Term
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Definition
| activity that provides financial and non financial information to an organization's managers and other decision makers |
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Term
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Definition
| tangible components of a finished product |
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Term
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Definition
| efforts of employees who physically convert materials to finished products. 15% of manufacturing costs in today's products. |
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Term
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Definition
| consists of all manufacturing costs that are not direct materials or direct labor |
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Term
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Definition
| consists of direct materials and direct labor costs. |
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Term
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Definition
| consist of direct labor and overhead costs |
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Term
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Definition
| refer to expenditures necessary and integral to finished products. costs that are capitalized as inventory |
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Term
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Definition
| expenditures identified more with time period than with finished products |
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Term
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Definition
| does not change with changes in the volume of activity |
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Term
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Definition
| changes in proportion to changes in the volume of activity |
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Term
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Definition
| costs traceable to a single cost object |
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Term
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Definition
| costs that cannot be easily and cont-beneficially traced to a single cost object |
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Term
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Definition
| refers to the goods a company requires to use in making products |
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Term
| goods in process inventory |
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Definition
| refers to the goods a company requires to use in making products |
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Term
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Definition
| consists of completed products ready for sale |
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