Exam 1- formula review

Prime Cost

• MOH-DL

• DL+MOH

• DM-DL

• DM+DL

Direct Materials Used + Direct Labor + Applied Manufacturing Overhead =

• Total Manufacturing Costs

• Total Current Manufacturing Costs

• Direct Materials Used

• Total Eggs in a Basket

Conversion Cost

• DL-MOH

• DL+MOH

• DM-DL

• DM+DL

Predetermined Overhead Rate

• Actual Total MOH Cost / Actual Total Cost Driver

• Actual Total MOH Cost x Actual Total Cost Driver

• Estimated Total MOH Cost / Estimated Total Cost Driver

• Estimated Total MOH Cost x Estimated Total Cost Driver

Beg. Raw Materials Inv. + Purchases - End. Raw Materials Inv.

• Direct Materials Used

• Activity Rate

• Total Manufacturing Costs

• Prime Costs

Applied Manufacturing Overhead

• Predetermined overhead rate / Estimated Cost Driver

• Predetermined overhead rate x Actual Cost Driver

• Actual MOH x Actual Cost Driver

• Actual MOH / Actual Cost Driver

Activity Rate

• Total Activity Cost /

  Total Cost Driver

• Total Activity Cost x

  Total Cost Driver

• Market Price x

  Estimated Cost Driver

Target Cost

• Market Price x Target Profit

• Market Price / Target Profit

• Market Price + Target Profit

• Market Price - Target Profit

Total Manufacturing Costs - End. Work in Process Inv. + Beg. Work in Process Inv.

• Cost of Goods Sold

• Target Cost

• Cost of Goods Manufactured