FORMULA SHEET ALWAYS REMEMBER Sales Rev COGS Gross Profit Operating Expenses Operating Income Interest Expense Tax Income NET INCOME Chapter 9 1 Sales Budget of Units Sold Sales Price Unit 2 Production Budget a Units Needed for Sales Desired Ending Inventory Total Units Needed Units Planned to Sell Units Wanted on Hand End of Month Units in Beginning Inventory Units for Production 3 Direct Materials Budget a Quantity of DM Needed for Production Desired DM Ending Inventory Total Quantity of DM Needed for Production DM Beginning Inventory Quantity DM to Purchase 4 DL Budget a Units to Be Produced x Direct Labor Hours Unit Total DLH Needed x Cost per Direct Labor Hour Total DL Cost 5 Combined Cash Budget a Beginning Cash Balance Cash Collections Total Cash Available Less Cash Payments Ending Cash Balance Before Financing Borrowing Repayments Interest Payments 6 Operating Expenses a Total Operating Expenses Depreciation Expense Bad Debts Expense 7 COGS Inventory Purchases Purchases of Inventory a COGS Desired Ending Inventory Total Inventory Required Beginning Ending Inventory Chapter 10 actually sold 1 Flexible Budget Total Cost of Output Units x Variable Cost Unit Fixed Costs 2 Sales Volume Variance Static Budget for of units expected to be sold Flex Budget for of units 3 Flexible Budget Variance Flexible Budget of units actually sold Actual Results 4 Direct Materials Price Standard Purchase Price after discount Freight in Receiving Costs 5 DL Price Standard Basic Pay Rates Payroll Taxes Fringe Benefits 6 Standard MOH Rate Estimated MOH Costs Estimated Total Allocation Base 7 Standard Cost of Inputs QS PS 8 Standard Manufacturing Cost Unit a DM Standard Cost DL Standard Cost Variable MOH Standard Cost Standard Variable MOH Cost Unit Fix MOH Standard Cost 9 Total Cost Variance Price Variance Efficiency Variance 10 Price Variance Actual Price Standard Price Actual Quantity 11 Efficiency Variance Actual Quantity Standard Quantity Actual Price 12 Overhead Flex Budget Variance Actual Overhead Cost Flex Budget for Actual Outputs 13 Production Volume Variance Flex Budget Overhead Standard Overhead Cost 14 Total Cost of Direct Materials Direct Labor Used AP AQ Chapter 11 1 Return on Investment ROI Operating Income Total Assets OR Sales Margin Capital Turnover 2 Sales Margin Operating Income Sales 3 Capital Turnover Sales Total Assets 4 Residual Income Operating Income Total Assets x Target Rate of Return OR O I Actual Acceptable Income 5 Economic Value Added Operating Income after Taxes Assets Liabilities WACC Chapter 12 1 Payback Period Amount Invested Expected Annual Net Cash Inflows 2 Average Annual Rate of Return ARR Average Annual Net Cash Inflows Depreciation Expense 3 Net Present Value Present Value Cost of Investment 4 Capital Rationing Profitability Index Present Value of Net Cash Inflow Investments Cost 5 Internal Rate of Return IRR Investments Cost Amount of Each Inflow match up answer and n Cost of Investment to find the i
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