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COST OF GOODS MANUFACTURED SCHEDULE
Direct Materials:
Raw Materials Inventory _______
Add: Purchases of raw materials _______
Raw Materials Available for Use _______
Deduct: Raw Materials Inventory _______
Raw Materials ________
Direct Labor ________
Manufacturing Overhead:
Rent on Facilities ________
Insurance ________
Indirect Labor ________
Utilities ________
Maintenance, factory ________
Depreciation, factory ________
Total Overhead Costs ________
Total Manufacturing Costs ________
Work in process inventory ________
Deduct: Work in process inventory ________
Cost of Goods Manufactured ________
COST OF GOODS SOLD
Beginning Finished Goods Inventory ________
Add: Cost of Goods Manufactured ________
Cost of Goods Available for Sale ________
Deduct: Finished Goods Inventory, ________
Cost of Goods Sold ________
INCOME STATEMENT
Sales ________
Less: Cost of Goods Sold _______
Gross Margin ________
Less: Administrative Expenses _______
Less: Selling Expenses _______
Net Operating Income ________
*******************************************************************************************************
JOINT PRODUCT COSTING
Units Price Total
Product A (# of Units) x Unit Price = $$$
Product B
Total
Revenue, if processed further
Less:
Additional Opportunity Costs ($$$)
Total Cost of Processing
Net Disadvantage of Processing
_______________________________________
Alternative Method:
Revenue if processed further $$$$
Revenue if Sold As Is -($$$)
Incremental Revenue
Incremental Cost of Processing -($$$)
Incremental Disadvantage $$$$
MAKE/BUY DECISION
Make Buy (Seller Offering Goods)
Direct Materials
Direct Labor
Variable Overhead (% x #)
Total Cost to Make
Cost To Buy
Cost Saving
******************************************************************************************************
FLEXIBLE BUDGETING
Original Budget Actual Costs
Direct Materials
Direct Labor
Variable Overhead
Fixed Overhead
Total
(Note: Divide Units by each of the above to get Unit Price)
Cost Formula: Total Cost = Variable Cost + Fixed Cost
(SP x SQ) (AQ x SP) (AQ x AP) (2-3)
Original Budget Flexed Budget Actual
(Units) (Units) Cost Variance
Item (Always Given) (Always Given)
(Price divided by Units = Unit Price)
(Note: Subtract Flexed Budget # from Actual # to get Variance)
CONTRIBUTION MARGIN INCOME STATEMENT
Sales (Unit Price x Units Sold) ____________
Variable Costs:
Manufacturing (Unit Cost x Units Sold) _________
Selling and Administrative
(Unit Cost x Units Sold) ________ ____________
Contribution Margin ____________
Fixed Costs
Manufacturing ________
Selling and Administrative ________ ____________
Operating Income ____________
(TRADITIONAL)
Sales __________
Cost of Goods Sold
Variable: ________
Fixed ________ __________
Gross Profit __________
Selling and Administrative Expenses
Variable _______
Fixed _______ __________
Operating Income __________
NET PRESENT VALUE FOR LEASE/BUY METHODS
Note: Annual Cash Inflows: (use 14C-4 table)
Single Years: (Use 14C-3 table)
Item Year Amt of Cash Flows PV Factor PV of Cash Flows
(NOW) ($$$) (%) ($$$$)
(Note: NOW values are always in deficit)
*********************************************************************************************************
MACRS and NET PRESENT VALUE
(NET PRESENT VALUE)
(1) (2)
ITEM YEARS AMOUNT TAX EFFECT CASH FLOWS PV FACTOR PRESENT VALUE
(1 ? TAX RATE) (1 X 2)
MACRS TABLE
COST OF EQUIPMENT MACRS% DEP...
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COST OF GOODS MANUFACTURED SCHEDULE
Direct Materials:
Raw Materials Inventory _______
Add: Purchases of raw materials _______
Raw Materials Available for Use _______
Deduct: Raw Materials Inventory _______
Raw Materials ________
Direct Labor ________
Manufacturing Overhead:
Rent on Facilities ________
Insurance ________
Indirect Labor ________
Utilities ________
Maintenance, factory ________
Depreciation, factory ________
Total Overhead Costs ________
Total Manufacturing Costs ________
Work in process inventory ________
Deduct: Work in process inventory ________
Cost of Goods Manufactured ________
COST OF GOODS SOLD
Beginning Finished Goods Inventory ________
Add: Cost of Goods Manufactured ________
Cost of Goods Available for Sale ________
Deduct: Finished Goods Inventory, ________
Cost of Goods Sold ________
INCOME STATEMENT
Sales ________
Less: Cost of Goods Sold _______
Gross Margin ________
Less: Administrative Expenses _______
Less: Selling Expenses _______
Net Operating Income ________
*******************************************************************************************************
JOINT PRODUCT COSTING
Units Price Total
Product A (# of Units) x Unit Price = $$$
Product B
Total
Revenue, if processed further
Less:
Additional Opportunity Costs ($$$)
Total Cost of Processing
Net Disadvantage of Processing
_______________________________________
Alternative Method:
Revenue if processed further $$$$
Revenue if Sold As Is -($$$)
Incremental Revenue
Incremental Cost of Processing -($$$)
Incremental Disadvantage $$$$
MAKE/BUY DECISION
Make Buy (Seller Offering Goods)
Direct Materials
Direct Labor
Variable Overhead (% x #)
Total Cost to Make
Cost To Buy
Cost Saving
******************************************************************************************************
FLEXIBLE BUDGETING
Original Budget Actual Costs
Direct Materials
Direct Labor
Variable Overhead
Fixed Overhead
Total
(Note: Divide Units by each of the above to get Unit Price)
Cost Formula: Total Cost = Variable Cost + Fixed Cost
(SP x SQ) (AQ x SP) (AQ x AP) (2-3)
Original Budget Flexed Budget Actual
(Units) (Units) Cost Variance
Item (Always Given) (Always Given)
(Price divided by Units = Unit Price)
(Note: Subtract Flexed Budget # from Actual # to get Variance)
CONTRIBUTION MARGIN INCOME STATEMENT
Sales (Unit Price x Units Sold) ____________
Variable Costs:
Manufacturing (Unit Cost x Units Sold) _________
Selling and Administrative
(Unit Cost x Units Sold) ________ ____________
Contribution Margin ____________
Fixed Costs
Manufacturing ________
Selling and Administrative ________ ____________
Operating Income ____________
(TRADITIONAL)
Sales __________
Cost of Goods Sold
Variable: ________
Fixed ________ __________
Gross Profit __________
Selling and Administrative Expenses
Variable _______
Fixed _______ __________
Operating Income __________
NET PRESENT VALUE FOR LEASE/BUY METHODS
Note: Annual Cash Inflows: (use 14C-4 table)
Single Years: (Use 14C-3 table)
Item Year Amt of Cash Flows PV Factor PV of Cash Flows
(NOW) ($$$) (%) ($$$$)
(Note: NOW values are always in deficit)
*********************************************************************************************************
MACRS and NET PRESENT VALUE
(NET PRESENT VALUE)
(1) (2)
ITEM YEARS AMOUNT TAX EFFECT CASH FLOWS PV FACTOR PRESENT VALUE
(1 ? TAX RATE) (1 X 2)
MACRS TABLE
COST OF EQUIPMENT MACRS% DEP...
Essay fragment
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