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;
12 Cards in this Set
- Front
- Back
|
Overhead cost |
Indirect costs, which are not directly applicable to a given project or activity |
|
|
Fixed Costs |
Costs that are constant regardless of the level of output or activity |
|
|
Marginal Cost |
Cost of one additional unit of output or activity |
|
|
Average cost |
Total cost divided by the number of units of output or activity |
|
|
Total Cost |
Addition of all fixed costs and all variable costs |
|
|
Sunk Costs |
Costs which have already be incurred or cannot be avoided as a result of a past decision |
|
|
opportunity costs |
cost of foregoing a possible revenue by selecting a different alternative |
|
|
recurring costs |
known costs that occur at regular intervals |
|
|
nonrecurring costs |
expenses that occur irregularly |
|
|
incremental costs |
difference between the costs of two different alternatives |
|
|
Cash Costs |
Costs that involve the direct transfer of funds |
|
|
Book Costs |
Costs that do not involve the direct transfer of fund (e.g. depreciation of equipment value) |
