cost absorption
11absorption — A term used by real estate lenders and developers to describe the process of renting up newly built or renovated office space or apartments. The term absorption period is often used to describe the period of time necessary for absorption.… …
12cost accounting — The recording and analysis of *costs for management information purposes. Cost accounting often focuses on the costing of *units of inventory, for which there are several methodologies, including *absorption costing, *activity based costing, and… …
13cost center — An activity, unit, or individual within an organization with which costs can be identified. In contrast to a *profit center, a cost center usually incurs costs only, and does not generate income. Cost centers are often used for cost control and… …
14cost driver — An activity or factor with a *quantifiable relation to costs incurred in the achievement of an organization’s objectives. For example, the number of hours for which a production machine operates may be related to production costs in a… …
15absorption costing — A costing method that allocates all *manufacturing costs to *units of inventory or other measures of output. Normally required by most systems of *Generally Accepted Accounting Principles, absorption costing takes account of both *direct (or… …
16absorption costing — noun a method of calculating the cost of a product or enterprise by taking into account overheads as well as direct costs …
17absorption account — An account opened when a system of double entry cost accounting is in operation to show the amount of overhead that has been absorbed by the production …
18ALIYAH AND ABSORPTION — GENERAL SURVEY Introduction Aliyah, ascension or going up, is the coming of Jews as individuals or in groups, from exile or diaspora to live in the Land of Israel. Those who go up for this purpose are known as olim – a term used in the Bible for… …
19Total 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… …
20direct labour cost — direct wages Expenditure on wages paid to those operators who are directly concerned with the production of a product, service, or cost unit. It is one of the cost classifications making up the prime cost of a cost unit; it is quantified as the… …
