MAD 1 Formulas
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Created by:
charlesjamess on April 15, 2012
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MAD 1 Formulas
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7 terms
Terms | Definitions |
|---|---|
 COGs Manufactured: Raw Materials | Opening RM stock + RM purchased = RM available for use - Closing RM stock = RM used in production |
| COGs Manufactured: Manufacturing Costs | Direct Materials + Direct Labour + Manufacturing OH = Total Manufacturing Cost |
| COGs Manufactured: Work In Progress | Opening WIP stock + Total manufacturing cost = Total WIP for period - Closing WIP stock = COG Manufactured |
| COGs Manufactured: Finished Goods | Opening FG stock + Cost of goods manufactured = Cost of goods available for sale - Closing FG costs = COGS |
| Mixed Costs | Y = a + bX Y = total mixed cost a = total fixed cost (vertical intercept) b = variable cost per unit of activity (slope of line) x = the level of activity |
| Contribution Format | Sales Revenue $100,000 - less: variable costs $60,000 Contribution margin = $40,000 - less: fixed costs $30,000 Net Profit = $10,000 |
| Predetermined Rate | Estimated OH costs for period Rate = --------------------------------- Estimated productive capacity for period |
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