Overhead Apportionment Calculator

The overhead apportionment calculator, sometimes referred to as a cost apportioning calculator, can be used to apportion up to eight overhead types between six departments or cost centers.

Overhead Apportionment Calculator November 6th, 2016Team
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Cost Apportionment of General Overhead

Cost apportionment is the process of distributing general overheads to cost centers or departments. An appropriate base quantity such as floor area or kilowatt hours is used to calculate the apportioned overhead.

Cost Apportionment of General Overhead November 6th, 2016Team
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CVP Income Statement

A CVP income statement rearranges the traditional format to show variable expenses, contribution margin, and fixed expenses allowing a business to make cost volume profit decisions.

CVP Income Statement November 6th, 2016Team
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Product and Period Costs

A business needs to separate period and product cost as product costs are included as part of the inventory until the product is sold, whereas period costs are treated as an expense in the income statement in the period in which they are incurred.

Product and Period Costs November 6th, 2016Team
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Equivalent Units FIFO method

The equivalent units FIFO method is used in process costing to express partially completed units of product in terms of finished units.

The objective of using equivalent units is to be able to allocate production costs to completed and partially completed units.

Equivalent Units FIFO method November 6th, 2016Team
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Equivalent Units of Production

The equivalent units of production method is used in process costing to express partially completed units of product in terms of finished units.

The objective of using equivalent units is to be able to allocate production costs to completed and partially completed units.

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Manufacturing Overhead

Manufacturing overheads, refer to all the indirect costs incurred in the factory necessary to run the manufacturing operation while the product is being produced.

Manufacturing Overhead November 6th, 2016Team
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Fixed Overhead Variance

In a standard costing accounting system, fixed manufacturing overhead has two main variances budget and volume. Fixed overheads are those costs which do not vary in response to the level of production output. To operate a standard costing system and allocate fixed overhead, the business must first decide on the basis of allocation, and calculate the standard fixed overhead allocation rate.

Fixed Overhead Variance November 6th, 2016Team
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