income+(% Change in Operating Income X original operating income) 1.Contribution margin, 2.Operating Income
Sales Revenue to achieve a Target Income (Fixed cost + Target income)/CM Ratio 1.Contribution Margin, 2.CM ratio
Break Even Units Total FC/Unit CM 1.Unit Variable Cost, 2.Unit CM
Predetermind Overhead Rate Estimated Annual Overhead/Estimated Annual Avtivity level
Applied Overhead Predetermind Overhead Rate X Actual Activity Level 1.Predetermind Overhead Rate
Overhead Variance Actual overhead- applied overhead 1.Predetermind Overhead Rate,(actual > applied)=under(actual<applied)=over
Adjusted CGS Unadjusted CGS(+under or -over)overhead variance Overhead Variance
Predetermind Departmental Overhead Rate Estimated Departmental Overhead/estimated dempartmental activity level
Target Income Units (Fixed Costs+target Income)/Unit CM
Variable Cost Ratio VC/Price
WIP all uncompleted jobs
FG completed but not sold
CGS completed & sold
Velocity Units/time
Cycle time Time/Units
Activity OH Rate Activity Cost/Total activity
Per Unit Product Cost {(Activity OH rate X product activity)[per activity] Totaled/units}+prime costs 1.Activity OH Rate
Percent Change in Operating Income DOL X % change
Additional Profit w/ CM CM ratio X additional sales
consumption ratio product activity/total driver activities
activity rate estimated activity cost/ total driver activities
activity cost activity rate X product activities
activity unit cost (DM+DL+OH)/units
activity cost based on activities used activity rate X product activities used
Degree of Operating Leverage(DOL) Total Contribution Margin/Operating Income 1.Contribution margin, 2.Operating Income
Created by: ar1356