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Chapter 14 - Flashcards

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Class:ACC 312 - FUNDAMENTALS OF MANAGERIAL ACC
Subject:Accounting
University:University of Texas - Austin
Term:Spring 2010
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obtaining information relevance, accuracy, and timeliness
information overload when someone experiences too much information and decision making becomes more difficult
outsourcing decison (make or buy) a choice between producing a product or service in house and purchasing it from an outside supplier
unavoidable expenses depreciation, insurancem general overhead
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avoidable expenses
joint production process results in two ot more products, called joint products.
split-off point the point in the production process where the joint products are identifiabe as separate products
relative sales-value method joint cost is allocated between the joint products in proportion to their sales value at the split off point
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separable processing cost the cost incurred after the split off point
sensitivity analysis technique for determining what would happen in a decision analysis if a ket prediction or assumption proved to be wrong
expected value equal to the sum of the possible calues for the variable, each weighted by its probability.
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 obtaining informationrelevance, accuracy, and timeliness
 information overloadwhen someone experiences too much information and decision making becomes more difficult
 outsourcing decison (make or buy)a choice between producing a product or service in house and purchasing it from an outside supplier
 unavoidable expensesdepreciation, insurancem general overhead
 avoidable expenses 
 joint production processresults in two ot more products, called joint products.
 split-off pointthe point in the production process where the joint products are identifiabe as separate products
 relative sales-value methodjoint cost is allocated between the joint products in proportion to their sales value at the split off point
 separable processing costthe cost incurred after the split off point
 sensitivity analysistechnique for determining what would happen in a decision analysis if a ket prediction or assumption proved to be wrong
 expected valueequal to the sum of the possible calues for the variable, each weighted by its probability.
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