To Memorize

Question 1

Job Cost Sheet

Answer 1

Top Column: Job 1, Job 2 … Total
BWIP
DM
DL
AMOH
Total
Status Level 1
Level 2

Question 2

Status

Answer 2

Completed: COGM
Sold: COGS
Not Sold: EFG
Incomplete: EWIP

Question 3

Adjusted COGS

Answer 3

Unadjusted - over-applied MOH
Unadjusted + under-applied MOH

Question 4

AMOH

Answer 4

PMOH * Actual Amount Used

Question 5

PMOH

Answer 5

Estimated OH / Estimated Activity

Question 6

Process Costing

Answer 6

Question 7

Income Statement

Answer 7

Net Sales
COGS
BFG
COGM
COGAS
EFG
Less over-applied or plus under-applied
Adjusted COGS
Gross Profit
Less selling and admin
Net income

Question 8

CVP Statement

Answer 8

Sales
-VC
=CM
-FC
=OI
-T
=NI

Question 9

Operating Leverage

Answer 9

Total CM / OI before tax

Question 10

CM per Unit

Answer 10

Total CM / units

Question 11

Break-Even (units)

Answer 11

FC / CMu
or
FC + Target OI / CMu

Question 12

Break-Even ($)

Answer 12

BEu x Selling Price
FC / CM ratio
FC + Target OI / CM ratio

Question 13

CM Ratio

Answer 13

Total CM / Sales $
CMu / Selling Price

Question 14

TSU

Answer 14

( FC + NI before tax ) / CMu

Question 15

TS$

Answer 15

FC + NIBT / CMR

Question 16

Target Sales $

Answer 16

TSU x Selling Price

Question 17

Target Sales (units)

Answer 17

(FC + NI before tax) / CMu

Question 18

COGM

Answer 18

DM Used
DL
MOH
=Total Manufacturing Cost
BWIP
-EWIP
=COGM

BFG
COGM
COGAS
-EFG
=COGS

Question 19

Target NI (or OI) after tax

Answer 19

Total FC + (Target NI / 1 - Tax Rate)

Question 20

BE% of Max Capacity

Answer 20

BE Units / Max Capacity

Question 21

Margin of Safety Units

Answer 21

units - BEU

Question 22

Margin of Safety Ratio

Answer 22

(sales - BE$) / sales

Question 23

Margin of Safety $

Answer 23

sales - BE$

Question 24

WABEU

Answer 24

FC / (CMU1 x SM1) + (CMU2 x SM2)

Question 25

WABE$

Answer 25

FC / (CMR1 x SM1) + (CMR2 x SM2)