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10 Cards in this Set
- Front
- Back
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activity base (driver)
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A measure of activity that is related to changes in cost. Used in analyzing and classifying cost behavior. Activity bases are also used in the denominator in calculating the predetermined factory overhead rate to assign overhead costs to cost objects.
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activity cost pools
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Cost accumulations that are associated with a given activity, such as machine usage, inspections, moving, and production setups.
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activity rate
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The cost of an activity per unit of activity base, determined by dividing the activity cost pool by the activity base.
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activity-based costing (ABC) method
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A cost allocation method that identifies activities causing the incurrence of costs and allocates these costs to products (or other cost objects), based on activity drivers (bases).
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engineering change order (ECO)
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A document that initiates a change in the specification or a product or process.
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multiple production department factory overhead rate method
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A method that allocated factory overhead to product by using factory overhead rates for each production department.
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product costing
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Determining the cost of a product.
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production department factory overhead rates
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Rates determined by dividing the budgeted production department factory overhead by the budgeted allocation base for each department.
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setup
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Changing the characteristics of a machine to produce a different product.
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single plantwide factory overhead rate method
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A method that allocates all factory overhead to products by using a single factory overhead rate.
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