Cost Accounting Exam 1 Formulas

What is the formula for Costs of Good Sold?

• Beginning Inventory + Purchases in Current Period - Ending Inventory

• Direct Labor+ Direct Costs + Manufacturing Overhead

• Predetermined

  overhead rate x Amount of the allocation base incurred on the job

• Total Cost of Production - Variable Cost per Unit No x No of Units Produced

What is the fixed Cost Formula?

• Variable Costs x Units Produced

• Total Cost of Production - Variable Cost Per x No of Units Produced

• Total Cost/Number of Units

• Total Variable Expenses/Output of the Company

What is this forumla used for Variable Costs+Fixed Costs?

• Total Cost

• Total Output Costs

• Total Manufacturing Costs

Predetermined Overhead Formula

• Overhead Applied = Predetermined Overhead Rate × Actual Activity Level in Allocation Base

• Activity Leaver x Direct Labor

• 
  Estimated Total Units in the Allocation Base / Estimated Total Manufacturing Overhead Costs​

  
  

What is the formula for the variable cost per unit?

• Total variable cost / Number of units produced
• Total variable cost * Number of units produced
• Total cost / Number of units produced
• Total fixed cost / Number of units produced

What is the predetermined overhead rate formula?

• Actual total manufacturing overhead costs / Actual total amount of the allocation base
• Estimated total manufacturing overhead costs * Estimated total amount of the allocation base
• Estimated total manufacturing overhead costs - Estimated total amount of the allocation base
• Estimated total manufacturing overhead costs / Estimated total amount of the allocation base

What is the contribution margin formula?

• Sales revenue - Variable costs
• Fixed costs / Sales revenue
• Variable costs + Fixed costs
• Sales revenue / Variable costs

What is the break-even point formula in dollars?

• Total Fixed Costs * (1 - (Variable Costs per Unit / Selling Price per Unit))
• Total Fixed Costs / (Variable Costs per Unit - Selling Price per Unit)
• Total Fixed Costs + (Variable Costs per Unit / Selling Price per Unit)
• Total Fixed Costs / (1 - (Variable Costs per Unit / Selling Price per Unit))

What is the formula for the contribution margin per unit?

• Fixed cost per unit - Selling price per unit
• Total cost per unit - Variable cost per unit
• Variable cost per unit - Fixed cost per unit
• Selling price per unit - Variable cost per unit

Direct Costs Formula

• Total Direct Costs = Indirect Labor + Indirect Materials + Other Indirect Costs
• Total Direct Costs = Fixed Labor + Fixed Materials + Other Fixed Costs
• Total Direct Costs = Direct Labor + Direct Materials + Other Direct Costs
• Total Direct Costs = Variable Labor + Variable Materials + Other Variable Costs