Koofers

Chapter 5 - Flashcards

Flashcard Deck Information

Class:ACC 312 - FUNDAMENTALS OF MANAGERIAL ACC
Subject:Accounting
University:University of Texas - Austin
Term:Spring 2010
- of -
INCORRECT CORRECT
- INCORRECT     - CORRECT     - SKIPPED
Shuffle Remaining Cards Show Definitions First Take Quiz (NEW)
Hide Keyboard shortcuts
Next card
Previous card
Mark correct
Mark incorrect
Flip card
Start Over
Shuffle
      Mode:   CARDS LIST       ? pages   PRINT EXIT
volume-based costing system a product-costing system in which costs are assigned to products on the basis of a single activity base related to volume
ABC costing system two stage procedure to assign overhead costs to products.. 1) identify significant activities in the production of the three products and assign overhead costs to each activity in accordance with the cost of the organization's resources used by the activity. 2) overhead costs are allocated from each activity cost pool to each product line in proportion to the amount of the cost driver consumed by the product line
unit level activity an activity that must be done for each unit of production
batch level activity an activity that must be done for each batch of products, rather than unit
Generated by Koofers.com
product sustaining level activity activities that are needed to support an entire product line but are not performed everytime a new unit or batch of products is produced
facility level activities required in order for the entire production process to occur
pool rate cost per unit of the cost driver for a particular activity cost pool
consumption ratio the proportion of an activity consumed by a particular product
Generated by Koofers.com
cost driver characteristic of an event or activity that results in the incurrence of costs; causes the change of of an activity cost
Generated by Koofers.com

List View: Terms & Definitions

  Hide All 9 Print
 
Front
Back
 volume-based costing systema product-costing system in which costs are assigned to products on the basis of a single activity base related to volume
 ABC costing systemtwo stage procedure to assign overhead costs to products.. 1) identify significant activities in the production of the three products and assign overhead costs to each activity in accordance with the cost of the organization's resources used by the activity. 2) overhead costs are allocated from each activity cost pool to each product line in proportion to the amount of the cost driver consumed by the product line
 unit level activityan activity that must be done for each unit of production
 batch level activityan activity that must be done for each batch of products, rather than unit
 product sustaining level activityactivities that are needed to support an entire product line but are not performed everytime a new unit or batch of products is produced
 facility level activitiesrequired in order for the entire production process to occur
 pool ratecost per unit of the cost driver for a particular activity cost pool
 consumption ratiothe proportion of an activity consumed by a particular product
 cost drivercharacteristic of an event or activity that results in the incurrence of costs; causes the change of of an activity cost
36, "/var/app/current/tmp/"