activity-based costing
41Job costing — Job Order Costing versus Process Costing = Job order costing is fundamental to managerial accounting. It differs from Process costing in that the flow of costs is traced by job instead of by process. For instance, think of an assembly line making …
42traditional costing system — Any of the systematic costing methods that prevailed before the rise of activity based costing in the 1990s. Because they rely on an essentially arbitrary allocation of indirect costs, such systems do not give managers accurate product cost… …
43traditional costing system — Any of the systematic costing methods that prevailed before the rise of activity based costing in the 1990s. Because they rely on an essentially arbitrary allocation of indirect costs, such systems do not give managers accurate product cost… …
44absorption costing — full absorption costing; = total absorption costing The cost accounting system in which the overheads of an organization are charged to the production by means of the process of absorption. Costs are first apportioned to cost centres, where they… …
45absorption costing — full absorption costing; total absorption costing The cost accounting system in which the overheads of an organization are charged to the production by means of the process of absorption Costs are first apportioned to cost centres, where they are …
46Total absorption costing — (TAC) is a method of Accounting cost which entails the full cost of manufacturing or providing a service. This includes not just the costs of materials and labour, but also of all manufacturing overheads (whether ‘fixed’ or… …
47facility-sustaining activity — In activity based costing, an activity that is performed to sustain the organization as a whole. Examples include security, safety, maintenance, and plant management. It is not possible to identify these costs with particular products …
48facility-sustaining activity — In activity based costing, an activity that is performed to sustain the organization as a whole. Examples include security, safety, maintenance, and plant management. It is not possible to identify these costs with particular products …
49Contribution margin-based pricing — maximizes the profit derived from an individual product, based on the difference between the product s price and variable costs (the product s contribution margin per unit), and on one’s assumptions regarding the relationship between the… …
50Space-based solar power — Left: Part of the solar energy is lost on its way through the atmosphere by the effects of reflection and absorption. Right: Space based solar power systems convert sunlight to microwaves outside the atmosphere, avoiding these losses, and the… …
