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ACCT 2332 > FINAL COMPREHENSIVE > Flashcards

Flashcards in FINAL COMPREHENSIVE Deck (10)
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1

3 STEPS OF COGM

1. MATERIALS USED
2. COST OF MANUFACTURING
3. COGM

2

MATERIALS USED FORMULA

DIRECT MATERIALS PURCHASED + BEG RAW MAT - END RAW MAT

3

COST OF MANUFACTURING FORMULA

MAT USED + LAB + MOH

4

COGM FORMULA

BEG WIP + MANUF COSTS - END WIP

5

COM/UNIT FORMULA

ACTIV COST / QUANT OF BASE

6

4 STEPS OF COST OF END WIP

1. UNITS COMPLETE
2. EQUIVALENT UNITS
3. COST PER EQUIV UNIT
4. COST OF END WIP

7

UNITS COMPLETE FORMULA

BEG WIP + UNITS MADE - END WIP

8

EQUIVALENT UNITS FORMULA

UNITS COMPLETE + (END WIP * % PROCESS COMPLETE)

9

COST PER EQUIV UNIT

COST INCURRED / EQUIV UNITS

10

COST OF END WIP

END WIP * COST PER EQUIV UNIT