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Definition
| All executive, organizational, and clerical costs associated with the general management of an organization rather than with manufacturing, marketing, or selling |
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Term
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Definition
| A common cost is a cost incurred to support a number of cost objects but cannot be traced to them individually. |
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Term
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Definition
| Direct labor cost plus manufacturing overhead cost. |
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Term
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Definition
| The way in which a cost reacts to changes in the level of activity. |
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Term
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Definition
| Anything for which cost data is desired. |
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Term
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Definition
| The manufacturing costs associated with the goods that were finished during the period. |
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Term
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Definition
| a difference in cost between two alternatives. AKA incremental cost |
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Term
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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 individual units of product. |
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Term
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Definition
| Factory labor costs that can be easily traced to individual units of product. |
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Term
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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
| 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 have not yet been sold to customers |
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Term
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Definition
| a cost that remains constant, in total, regardless of changes in activity. If a FC is expressed in a per unit basis, it varies inversely with the level of activity. |
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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
| a cost that cannot be easily and conveniently traced to a specified cost objective. |
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Term
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Definition
| The labor costs of those workers that cannot be conveniently traced directly to particular products. |
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Term
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Definition
| Small items of material that may be an integral part of the finished product , but their costs cannot be easily or conveniently traced to it. |
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Term
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Definition
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Term
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Definition
| all costs associated with manufacturing except direct materials and direct labor |
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Term
| Marketing or Selling Costs |
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Definition
| All costs necessary to secure customer orders and get the finished product or service into the hands of the customers |
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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 were expensed or accrued. |
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Term
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Definition
| direct materials cost plus direct labor cost. |
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Term
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Definition
| All costs that are involved in the purchase or manufacturing of goods. |
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Term
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Definition
| Any materials that go into the finished product. |
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Term
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Definition
| The range of activity within which assumptions about VC and FC are valid. |
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Term
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Definition
| a schedule showing the direct materials, direct labor, and manufacturing overhead costs incurred for a period and that are assigned to Works in Process and completed goods. |
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Term
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Definition
| Any 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. A variable cost is constant per unit. |
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