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Lecture 2

ACCT 1220 Lecture 2: ACCT*2230 Final Exam Notes

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Department
Accounting
Course
ACCT 1220
Professor
Adeel Mahmood
Semester
Fall

Description
ACCT*2230 Chapter 2 Product Cost Flow Prime Cost = DM + DL ; Conversion Cost = DL + OH Chapter 3 High Low Method 1) Variable Cost/Unit = Difference in Cost / Difference In Quantity 2) Pick either highest or lowest cost/quantity. (Ex cost, quantity = 2000$ and 40 q) 3) use Y = 2000 - (VC per Unit x 40) 4) Number given is the “a” value. VC/Unit is the “b” value. 5) Sub into y = a + bX. Fixed Cost = Total Cost - Total Variable Cost Chapter 4 CM per Unit = Unit Price - VC per Unit CM Ratio = Unit Price - VC per Unit Unit Price Break Even Point in Units = Fixed Expenses / CM per Unit Break-Even Point in Sales = Fixed Expenses / CM Ratio Margin of Safety = Total Sales - Break Even Sales Chapter 5 POHR = Estimated Total MOH Cost Estimated total units in allocation
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