100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
BUS 215 Midterm || Passed!!! $6.99   Add to cart

Exam (elaborations)

BUS 215 Midterm || Passed!!!

 9 views  0 purchase
  • Course
  • BUS 215
  • Institution
  • BUS 215

Profit correct answers (Sales - Variable Expenses) - Fixed Expenses or (CM ratio x Sales) - Fixed Expenses Predetermined Overhead Rate correct answers estimated total manufacturing overhead / estimated total amount of the allocation base contribution margin per unit correct answers = Selli...

[Show more]

Preview 1 out of 2  pages

  • August 3, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUS 215
  • BUS 215
avatar-seller
ProPerfomer
BUS 215 Midterm || Passed!!!
Profit correct answers (Sales - Variable Expenses) - Fixed Expenses
or
(CM ratio x Sales) - Fixed Expenses

Predetermined Overhead Rate correct answers estimated total manufacturing overhead /
estimated total amount of the allocation base

contribution margin per unit correct answers = Selling Price per unit - Variable expense per
unit

CM ratio correct answers Contribution Margin / Sales

Variable Expense Ratio correct answers (Variable Expenses/Sales) or (1-CM ratio)

Change in CM correct answers CM ratio x change in sales

Change in Profit correct answers CM ratio x change in sales - change in fixed expenses

Break-Even Point (finding quantity) correct answers $0 = Unit CM x Quantity - Fixed
expense

Break even point in units correct answers fixed costs / contribution margin per unit

Break even point in sales correct answers fixed costs / contribution margin ratio

Dollar Sales to Obtain Target Profit correct answers (Target Profit + Fixed Expenses) / CM
Ratio

Unit sales to attain target profit correct answers (Target Profit + Fixed Expenses) / Unit CM

Margin of Safety in Dollars correct answers Total Sales - Break Even Sales

Margin of Safety in percentage correct answers margin of safety in dollars / total sales

Degree of operating leverage correct answers Contribution Margin / Net Operating Income

Percentage change in net operating income correct answers degree of operating leverage x
percentage change in sales

Raw material used in production correct answers debit: work in process
credit: Raw materials

Work completed correct answers debit: finished goods
credit: work in process

application of overhead cost: correct answers debit: work in process
credit: manufactoring overhead

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ProPerfomer. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $6.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73918 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$6.99
  • (0)
  Add to cart