×

### Let's log you in.

or

Don't have a StudySoup account? Create one here!

×

or

61

2

2

# Acct 226 Exam 2 Study Guide ACCT 226 - 001

USC

Get a free preview of these Notes, just enter your email below.

×
Unlock Preview

This study guide covers what will be on the second exam
COURSE
Introduction to Managerial Accounting
PROF.
Debbie Huguley Brumbaugh (P)
TYPE
Study Guide
PAGES
2
WORDS
CONCEPTS
Accounting, ACCT, acct226, managerialaccounting
KARMA
50 ?

## Popular in Accounting

This 2 page Study Guide was uploaded by Madeline Lacman on Sunday October 16, 2016. The Study Guide belongs to ACCT 226 - 001 at University of South Carolina taught by Debbie Huguley Brumbaugh (P) in Fall 2016. Since its upload, it has received 61 views. For similar materials see Introduction to Managerial Accounting in Accounting at University of South Carolina.

×

## Reviews for Acct 226 Exam 2 Study Guide

×

×

### What is Karma?

#### You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 10/16/16
Acct 226 Exam 2 Study Guide Equations Unit Contribution Margin= selling price per unit – variable expenses per unit Contribution Margin= Sales – variable expenses Contribution Margin Ratio = Contribution Margin/Sales Break-even in units= Fixed Expenses/Unit Contribution Margin Dollar Sales to Break Even= Fixed Expenses/CM Ratio Unit Sales to Attain a Target Profit= Target Profit Amount + Fixed Expenses/Unit Contribution Margin Margin of Safety in Dollars = Total Sales – Break even sales Degree of Operating Leverage = Contribution Margin/Net Operating Income Gross Margin = Sales Revenue – COGS Budgeted Sales Dollars = projected # of units to be sold x selling price Required Production Needs = budgeted sales – beginning inventory + desired ending inventory Materials Needed= qty of materials needed to meet production + qty of materials needed for desired ending inventory – qty of materials in beginning inventory Under Variable Costing Product Costs = DM+DL+VMOH Under Absorption Costing Fixed MOH is treated as a product cost Calculate a per unit average cost and use as a part of the unit product cost Product Cost = DM+DL+VMOH+ Fixed MOH Under Activity Based Costing Product Margin = Sales-DM-DL-OH What to Know:  Look over CVP graph  Variable costing is used with CVP analysis  Absorption costing spreads fixed costs of units produced between units sold and units remaining in inventory o If the number of units produced exceed number of units sold some fixed costs remain on those units remaining in inventory Acct 226 Exam 2 Study Guide o Net operating income under absorption would be greater than net operating income under variable costing o All fixed expenses were not charged to the period  If production in units is taken from the Production Budget o When you get to the materials budget you must convert number of units to quantity of materials needed o If you need to produce 10 units and each unit takes 5 pounds then the quantity of materials needed for production is 50 pounds  How to calculate budgeted cash collections for a period when given % of collections by month  MOH Budget includes both fixed and variable costs o Calculate what variable OH would be for the level of expected activity units o Add to that total variable costs the estimate for fixed overhead o Remember: if asked for “cash disbursements for MOH” exclude any non-cash items like depreciation

×

×

### BOOM! Enjoy Your Free Notes!

×

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

## Why people love StudySoup

Steve Martinelli UC Los Angeles

#### "There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Anthony Lee UC Santa Barbara

#### "I bought an awesome study guide, which helped me get an A in my Math 34B class this quarter!"

Bentley McCaw University of Florida

Forbes

#### "Their 'Elite Notetakers' are making over \$1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!
×

### Refund Policy

#### STUDYSOUP CANCELLATION POLICY

All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email support@studysoup.com

#### STUDYSOUP REFUND POLICY

StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here: support@studysoup.com

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to support@studysoup.com