24950004
Description
Flashcards by Nathan Waghorn, updated more than 1 year ago
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Created by Nathan Waghorn
over 3 years ago
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| Question | Answer |
| Direct Cost | Can be traced directly to the thing that is being costed. |
| Indirect Cost (Overhead) | This cost cannot be fully traced back to the thing that is being costed. |
| Absorption Costing | A method that tries to include the portion of an overhead that was used by this thing being costed. |
| Marginal Cost | The cost of a specific unit that would no longer exist if that unit was not produced. |
| Marginal Costing | An alternative to absorption costing whereby only variable costs are absorbed into a product and fixed costs are sent to the income statement. |
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