FINAL COMPREHENSIVE Flashcards
(10 cards)
1
Q
3 STEPS OF COGM
A
- MATERIALS USED
- COST OF MANUFACTURING
- COGM
2
Q
MATERIALS USED FORMULA
A
DIRECT MATERIALS PURCHASED + BEG RAW MAT - END RAW MAT
3
Q
COST OF MANUFACTURING FORMULA
A
MAT USED + LAB + MOH
4
Q
COGM FORMULA
A
BEG WIP + MANUF COSTS - END WIP
5
Q
COM/UNIT FORMULA
A
ACTIV COST / QUANT OF BASE
6
Q
4 STEPS OF COST OF END WIP
A
- UNITS COMPLETE
- EQUIVALENT UNITS
- COST PER EQUIV UNIT
- COST OF END WIP
7
Q
UNITS COMPLETE FORMULA
A
BEG WIP + UNITS MADE - END WIP
8
Q
EQUIVALENT UNITS FORMULA
A
UNITS COMPLETE + (END WIP * % PROCESS COMPLETE)
9
Q
COST PER EQUIV UNIT
A
COST INCURRED / EQUIV UNITS
10
Q
COST OF END WIP
A
END WIP * COST PER EQUIV UNIT
