Karteikarten
For Costing
Karten in diesem Stapel (39)
- 1= RETURN ON INVESTMENTProfit/Investment x 100
= ROI - 2= PRIME COSTDirect Labour
+ Direct Materials
+ Direct Expenses
is Total Direct Cost - 3—Materials/Labour/Expenses
ELEMENTS - 4—Direct Costs/Indirect Costs
NATURE
- 5—Production/Non Production-
Admin,Sell & Distribution,
Finance
- 6—Fixed
Variable
Semi-Variable
- 7= TOTAL COST UNIT OF OUTPUT CALCULATIONDirect Costs+Indirect Costs/
Number of Units of Output - 8DIRECT MATERIALSIdentifiable with the Product
- 9DIRECT LABOURThe Wages Paid to Those who Make the Product
- 10DIRECT EXPENSESIdentifiable with the Product
- 11= PRODUCTION COSTPrime Cost + Production Overheads
- 12TOTAL COSTProduction Cost + Selling & distribution Costs + Admin Costs + Finance Costs
- 13= PROFITRevenue - Total Cost
- 14= ECONOMIC ORDER QUANTITY EOQ2 x Annual Usage x Ordering Cost/
Inventory Holding Cost
(Square root it) - 15= NET REALISABLE VALUE NRVEstimated Selling Price - Costs
IAS no 2
Inventories - 16IDENTIFY THE AMOUNT OF FIXED VARIABLE COSTSHIGH/LOW METHOD
- 171 HIGH/LOW METHODHigh Output - Low Output = Difference.
Both Costs & Units - 182 HIGH/LOW METHOD = Variable cost Per UnitDifference in Cost/Diiference in Units = Variable Cost per Unit
- 193 COST STRUCTURETotal Cost - Variable Costs (Units x Variable Cost per Unit)
= Fixed Costs - 20= OVERHEAD ABSORBTION RATES OARTotal Budgeted Cost Centre Overheads/Total Planned Work in Cost Centre
- 21DIRECT LABOUR HOUR METHOD = Cost per Direct Labour Hour OARTotal Cost Centre Overheads/Total Direct Labour Hours (In cost Centre) =CPDLH
- 22MACHINE METHOD = COST PER MACHINE HOUR OARTotal Cost Centre Overheads/Total Machine Hours (In Cost Centre)
= CPMH - 23= DIRECT LABOUR PERCENTAGE ADD-ON in % OARTotal Cost Centre Overheads x 100
/Total Direct Labour Cost (In Cost Centre) =DLPAO - 24ABSORPTION (recovery)The charging of overheads to cost units (Units of Output)
- 25OVERHEAD ABSORPTION RATE (OAR) OF OVERHEADSThe Rate Used to Charge Overheads to Cost Units. Calculated in Advance
- 26BASIS OF ABSORBTIONThe measurement of work used to calculate the OAR,eg- DLH,MH,DLPAO,Miles Travelled
- 27OVER - or UNDER-ABSORPTION (recovery)The diff between the total amount of overheads absorbed (recovered) in a given period & the total amount spent on overheads.
- 28DIRECT APPORTIONMENTMethod of re-apportionment used where service depts provide services to production depts only
- 29APPORTIONMENT OF OVERHEADSThe sharing of O/H over a number of responsibility centres to which they relate -each dept is charged a portion of the O/H cost
- 30= UNIT COST OF THE COST OBJECTCost of Production/Output
/Number of Cost Units - 31= MARGINAL COSTDirect costs as Direct Materials +Direct Labour + Variable Production Overheads
- 32= ABSORPTION COST OF PRODUCTIONMarginal cost + (indirect costs as) Fixed Production Overheads
- 33= TOTAL COST OF PRODUCTIONAbsorption Cost of Production + Fixed Non-Production Overheads
- 34COSTING METHODSJob Costing
Batch Costing - 35Batch Costing Calculation = Total Cost per UnitTotal Batch Cost/ Number of Units of Output
- 36PROCESS ACCOUNT DEBITTransfer from previous process
Direct Materials;Direct Labour;Direct Expenses;Production O/H - 37PROCESS ACCOUNT CREDITTransfer to next process
Transfer to Finished Goods - 38PURPOSE MARGINAL COSTINGHelps with short-term decision making
- 39PURPOSE ABSORPTION COSTINGIs used to calc inventory valuations & profit calc in Financial Statements
Informationen
- Beschreibung
- Karteikarten am For Costing, erstellt von lynna.11 am 31/01/2014.
- Erstellt von
- lynna.11
- Aufrufe
- 21
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