Midterm Formulas Flashcards
1
Q
Operating income
A
Sales -Expenses
2
Q
COGS Manufacturing company
A
BI + COGM - EI
3
Q
COGS Merchandising company
A
BI + P - EI
4
Q
Gross Margin
A
Sales - COGS
5
Q
Profit
A
Sales - Expenses
6
Q
COGM
A
DM + DL + MOH
7
Q
Prime Cost
A
DM + DL
8
Q
Conversion Cost
A
DL + MOH
9
Q
Product Cost
A
COGM
10
Q
Beginning Inventory $
A
Number of units BI x COGM last year
11
Q
Beginning Inventory units
A
BI + Production - sales
12
Q
High Low Method
A
(Y max - Y min) / (X max - X min)
13
Q
Predetermined Overhead Rate
A
MOH / DL hours or machine hours
14
Q
POR at beginning of period
A
Estimated MOH / estimated allocation basae
15
Q
POR during period
A
POR x actual units allocation base
