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Eure ACC 2362
Exam 2
| Question | Answer | Steps |
|---|---|---|
| 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
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