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13 Cards in this Set
- Front
- Back
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fixed
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insurance, property tax, depreciation
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variable
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food costs, amenities, beverages, paper
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step
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housekeepers, equipment
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mixed
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telephone, fees, leases royalties
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sunk
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past costs which have no bearing on the future/net book value of a fixed asset
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standard
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what actual costs should be under normal conditions
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overhead
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- includes all indirect costs of all profit centers
- may be distributed among profit centers by different allocation approaches |
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controllable
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costs over which managers have authority to exercise their judgement
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differential
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cost which differ b/w two alternatives
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relevant
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costs which should be considered in decision making situations
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discretionary
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- costs chich management could choose to avoid in the short run
- costs that may be optional and have no relevance to success of the operation |
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incremental
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- cost to produce another unit after a base cost per unit had been satisfied
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opportunity
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cost of a best forgone opportunity
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