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Trey Leatherman
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Decks in this class (19)
Week 1 (Cost Behavior)
Term used to describe how costs c...,
What are the 3 classifications of...,
Variable costs ________ change in...
20
cards
Week 1 formulas (Cost Behavior)
Variable cost per unit high low m...,
Total fixed cost equation 2,
Contribution income statement 3
3
cards
Week 2 (Cost-Volume-Profit)
One of the most powerful tools th...,
What are the 4 basic elements of ...,
Represents the amount of revenue ...
12
cards
Week 2 formulas (Cost-Volume-Profit)
Total contribution margin equation 1,
Contribution margin per unit equa...,
Contribution margin ratio equation 3
10
cards
Week 3 (Relevant costing)
Consists of choosing among altern...,
Are tactical decisions short or l...,
Bc tactical decisions tend to be ...
30
cards
Week 3 formulas (Relevant costing)
Make or buy decision rule equation 1,
Keep or drop decision rule equati...,
Special order decision rule equat...
7
cards
Week 5 (Cost concepts)
Are the costs incurred in the pro...,
What are the 3 manufacturing costs 2,
Are raw materials that become an ...
28
cards
Week 5 (Cost concepts) formulas
Direct material used equation 1,
Cost of goods manufactured equati...,
Cost of goods sold equation 3
5
cards
Week 6 (Job order costing)
Used to apply overhead to product...,
1 direct labor hours 2,
Represents the amount of overhead...
24
cards
Week 6 (Job order costing) formulas
Pdr equation 1,
Applied overhead equation 2,
Cost of goods manufactured equati...
4
cards
Week 7 (Process Costing)
What are the 2 traditional types ...,
Represents the system used by a c...,
Is used when a single product is ...
10
cards
Week 7 (Process Costing) formula
Unit costs weighted average equat...,
Cost of goods completed and trans...,
Cost of ending work in process we...
6
cards
Week 10 (Absorption & variable costing)
The 2 general approaches for valu...,
Product costs of absorption costi...,
Period costs of absorption costing 3
10
cards
Week 11 (Standard costing)
Are benchmarks or norms for measu...,
2 types of standards 2,
Specify how much should be paid f...
25
cards
Week 11 Standard costing formulas
Dm price variance equation 1,
Dm quantity variance equation 2,
Dm sq equation 3
11
cards
Week 12 Budgeting
A comprehensive financial plan fo...,
2 phases a budget assist on 2,
Developing objectives for acquisi...
18
cards
Week 12 Budgeting formulas
Production budget 1,
Direct materials purchases budget 2,
Direct labor budget 3
6
cards
Week 13 Capital Budgeting
Is the process of planning and ev...,
1 equipment purchase decision 2,
1 net present value npv method 3
28
cards
Week 13 Capita Budgeting formulas
Net present value npv equation 1,
Internal rate of return factor eq...,
Payback period equation 3
7
cards
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Accounting 2
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