• 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

Card Range To Study

through

image

Play button

image

Play button

image

Progress

1/29

Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

29 Cards in this Set

  • Front
  • Back
account-classification method (also called account analysis)
a cost estimation method involving a careful examination of the ledger accounts for the purpose of classyifying each cost as variable, fixed, or semivariable
coefficient of determination
astatistical measureof goodness of fit;ameasure of how closely a regression line fits the data on which it is based
committed cost
a cost that results from an organization's ownership or use of facilities and its basic organization structure
cost behavior
the relationship between cost and activity
cost estimation
the process of determining how a particular cost behaves
cost prediction
forecast of cost at a particular level of activity
curvilinear cost
a cost with a curved line for its graph
dependent variable
a variable whose value depends on other variables, called independent variables
discretionary cost
a cost that can be traced to a particular department or other subunit of an organization
engineered cost
acostthat results from a definitive physical relationship with the activity measure.
engineering method
a cost-estimation method in which a detailed study is made of the process thatresults in costincurrence
experience curve
a graph (or other mathematical representation) that shows how abroad set of costs decline as cumulative production output increases
fixed cost
a cost thatdoes notchange in total as activity changes
goodness of fit
the closeness with which a regression line fits the data upon which it is based
high-low method
a cost estimation method in which a cost line is fit using exactly two data points - the high and low activity levels
independent variable
the variableupon which an estiamte is based in least-squares regression analysis
learning curve
a graphical expression of the decline in the averagelabortimerequired per unit as cumulative output increases
least-squares regression method
a cost estimation method in which the cost line is fit to the date by statistical analysis. The method minimizes the sum of the squared deviations between the cost line and the data points
multiple regression
a statistical method in which a linear (straight-line) relationship is estiamtedbetween a dependent variable and two or more independent variables.
outlier
a data point that fallsfar away from the other points in a scatter diagram and is not representative of the data
regression line
a line fit to a set of data points using least-squares regression
relevant range
the range of activity within which mangaement expects the organization to operate
scatter diagram
a set of plotted cost observations at various activity levels
semivariable (or mixed) cost
a cost with both a fixed and a variable componenet
simple regression
a regression analysis based on a single independent variable
step-fixed costs
a cost that remains fixed over wide ranges of activity, but jumpstoadifferent amount for activity levels outside the range
step-varibale costs
a cost that is nearly varibale, but increasesin small stepsinstead of continuously
variable cost
a cost that changes in total in direct proportion to a change in an organization's activity
visual-fit method
a method of cost estimation in which a cost line is drawn through a scatter diagram according to the visual perception of the analyst