3015475
Descripción
Fichas por Ms. Cassie Weitzenkamp, CPA, MPA, actualizado hace más de 1 año
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Creado por Ms. Cassie Weitzenkamp, CPA, MPA
hace más de 9 años
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| Pregunta | Respuesta |
| Applied Overhead | The dollar amount of overhead assigned to Work in Process inventory using the activity measure that was selected to develop the overhead rate |
| Under-applied overhead | Occurs when the overhead applied to Work in Process inventory is less than the actual overhead cost |
| Over-applied overhead | Occurs when the overhead applied to Work in Process inventory is more than actual overhead cost |
| Theoretical Capacity | The estimated maximum potential activity for a specified time |
| Practical Capacity | Reducing theoretical capacity by ongoing, regular operating interruptions (such as holidays, downtime, and start-up time) |
| Normal Capacity | Consideration of historical and estimated future production levels and the cyclical fluctuations |
| Expected Capacity | A short-run concept that represents the firm's anticipated activity level for the coming period based on projected product demand |
| High-low Method | Analyzes a mixed cost by first selecting the highest and lowest levels of activity in a data set if these two points are within the relevant range |
| Outliers | Non-representative or abnormal observations |
| Flexible budget | A planning document that presents expected variable and fixed costs at different activity levels |
| Absorption Costing/ Full Costing | Treats the costs of all manufacturing components (direct material, direct labor, variable overhead, and fixed overhead) as inventoriable, or product, costs in accordance with GAAP |
| Functional Classification | A group of costs that were incurred for the same principal purpose |
| Variable Costing/ Direct Costing | A cost accumulation method that includes only direct material, direct labor, and variable overhead as product costs |
| Product Contribution Margin | Sales minus variable cost of goods sold |
| Contribution Margin | The difference between total revenues and total variable expenses |
| Volume Variance | Reflects the monetary impact of a difference between the budgeted capacity used to determine the predetermined fixed overhead rate and the actual capacity at which the company opperated |
| Phantom Profits | Temporary absorption costing profits caused by producing more inventory than is sold |
| Least Squares Regression Analysis | A statistical technique that analyzes the relationship between independent (causal) and dependent (effect) variables |
| Dependent Variable | Unknown variable |
| Independent Variable | Known value |
| Simple Regression | Uses one independent variable to predict the dependent variable based on the formula for a straight line: y = a + bX |
| Multiple Regression | Two or more independent variables are used to predict the dependent variable |
| Regression Line | Any line that goes through the means (or averages) of the independent and dependent variables in a set of observations |
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