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Management Accounting > Random > Flashcards

Random Flashcards

0
Q

How to work out contribution margin to then work out break even point?

A

Sales -VC = ? / units =CM
BE = FC / CM
Also remember WACM weighted average

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1
Q

What is standard costs?

A

The budgeted cost, based on estimates of the cost of material, labour, and overhead used to make a product

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2
Q

What is the safety margin?

A

The difference between the budgeted sales revenue and and break even sales revenue

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Management Accounting (6 decks)

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