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Definition
| All executive, organizational, and clerical costs associated with the general management of an organization rather than with manufacturing or selling |
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Definition
| A cost that is incurred to support a number of cost objects but that cannot be traced to them individually |
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Definition
| Direct labor cost + Manufacturing Overhead Cost |
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Definition
| The way in which a cost reacts to changes in the level of activity |
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Definition
| Anything for which cost data are desired (products, customers, jobs, and parts of the organization such as departments or divisions) |
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Term
| Cost of Goods Manufactured |
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Definition
| The manufacturing costs associated with the goods that were finished during the period |
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Definition
| A difference in cost between two alternatives |
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Definition
| The difference in revenue between two alternatives |
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Term
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Definition
| A cost that can be easily and conveniently traced to a specified cost object |
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Definition
| Factory labor costs that can be easily traced to individual units of product |
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Definition
| Materials that become an integral part of a finished product and whose costs can be conveniently traced to it |
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Term
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Definition
| Units of product that have been completed but not yet sold to customers |
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Definition
| A cost that remains constant, in total, regardless of changes in the level of activity within the relevant range |
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Term
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Definition
| An increase in cost between two alternatives |
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Term
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Definition
| An increase in cost between two alternatives |
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Term
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Definition
| The labor costs of janitors, supervisors, materials handlers, and other factory workers that cannot be conveniently traced to particular products |
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Term
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Definition
| Small items of material such as glue and nails that may be an integral part of a finished product, but whose costs cannot be easily or conveniently traced to it |
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Term
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Definition
| All manufacturing costs except direct materials and direct labor |
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Term
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Definition
| The potential benefit that is given up when one alternative is selected over another |
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Term
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Definition
| Costs that are taken directly to the income statement as expenses in the period in which they are incurred or accrued |
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Term
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Definition
| Direct Materials Cost + Direct Labor Cost |
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Term
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Definition
| All costs that are involved in acquiring or making a product |
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Term
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Definition
| Any materials that go into the final product |
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Term
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Definition
| The range of activity within which assumptions about variable and fixed cost behavior are valid |
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Term
| Schedule of Cost of Goods Manufactured |
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Definition
| A schedule showing the direct materials, direct labor, and manufacturing overhead costs incurred during a period and the portion of those costs that are assigned to Work in Process and Finished Goods |
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Term
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Definition
| All costs that are incurred to secure customer orders and get the finished product or service into the hands of the customer |
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Term
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Definition
| A cost that has already been incurred and that cannot be changed by any decision made now or in the future |
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Term
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Definition
| A cost that varies, in total, in direct proportion to changes in the level of activity |
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Term
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Definition
| Units of product that are only partially complete |
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Definition
| Costs that are incurred to identify defective products before the products are shipped to customers |
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Term
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Definition
| Costs that are incurred when a product or service that is defective is delivered to a customer |
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Term
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Definition
| Costs taht are incurred as a result of identifying defective products before they are shipped to customers |
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Term
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Definition
| Quality control requirements issued by the International Organization for Standardization that relate to products sold in European countries |
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Term
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Definition
| Costs that are incurred to keep defects from occurring |
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Term
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Definition
| Small groups of employees that meet on a regular basis to discuss ways of improving quality |
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Term
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Definition
| Costs that are incurred to prevent defective products from falling into the hands of customers or that are incurred as a result of defective units |
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Term
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Definition
| A report that details prevention costs, appraisal costs, and the costs of internal and external failures |
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Term
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Definition
| The degree to which a product or service meets or exceeds its design specifications and is free of defects or other problems that mar its appearance or degrade its performance |
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Term
| Statistical Process Control |
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Definition
| A charting technique used to monitor the quality of work being done in a workstation for the purpose of immediately correcting any problems |
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