Term
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Definition
| an area of accounting that involves measuring, recording, and reporting product costs |
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Term
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Definition
| Manufacturing- cost accounts that are fully integrated into the general ledger of a company |
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Term
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Definition
| A form used to record the costs chargeable to a specific job and to determine the total and unit costs of the completed job |
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Term
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Definition
| A cost accounting system in which costs are assigned to each job or batch |
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Term
| Materials Requisition Slip |
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Definition
| A document authorizing the issuance of raw materials from the stroeroom to production |
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Term
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Definition
| A situation in which overhead assigned to work in process is greater than the overhead incurred |
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Term
| Predetermined overhead rate |
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Definition
| A rate based on the relationshiop between estimated annual overhead costs and expected annual operating activity, expressed in terms of a common activity base |
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Term
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Definition
| A cost accounting system used when a company manufactures a large volume of similar products |
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Term
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Definition
| A journal entry that summarized the totals from multiple transactions |
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Term
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Definition
| A docutment that indicates the employee, the hours worked, the account and job to be charged, and the total labor cost |
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Term
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Definition
| A situation in which overhead assigned to work in process is less than the overhead incurred. |
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