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Cost/Managerial Accounting Chapter 6 key terms
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- 1Absorption costingA costing method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed manufacturing overhead—in unit product costs.
- 2Common fixed costA fixed cost that supports more than one business segment, but is not traceable in whole or in part to any one of the business segments.
- 3SegmentAny part or activity of an organization about which managers seek cost, revenue, or profit data
- 4Segment marginA segment’s contribution margin less its traceable fixed costs. It represents the margin available after a segment has covered all of its own traceable costs.
- 5Traceable fixed costA fixed cost that is incurred because of the existence of a particular business segment and that would be eliminated if the segment were eliminated.
- 6Variable costingA costing method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in unit product costs.
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- Cost/Managerial Accounting Chapter 6 key terms
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