Revenue
Expenditures
Pricing
Payroll
Formulas
100
A revenue that does not change in total as the amount of the activity driver changes throughout the relevant range
What is fixed revenue
100
A benefit forgone when choosing one alternative over another
What is Opportunity cost
100
The practice of selling products below cost in an attempt to drive out competition, control the market, and then raise prices
What is Predatory Pricing
100
A fringe benefit contingent on the occurrence of some future event
What is Bonus
100
This method of cost or revenue estimation uses only two data points
What is High/Low Method
200
a series of interrelated activities designed to generate revenue
What is Revenue process
200
A series of interrelated activities designed to enable the company to generate revenue
What is Expenditure Process
200
when a group of companies agree to limit supply and charge identical prices
What is Price Fixing
200
Payment for services rendered based on a percentage of revenue generated
What is Commission Pay
200
This is the break-even point formula in units
What is
Fixed Costs รท (Price - Variable Costs) = Break-even Point in Units
300
A revenue that changes in direct proportion to the change in the amount of activity driver throughout the relevant range
What is Variable Revenue
300
The cost of all manufacturing resources used to make products that are not directly associated with production.
What is Manufacturing overhead
300
an additional amount over cost that is added to determine selling price
What is markup
300
These taxes are paid by the employer but NOT paid by the employee.
What is FUTA and SUTA unemployment taxes
300
this is the formula to calculate the bonus amount after bonus and before taxes.
What is
Bonus = (Income before bonus -Bonus) x Bonus Rate
400
What does each element in the equation T = a + b(X) indicate in terms of revenue
What is T = total revenue; a = fixed revenues; b = variable revenues; and X = activity driver
400
The additional cost associated with an alternative
What is Incremental cost
400
A pricing strategy where a company first determines the selling price of a product and then decides whether to enter the market.
What is Target pricing
400
These are the two taxes that make up the FICA taxes
What is Social Security and Medicare
400
This is the formula to estimate the quantity needed to reach a specific profit.
What is Q = (FC P)/CM
500
This is the activities in the revenue process (name 4 of the 5)
What is (1) determine marketing and distribution channels, (2) receive and accept orders, (3) deliver goods/services, (4) receive payment from customers, (5) provide customer support.
500
A cost that is related to selling the products and services or administering the company.
What is non-product cost
500
a pricing strategy where the company attempts to set a selling price for the life of the product based on its total life-cycle costs
What is life-cycle pricing
500
A bonus is usually based on this figure
What is Net Income
500
This is the EOQ model for inventory ordering with definitions of factors
What is Q = &#8730 2DO/C
D = Demand
O = Cost to place order
C = Cost to carry one additional unit in inventory
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