Ch 17 definitions from HW accy

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Accounting

University/Undergrad

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11 Terms

1
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departmental OH rate method
uses more than one rate to allocate overhead costs to products
2
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plant wide and departmental OH rate methods
use only volume based measures such as DLH to allocate OH costs to products
3
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activity based costing
typically uses the most OH allocation rates
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activity based costing
focuses on the costs of carrying out activities
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which costing method assumes all products use OH costs in the same proportion?
plant wife OH rate method
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what is not usually used in computing plantwide OH rates?
number of quality inspections
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with ABC, OH costs should be traced to which cost object first and second
activity and then product
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activity driver
measurement associated with an activity
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cost pool
a group of costs that have the same activity drivers
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cost object
anything to which costs will be assigned
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activity
a task that causes a cost to be incurred