Karteikarten
Cost Accounting Chapter 2
Karten in diesem Stapel (14)
- 1absorption costinga costing method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed manufacturing overhead - in unit product costs.
- 2job-order costinga costing system used in situations where many different products, jobs, or services are produced each period.
- 3bill of materialsa document that shows the quantity of each type of direct material required to make a product
- 4materials requisition forma document that specifies the type and quantity of materials to be drawn from the storeroom and that identifies the job that will be charged for the cost of those materials
- 5job cost sheeta form that records the direct materials, direct labor, and manufacturing overhead cost charged to a job
- 6time ticketa document that is used to record the amount of time an employee spends on various activities
- 7predetermined overhead ratea rate used to charge manufacturing overhead cost to jobs that is established for each period. It is computed by dividing the estimated total manufacturing overhead cost by the estimated total amount of the allocation base for the period.
- 8allocation basea measure of activity such as direct labor-hours or machine-hours that is used to assign costs to cost objects
- 9overhead applicationthe process of assigning overhead cost to specific jobs
OH applied to a particular job = predetermined OH rate * amount of the allocation base incurred by the job - 10Normal cost systema costing system in which overhead costs are applied to a job by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job
- 11cost drivera factor, such as machine-hours, beds occupied, computer time, or flight hours, that causes overhead costs
- 12plantwide overhead ratea single predetermined overhead rate that is used throughout a plant
- 13multiple predetermined overhead ratesa costing system with multiple overhead cost pools and a different predetermined overhead rate for each cost pool, rather than a single predetermined overhead rate for the entire company. Each production department may be treated as a separate overhead cost pool
- 14cost-plus pricinga pricing method in which a predetermined markup is applied to a cost base to determine the target selling price
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- Karteikarten am Cost Accounting Chapter 2, erstellt von ANGIE BAILLY am 22/08/2020.
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