New User Special Price Expires in

Let's log you in.

Sign in with Facebook


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


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Acct 226 Exam 2 Study Guide

by: Madeline Lacman

Acct 226 Exam 2 Study Guide ACCT 226 - 001

Madeline Lacman

Preview These Notes for FREE

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

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

This study guide covers what will be on the second exam
Introduction to Managerial Accounting
Debbie Huguley Brumbaugh (P)
Study Guide
Accounting, ACCT, acct226, managerialaccounting
50 ?




Popular in Introduction to Managerial Accounting

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


Report this Material


What is Karma?


Karma is the currency of StudySoup.

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


Buy Material

Are you sure you want to buy this material for

50 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

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

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"


"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


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


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:

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

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.