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| all executive organizational and clerical costs associated with the general management of an organization rather than with manufaturing or selling. |
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| a detailed plan for the future, usually espressed in formal quantitave terms. |
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| A cost that is incured to support a number of cost objects but can not be traced to them individualy |
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| the process of instituting procedures and obtaining feedback |
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| ensuring that the plan is actually carried out |
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| Direct labot cost + Manufacturing overhead cost |
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| The way in which a cost reacts to changes in the level of activity |
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| anything for which cost data are desired |
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| the manufacturingcosts associated with the goods that were finished during the period |
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| a difference in cost inbtween any two alternatives |
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| A difference in revenue between two alternatives |
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| Cost that can be easily and conveniently traced to a specified cost object |
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| Labor costs that can be easily traced to individual units of product |
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| Materials that become an integral part of a ginished product and whos costs can be conveniently traced to it |
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| Mobilizing people to carry out plans and run routine operations |
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| An increase in cost between two aternatives |
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| A cost that can not be easily and conveniently traced to a specifed cost object |
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| The labor cost of janitors, supervisors, material handlers, and other factory workers that cannot be conveniently traced to particular products |
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| small items of material sch as glue and nails that may be an intergral part of a finished product but whose costs cannot be easily or conveniently traced to it |
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| the phase of account concerned with providing information to managers for use in planning and controlling operations and in decision making |
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| All manufacturing costs except direct material and direct labor |
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| A detailed report comparing budgeted data to actual data |
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| costs that are taken directly to the income statement as expenses in the period in which that are incurred or accured |
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| planning and control cycle |
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Definition
| the flow of management activities through planing, Directly to the income statement as expenses in the period in which they are incurred or accrued |
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Term
| planning and control cycle |
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Definition
| the flow of management activities through planing, Directly to the income statement as expenses in the period in which they are incurred or accrued |
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Term
| planning and control cycle |
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Definition
| the flow of management activities through planing, directing and moticatin and controlling and then back to planning again |
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| direct material cost + direct labot cost |
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| all costs that are incolved in acquiring or making a product |
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| Relatie range of activity ithin which assumptions about variable and fixed cost behavior are valid |
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| Any part of an organization that can be evaluated independently of other parts and about wich the manager seeks finacial data |
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| 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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| costing method that includes all manufaturing costs- direct materials, direct labor, and both variable and fixed manufacturing overhead- in the cost of a producct |
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| A measure of activity such as direct labor-hours or machine-hours that is used to assign costs to cost objects |
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| A factor such as machine-hours, beds occupied, computer time, or flight hours, that causes overhead costs |
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| A form prepared for a job that records the materials, labor and manufacturing overhead costs charged to that job |
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Definition
| a costing systemused in situations where many different products, jobs or services are produced each period |
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| Material requisition form |
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Definition
| A derailed source document that specifies the tyoe and quantity of materials to be drawn from the storeroom and that identifies the jo that is charged for the cost of those materials |
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Definition
| A costing system in which overhead costs are applie to a job by multiplying a predetemined overhead rate by that actual amount of the allocation base incured by the job |
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Definition
| a credit balance in the manufaturing overhead account that occurs when the amount of overhead cost applied to work in process exceeds the amount of overhead cost actually incured during a period |
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| The process of chharging manufaturing overhead cost to job cost sheets and to the work in process account |
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| Predetermined overhead rate |
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| A rate used to charge overhead cost too jobs that is estabkushed in advance for each period. |
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| A costing system used n situations where a single homogeneous product is produced for long periods of time |
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| a debit balance in the manufaturing overhaed account that arises when the amount of overhead cost actually incurred exceeds the amount of overhead cost applied to work in process during a period |
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| An event that causes the consumtion of overhead resources |
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| Activity based costing(ABC) |
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Definition
| A two-sage costing metho in which overhead costs are applied to products on the basis of the activites they require |
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| Activity based management |
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Definition
| A management approach that focuses on managing activities as a way if elimination waste and reducing delays and defects |
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| A bucket in which costs are accumulated that relate to a single activity measure in a activity-based costing system |
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| a bucket in which costs are accumulated that relate to a single activity measure in an activity-based costing system |
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| An allocationbased in an activity based costing system |
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| A predetermined overhead rate in activity based costing |
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| An activity that is preformed each time a batch of goods is handled or processed, regardless of how many inits are in a batch |
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| a systematic aproach to identigying the activities with the greatest room for improvement |
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| Activites that relate to the overall csts of maintainting the managing prodictive capacity and that cant be traced to specific products |
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| Activites that relate to specific products that must be carried out regardless of how many units are produced and sold or batches run |
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Definition
| Activites that arise as a result of the total colume of goods and services that are produced and that are preformed each time a unit is produced |
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Definition
| Direct labor cost + manufactureing overhead cost |
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| The product of the number of partially completed units and their percentage of completino with respect to a particular cost |
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| Equivalent units of production (weight average method) |
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Definition
| The units transferred to the next department during the period plus the equivalent units in the departments ending work in process inentory |
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Definition
| A method of accounting for cost flows in a process costing system in hich equivalent inits and unit costs relate only to work done during the current period |
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Definition
| A costing method used when essentially homogeneous products are produced on a continuous basis |
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Definition
| An orginizational init where wok is performed on a product and where materials labor or overhead costs are added to the prodct |
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Definition
| The cost attached to products that have been received from a prior processing department |
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Definition
| A method of process costing that blend together units and costs from bot the current and prior periods |
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