MGMT+30B+CH+7+NOTES+4+CLASS

MGMT+30B+CH+7+NOTES+4+CLASS - CLASS MGMT 30B CHAPTER 7...

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CLASS MGMT 30B CHAPTER 7 VARIABLE COSTING TYPES OF COSTING UTILIZED FOR VALUING INVENTORY AND COST OF GOODS SOLD BALANCE SHEET INCOME STATEMENT INVENTORY C-O-S BEG INVENTORY $25,000 ADD: MFG'D GOODS AVAILABLE LESS: END INVENTORY C-O-S AND 1 ABSORPTION COSTING VARIABLE COSTING
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ALL MFG COSTS - BOTH FIXED AND VARIABLE - ARE ASSIGNED TO UNITS OF PRODUCT - THE UNITS ARE SAID RAW TO W-I-P MATERIALS MFG INEFFICIENCIES CAN BE HIDDEN FOR SOME TIME AS CURRENT "PERIOD COSTS" ARE ADDED TO INVENTORY AND HELD THERE UNTIL EXPENSED THROUGH C-O-S ABSORPTION COSTING IS REQUIRED FOR EXTERNAL REPORTING AND TAX ACCOUNTING _____________ PRINCIPLE 2 CONTRIBUTION FORMAT STMT W/ C-V P ANALYSIS ABSORPTION COSTING FROM CHAPTER 3 (FULL COST METHOD) TO FULLY ABSORB ALL MFG COSTS TO TO
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SALES .SELLING PRICE LESS: _____________ COSTS .SALES VOLUME = ____________________ .UNIT VAR COSTS LESS: ___________ COSTS .FIXED COSTS NET OPERATING INCOME .MIX OF PROD SOLD B/E POINT SALES = V/E + F/E + PROFITS B/E UNITS = _______________
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This note was uploaded on 01/17/2011 for the course MGMT 30B taught by Professor Tian during the Winter '08 term at UC Irvine.

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MGMT+30B+CH+7+NOTES+4+CLASS - CLASS MGMT 30B CHAPTER 7...

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