ACCT511

Direct materials formula

BI + Purchases = Material used + Ending inventory
WIP formula

BI + MFR costs = COGM + EI
Manufacturing costs formula

Mfr costs = DM + DL + MOH
Finished goods formula

BI + COGM = COGS + EI
Unadjusted COGS, aka normal COGS

COGS that haven't been adjusted for over/under applied MOH
Gross margin formula
Gross margin = Revenue - COGS
Operating income formula

Gross Margin - OpEx = Operating Income
Basic profit formula

Profit = Revenue - Expenses
Contribution margin formula

Revenue - Variable Costs = Contribution Margin
Operating income formula

Contribution Margin - Fixed Costs = Operating income

Author

Anonymous

103527

Card Set

ACCT511

Description

Basic formulas

Updated

2011-09-22T05:14:26Z