Across
- 3. a department responsible for gathering, compiling and communicating information about the company’s activities.
- 5. defined as expended labor which does not directly affect the construction or the composition of the finished product or those factory labor costs which are supportive or supervisory in nature whose services are essential to factory operations but do not work directly on the product.
- 8. The second stage of CAIS Accounts for Cost which is the assignment of direct and indirect costs to a particular costing object.
- 10. It is an accounting information system which determines the costs of products manufactured or services provided and record these costs in the accounting records.
- 12. These are production costs incurred in the plant or factory that cannot be classified as direct materials nor direct labor.
- 13. These are incurred by the different departments that provide assistance to the line or operating units. They are indirect costs of the line departments with the exception of those costs which are traceable directly to the latter.
- 14. the net revenue foregone by rejecting an alternative or the measurable value of an opportunity bypassed by rejecting an alternative use of resources.
- 15. She is a writer, editor and speaker who has a PhD in creative writing and is well known for her work on literature, economics and the natural world. She is the author of the bestselling, internationally acclaimed Double Entry: How the merchants of Venice shaped the modern world (2011).
- 16. a variable or fixed cost that shifts upward or downward when activity changes by a certain interval or step.
- 18. is the sum of direct labor costs and factory overhead.
- 20. These are the costs of using the capital invested in the assets of the company. It consists of both the costs of borrowed capital and costs of equity capital.
Down
- 1. the process by which companies plan and control the costs of doing business.
- 2. This method involves estimating the fixed and variable elements of a mixed cost visually on a graph.
- 3. cost of converting direct materials into finished product
- 4. these are materials that form an integral part of the finished product whose costs can be conveniently traced into it.
- 6. They are in the best position to supply the budget information since they have access to all the needed information—bills of material, routings, throughput capacity constraints, and sales estimates by unit.
- 7. an item of cost for which the optimum amount that should be spent can be estimated. It has a clear relationship to output.
- 9. refers to all expenditures made from the time the finished product leaves the factory until it is delivered to the customer and the customer’s payment has been recorded.
- 11. costs that remain constant in total but will vary on a per unit basis within the defined relevant range regardless of changes in activity level.
- 17. It is the process of tracking, recording and analyzing costs associated with the products or activities of an organization. It is considered as a specialized branch of accounting which involves the classification, accumulation, assignment and control of costs.
- 19. cost of resources already incurred in the past whose total will not be affected by any decision made now or in the future. These are the past costs about which nothing can be done hence they are considered as irrelevant costs.