Shared Flashcard Set

Details

Costing
Cost Accounting
27
Finance
Not Applicable
11/14/2010

Additional Finance Flashcards

 


 

Cards

Term
Re Order Level
Definition
Max Consumption X Max Re Order Period
Term
Minimum Level
Definition
ROL - (Normal Consumption X Normal RoP)
Term
Maximum Level
Definition
(Re Order Level + Re Order Quantity) - (Min Consumption X Minimum Period)
Term
Danger Level
Definition
Avg Consumption X Max Delivery Period for emergency
Term
Avg Stock Level
Definition
Max Level / Min Level or

Min Level + 0.5 (Re Order Qty)
Term
EOQ
Definition
under root - 2AO/c
Term
Inventory Turnover Ratio
Definition
Raw Material Consumed/Avg Inventory
Term
Replacement Method
Definition
No of Emp Replaced/Avg Emp on Roll X 100
Term
Replacement Method
Definition
No of Emp Replaced/Avg Emp on Roll X 100
Term
Seperation Method
Definition
No of employees left + discharged/ Avg no of employees on roll X 100
Term
Flux Method
Definition
Replaced + Seperated/Avg on ROll X 100
Term
DM Cost Variance
Definition
(SP X SQ) - (AP X AQ)
Term
Direct Material Price Variance
Definition
(SP - AP) X AQ
Term
DM Usage Variance
Definition
(SQ - AQ) X SP
Term
DM Mix Variance
Definition
(Revised SQ - AQ) X SP
Term
DM Yield Variance
Definition
(Expected Output - Actual Output) X SP
Term
DL Cost Variance
Definition
(SH X SR) - (AH X AR)
Term
DL Rate Variance
Definition
(SR - AR) X AH
Term
DL Efficiency Variance
Definition
(Standard Hours - Actual Hours) X SR
Term
DL Mix Variance
Definition
(Revised SH - AH) X SR
Term
DL Yield Variance
Definition
(Actual Output - Expected Output) X Standard Cost
Term
PV Ratio
Definition
Contribution/Sales X 100
Term
BEP (units)
Definition
Fixed Costs/Contribution per unit
Term
BEP (Value)
Definition
FC X Selling Price/unit/Contribution/unit

or

Fixed Cost/PV Ratio
Term
Margin of Safety
Definition
Profit/PV Ratio

or

Total Sales - Sales at BEP
Term
Margin of safety ratio
Definition
Total sales- Sales at BEP/ Total Sales X 100
Term
Profitability
Definition
Contribution/Key Factor
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