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