Costs

1. The actual costs of direct materials and direct labor plus overhead assigned on the basis of a predetermined rate is known as
4. Traditional cost accounting systems often allocated the manufacturing overhead in an automated plant on the basis of
8. Allocating manufacturing overhead to products on the basis of direct labor or machine
9. Another name for 'factory' overhead is
10. the costing method that excludes fixed manufacturing overhead from the product costs is direct or
11. cause cost recognize at ABC costing
13. the manufacturing departments that are directly involved in converting raw materials into finished units of product
14. Is the activity that causes costs to occur. For example, the number of times a machine is set up might be the activity used to allocate the pool of costs associated with machine setups.
16. This overhead rate is computed prior to the start of the accounting year and is based on budgeted overhead costs divided by budgeted units of activity.

2. This method of allocating service department costs uses simultaneous equations. It is the preferred method when service departments provide services to other service departments and to production departments.
3. The manufacturing departments that are directly involved in converting raw materials into finished units of product
5. An alternative to conventional costing systems. This system does not allocate manufacturing overhead on a single basis such as machine hours.
6. A product cost in a Factory (or manufacturing) overhead is
7. variable in an equation for a mixed cost might be a cost driver
12. Items that have been manufactured but have not yet been sold are counted as finished goods
15. This method of allocating service department costs will allocate some of the service departments' costs to other service departments. However, this method does not provide for reciprocal allocations.