management accounting Flashcards
standard full cost
( total fixed costs/ normal production) + variable cost per unit
straight line depreciation
(purchase price - scrap value)/ number of periods
reducing balance
1- ( scrap value/purchase price) 1/number of periods
sum of year’s digit
( purchase price - scarp value) x fraction
contribution margin per unit
sales price - variable cost per unit
break even sales level
total fixed costs/ contribution margin per unit
full cost price
Variable cost per unit + (total fixed cost/ normal production)
sales volume result
Quantity sold x (sales price - full cost price)
production volume variance
(actual production - normal production) x (total fixed costs/ normal production)
profit under absorption costing
sales volume result + production volume variance
total contribution margin
quantity sold x (sales price- variable cost per unit)
Profit under direct costing
total contribution margin - total fixed costs
sales volume variance
(actual quantity sold - budgeted quantity sold) x ( sales price- variable costs per unit)
sales price variance
(actual sales price - budgeted sales price) x actual quantity sold
efficiency variance
(standards quantity used - actual quantity used) x standard price
