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7 Cards in this Set
- Front
- Back
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cost object
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anything for which a measurement of costs is desired
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direct costs of a cost object
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costs related to a particular cost objcet that can be traced to that cost object in an economically feasable way
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indirect dosts of a cost object
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costs related ot a particular cost object that cannot be traced to that cost object in an economically feasable way. Indirect costs are allocated to the cost object using a cost-allocation method
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cost pool
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a grouping of individual cost items
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cost allocation base
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links in a systematic way an indirect cost or group of indirect costs
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job costing vs process costing
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job costing is used to cost a distinct product and process costing is used to cost masses of identical or similar units
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actual costing is
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a costing system that traces direct costs to a cost object by using the actual direct-cost rates times the actual quntities of the direct cost inputs
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