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10 Cards in this Set

  • Front
  • Back
Administrative Costs
All executive, organizational, and clerical costs associated with the general management of an organization
Common Costs
Incurred to support a number of cost objects, but cannot be traced to them individually
Conversion Cost
Direct labor cost + manufacturing overhead cost
Cost Behavior
The way in which a cost reacts to changes in the level of activity
Cost Object
Anything for which cost data are desired. E.G products, product lines, customers, jobs...
Cost of Goods Manufactured
Manufacturing costs associated with the goods that were finished during the period
Differential Costs
Difference in cost between two alternatives (incremental cost)
Direct Cost
A cost that can be easily and conveniently traced to a specified cost object
Direct Labor
Factory labor costs that can be easily traced to individual units of product (touch labor)
Direct Materials
Materials that become an integral part of a finished product and whose costs can be coveniently traced to it