KnowledgeInventory_Week2

Learn this language before coming to class by reading

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Unformatted text preview: Learn this language before coming to class by reading the textbook. Language describing whether costs can be controlled Controllable Uncontrollable Language describing whether cost information is valuable Relevant cost Irrelevant cost Differential cost Sunk cost Language describing how costs behave Cost driver Fixed cost Variable cost Cost per unit Marginal cost Total cost Average cost Language describing how costs are traced to units Process costing Job costing Job Accumulation Allocation Allocation basis Allocation rate Predetermined manufacturing overhead rate Language describing what happens when estimates are different than actual Under-allocated (under-applied) manufacturing overhead Over-allocated (over-applied) manufacturing overhead Closing manufacturing overhead 6A:002 Knowledge Inventory – Week 2 Spring 2010 Page 2 Concepts: You should know what these concepts mean and be able to explain them to a reasonably intelligent person who is not taking the course....
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