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Cost/Managerial Accounting Chapter 6 key terms

Stephanie Poole Accounting Inglés 6 fichas

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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.