ORIE 350 Final Exam Review Sheet

ORIE 350 Final Exam Review Sheet - Kristin Chen OR&IE 350...

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Kristin Chen OR&IE 350 Final Exam Review Sheet Process Costing— FIFO EUOP EU to finish beg. WIP +united started & completed +EU in ending WIP EUOP COST/EU = cost added EUOP Cost of Goods Transferred Cost in beg. WIP +EU to finish beg. WIP x COST/EU +united started & completed CGT Process Costing—Weighted Average EUOP = units transferred + EU in ending WIP COST/EU = cost in beg. WIP + cost added EUOP CGT = COST/EU x # of units transferred Process Costing: do separately for Direct Materials, Conversion costs, & Transferred-In Costs Cost reconciliation Cost in beg. WIP + cost added = CGT + cost in ending WIP Learning Curve Use regression to extrapolate Power regression: Y = aX b Linear regression: Y = ax + b Is learning taking place or are costs constant? Does learning apply to all costs or just a fraction? Labor only? Total costs? Indication of learning is that costs decline Use all of the data Breakeven Analysis S BE = FC *if SP <
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