• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/14

Click to flip

14 Cards in this Set

  • Front
  • Back
Actual Costing
assigns actual costs of DM, DL, and OH to products; can't provide accurate unit cost info on a timely basis
Normal Costing
assigns the actual costs of DM & DL to prodcuts; OH costs are assigned to products using predetermined rates
Predetermined Rate for normal costing
Budgeted OH costs/ Budgeted allocation base
Product Cost/ Inventoriable costs
Cost associated with making the product: DL, DM, OH
Inventory till sold => COGS
Period cost/ expired costs
not part of making the product; expensed in the period incurred
Sales commissions, depreciation, administrative costs, interest expense
Always included as an expense on the Income statement
Direct costs
traced or linked to a specific unit or product
Indirect cost
cannot be traced to a specific unit or product
Factory Overhead
indirect labor costs, indirect material costs, and other production facility costs
Overhead applied
amount placed into the work in process account- based on estimates
WIP
OH applied
Overhead control
record actual overhead bills
Overhead control
A/P
Prime Costs
DL & DM
Conversion costs
DL & MOH
Cost of converting DM into finished product
Avoidable cost
will change as a result of a decision
Unavoidable cost
will not change as a result of decision