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Production Budgeting and Cost Analysis: Variable and Fixed Cost Behavior and Break-Even Analysis

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Finance - Personal Finance

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charlotte1oxhi Created by 10 mon ago

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Cards in this deck(55)
What is the equation for calculating the units to produce in a production budget?
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How do you calculate the total required units in a production budget?
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What does a production budget show in terms of units to produce?
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What is the equation for calculating materials to purchase in a direct material budget?
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How do you calculate the cost of direct labor in a direct labor budget?
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How do fixed costs behave when the volume changes within a relevant range?
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How do variable costs change with the volume of activity?
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What are mixed costs and how do they behave?
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Which of the following are examples of fixed costs?
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Which of the following are examples of variable costs?
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Which of the following are examples of mixed costs?
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What is the formula for calculating the contribution margin?
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How do you calculate the contribution margin per unit?
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What is the formula for the contribution margin ratio?
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What is the break-even point in terms of sales and costs?
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How do you calculate the break-even point in units?
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How do you calculate the break-even point in dollars?
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What is the structure of a contribution margin income statement?
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How is the margin of safety calculated?
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How do you calculate unit sales at target income?
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How do you calculate dollar sales at target income?
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What are the components of variable costing?
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What are the components of absorption costing?
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What is the use of variable costing in managerial decisions?
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What is the use of absorption costing in financial reporting?
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How are fixed overhead costs treated in absorption vs variable costing?
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How does production level affect net income under absorption vs variable costing?
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What is the cost variance equation and how is it interpreted?
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How is the price variance calculated?
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How is the quantity variance calculated?
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How is the direct materials variance calculated and interpreted?
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How is standard overhead applied calculated?
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How is overhead variance calculated?
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What is the controllable variance and how is it calculated?
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How is volume variance calculated?
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What is a budget in terms of a company's financial planning?
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What are the benefits of budgeting for a company?
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What is a fixed budget and how is it used?
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What is the purpose of flexible budgets before and after a period?
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What is a flexible budget and how does it differ from a fixed budget?
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Who typically uses flexible budgets within an organization?
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How is gross profit calculated?
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How is income under absorption costing calculated?
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How is income under variable costing calculated?
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How do you compute variable overhead variance?
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How is the sales price variance calculated?
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How is the direct labor efficiency/rate variance calculated?
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What is an estimated line of cost behavior on a scatter diagram?
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What is cost-volume-profit analysis and why is it important?
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Which costing method charges all manufacturing costs to its products?
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When evaluating a special order, what should management consider?
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Where are long-term liability balances for the budgeted balance sheet obtained from?
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What is volume variance and how is it defined?
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What is another name for a flexible budget?
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How is overhead variance calculated?
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