Costing

overhead apportionment calculator v 1.0

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.

Last modified January 17th, 2020 by Michael Brown
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cost allocation

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.

Last modified August 3rd, 2020 by Michael Brown
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CVP income statement

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.

Last modified January 7th, 2020 by Michael Brown
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product and period costs

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.

Last modified October 23rd, 2019 by Michael Brown
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equivalent units formula

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.

Last modified November 26th, 2019 by Michael Brown
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equivalent units formula

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.

Last modified November 26th, 2019 by Michael Brown
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manufacturing overhead components

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.

Last modified November 21st, 2019 by Michael Brown
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fixed overhead variance

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.

Last modified July 16th, 2019 by Michael Brown
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variable overhead variance

Variable Overhead Variance

In a standard costing accounting system, variable manufacturing overhead has two main variances rate and efficiency. Variable overheads are those costs which vary in response to the level of production output but which cannot be attributed to individual units of production. To operate a standard costing system and allocate variable overhead, the business must first decide on the basis of allocation.

Last modified February 2nd, 2023 by Michael Brown
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