Formula sheet End term

Contribution margin per unit = Selling price – All variable costs per unit.

“Minimum Transfer Price” rule = Incremental cost per unit + Opportunity cost per unit.

Equivalent units’ equation: units WIP beginning inventory + units started ≡ units completed and
transferred out + units WIP ending inventory + spoiled units! (WIP = Work in Process)
When making the end term keep in mind the following issues:
 The test uses the US-decimal system: (.) as decimal. So 93% is 0.93.
The thousand separator is (,), but it is not necessary to use the thousand
separators when you enter numbers in MyAccountingLab.
 Rounding numbers: first read the rounding indication in the exercise. When
you make intermediate calculations, do not round, but only round the final
answer that you enter in MyAccountingLab.
 Negative numbers can be entered in MyAccountingLab using a (-) sign.
 The test closes automatically after the established time limit.
If you finish before the allocated time you have to press SUBMIT. Do not
press SUBMIT before you are sure to have completed the entire test.
 The “Show Work” feature in the test can be used, but is not necessary.
Using it will not affect your grade of the test. The questions can be
answered in any order you like.
Excel can be used for making calculations, but you don’t have to submit it,
neither will using Excel affect your test grade!
1. During the test the only programs that you may have open is
MyAccountingLab and Excel. All other programs must be closed!
Formulasheet end term 2019
Tuesday, June 13, 2023
2. Making network connections by any means is strictly forbidden!
3. On your table are allowed: scrap paper, formula sheet, Unannotated English
dictionary and a calculator.
Formulasheet end term 2019
Tuesday, June 13, 2023