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12 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Abnormal Spoilage Formula |
Beg WIP + Started in Production - Units Transferred Out - Normal Spoilage - Ending WIP = Abnormal Spoilage |
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How do you treat normal spoilage even if significant? |
As part of the cost of producing the good |
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How about abnormal spoilage? |
Removed from inventory, coded as period expense and highlighted for further analysis |
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Key Differences between ABC and traditional costing systems |
Back (Definition) |
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Advantages/Disadvantages of ABC |
Back (Definition) |
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What are joint products |
Joint Product Costing Methods Advantages/Disadvantages |
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Service Allocation Cost using Direct Allocation Method |
Back (Definition) |
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CVP Analysis Assumptions and Limitations |
Back (Definition) |
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CVP Margin of safety |
Back (Definition) |
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Operating Leverage |
Degree of effect of fixed costs on operating income |
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Degree of operating leverage formula |
CM/ operating income |
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Types of competitive markets |
Back (Definition) |
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