What is the formula for calculating net operating income from sales, variable costs, and fixed expenses? Sales - Variable Costs = CM - Fixed Expenses = Net Operating Income Sales - Direct Costs = CM - Variable Expenses = Net Operating Income Sales - Fixed Costs = CM - Variable Expenses = Net Operating Income Sales - Total Costs = CM - Fixed Expenses = Net Operating Income

Sales - Variable Costs = CM - Fixed Expenses = Net Operating Income

Managerial vs. Financial Accounting: Cost Classification, Margin Analysis, and Break-even

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Finance - Personal Finance

georgepetenjk Created by 10 mon ago

Cards in this deck(26)

Which type of accounting is characterized by a focus on external persons making decisions, a historical perspective, and adherence to GAAP?

Which type of accounting is primarily used by managers for planning and control, emphasizes future relevance, and does not require adherence to GAAP?

What are costs that include direct material, direct labor, and manufacturing costs, also known as manufacturing costs?

What are costs that include selling and administrative expenses, also known as non-manufacturing costs?

Which type of cost remains the same in total when the activity level changes but decreases per unit as the activity level increases?

Which type of cost changes in total with the activity level but remains constant per unit over a wide range of activity?

What is the equation for calculating the contribution margin?

How is the contribution margin ratio calculated?

What is the formula for calculating net operating income from sales, variable costs, and fixed expenses?

How do you calculate the change in contribution margin given a change in sales?

How is the break-even point in units sold calculated?

What is the formula for calculating the break-even point in total sales dollars?

How do you calculate the break-even point in sales dollars?

What is the formula for calculating the pre-determined overhead rate?

Which costs are considered relevant costs in decision-making?

What is the key consideration when evaluating special orders?

What principle states that a dollar today is worth more than a dollar in the future?

What is the net present value (NPV) decision rule for accepting or rejecting a project?

What is the primary purpose of master budgeting?

What are the key components to calculate when preparing a master budget?

What is the difference between a planning (static) budget and a flexible budget?

How is the price variance calculated in variance analysis?

How is the quantity variance calculated in variance analysis?

How do you determine if a variance is favorable or unfavorable?

What is the balanced scorecard approach in performance measurement?

What is the role of corporate social responsibility (CSR) as it relates to managers?

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Managerial vs. Financial Accounting: Cost Classification, Margin Analysis, and Break-even

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