Cost & Management Accounting Formulas Flashcards
1
Q
FIFO (First In, First Out
A
Earliest costs issued first
2
Q
AVCO (Weighted Average Cost)
A
Total Cost of Inventory / Total Units Available
3
Q
Contribution per Unit Selling Price per Unit
A
Selling Price per Unit - Variable Cost per Unit
4
Q
Total Contribution
A
Total Sales - Total Variable Costs
5
Q
Break-even Point (units)
A
Fixed Costs / Contribution per Unit
6
Q
Break-even Point (sales revenue)
A
Fixed Costs / Contribution per Unit) × Selling Price per Unit
7
Q
Margin of Safety (units)
A
Actual Sales - Break-even Sales
8
Q
Margin of Safety (%)
A
(Margin of Safety in Units / Actual Sales) × 100
9
Q
Target Profit Sales (units)
A
(Fixed Costs + Target Profit) / Contribution per Unit
10
Q
Contribution to Sales Ratio (C/S Ratio)
A
Contribution / Sales × 100
11
Q
profit
A
no.of units x contribution per unit- TFC
