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Formulas for ACC200 Final Exam

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by: Katie Ludwig

Formulas for ACC200 Final Exam ACC 200

Marketplace > North Carolina State University > Accounting > ACC 200 > Formulas for ACC200 Final Exam
Katie Ludwig
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Formulas you need to know for ACC200 final.
Introduction to Managerial Accounting
Study Guide
50 ?




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"Loved these! I'm a horrible notetaker so I'll be your #1 fan in this class"
Gayle Douglas

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This 2 page Study Guide was uploaded by Katie Ludwig on Sunday January 24, 2016. The Study Guide belongs to ACC 200 at North Carolina State University taught by McKittrick in Fall 2015. Since its upload, it has received 28 views. For similar materials see Introduction to Managerial Accounting in Accounting at North Carolina State University.


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Loved these! I'm a horrible notetaker so I'll be your #1 fan in this class

-Gayle Douglas


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Date Created: 01/24/16
Patterson Ludwig ACC200 Final Exam Formulas Financial Acc. Ch. 1-4:  Gross profit= sales - CoGS  Gross margin= revenue - CoGS  Net income/loss= revenues – expenses  Assets= liabilities + owner’s equity  Equity= contributed capital + RE  Retained earnings= revenues – expenses – dividends  Retained earnings end balance= RE beg balance +/- net income/loss – dividends  Net increase/decrease in cash= cash flows from operating +/- from investing +/- from financing  Net income= income before taxes – income tax amt  Avg tax rate= tax expense/taxable income  Assets, expenses, & dividends: increase w debit, decrease w credit  Liabilities, equity, & revenue: decrease w debit, increase w credit  Income statement  Statement of retained earnings  Balance sheet Managerial Acc. Ch. 1-4:  CoGM= beg RM + RM purchased=cost of RM available – end RM=RM used + DL + MOH + beg WIP – end WIP  CoGS= beg FG + CoGM=goods available for sale – end FG  OH rate= MOH/Cost driver  POHR= estimated OH/estimated units of cost driver  Applied OH= POHR*actual units of cost driver Managerial Acc. Ch. 5-8:  Cost eqn= y=a+bx (a=y int; b=slope)  High-low slope= Change in costs/change in volume  Net income= Contribution margin – FC  CM per unit= sales – VC/units sold  CM ratio= CM $/sales $  Break-even units= FC/CM per unit  Break-even sales= FC/CM ratio  Target profit before tax units= FC + target profit/CM per unit  Target profit before tax $= FC + target profit/CM ratio  Before-tax profit= after-tax profit / (1-tax rate)  Sales volume for after-tax profit= FC + before-tax profit/CM per unit  Operating leverage: CM/net income  Drop prod line if: avoidable FC > CM lost  NPV= PV cash inflows – PV cash outflows  Profitability index= PV cash flows/initial investment  Depreciation tax shield= depreciation expense*tax rate  Payback pd= original investment/net annual $ inflows  After-tax cost= before-tax cost*(1-tax rate)  After-tax benefit= before tax benefit*(1-tax rate) Managerial Acc. Ch. 9-11:  Required prod= budgeted sales +/- increase/decrease in FG  RM to purchase= required prod*RM needed per unit=RM needed for current prod + desired end RM - beg RM  Sales price variance= actual vol*(actual sales price – expected sales price)  DM price variance= actual quantity*(actual price – standard price)  DL rate variance= actual hrs.*(actual rate – standard rate)  Usage variance= standard price*(actual quantity – standard quantity) o DL usage (efficiency) variance= standard rate*(actual hrs. – standard hrs.) o DM usage variance= standard price*(actual quantity-standard quantity allowed)  VOH spending variance= actual VOH – (actual hrs.*standard variable rate)  VOH efficiency variance= standard variable rate*(actual hrs.- standard hrs.)  FOH volume variance= budgeted FOH – applied FOH  Applied FOH= POHR*# of standard hours allowed  ROI= margin*turnover; net operating income/average operating assets o Margin= net operating income/sales o Turnover= sales/average operating assets  Residual income= net operating income – (average operating assets*minimum required rate of return)


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