indirect material cost

  • 1indirect material — noun : material (as tools, cleaning supplies, lubricating oil) used in manufacturing processes which does not become an integral part of the product and the cost of which is not identifiable with or directly chargeable to it compare direct… …

    Useful english dictionary

  • 2Cost accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …

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  • 3Cost driver — A cost driver is the unit of an activity that causes the change of an activity cost. The Activity Based Costing (ABC) approach relates indirect cost to the activities that drive them to be incurred. In traditional costing the cost driver to… …

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  • 4Cost of poor quality — (COPQ) or poor quality costs (PQC), are defined as costs that would disappear if systems, processes, and products were perfect. COPQ was popularized by IBM quality expert H. James Harrington in his 1987 book Poor Quality Costs.[1] COPQ is a… …

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  • 5Material flow accounting — (MFA) is the study of material flows on a national or regional scale. It is therefore sometimes also referred to as regional, national or economy wide material flow analysis. Contents 1 Definition 2 Terms and Indicators 3 References 4 …

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  • 6Cost Accounting Standards — (popularly known as CAS) are a set of 19 standards and rules promulgated by the United States Government for use in determining costs on negotiated procurements. CAS differs from the Federal Acquisition Regulation (FAR) in that FAR applies to… …

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  • 7indirect labour — ➔ labour * * * indirect labour UK US (US indirect labor) noun [U] ► ACCOUNTING the workers who are not directly involved in producing goods or supplying services, or the cost of paying those workers: »Indirect labour includes all labour not… …

    Financial and business terms

  • 8cost — The opposite of revenue. An expense that reflects the price of purchasing goods, services and financial instruments. A cash cost means that cash is given up today to the purchase. Also, the purchase price of an investment, which is compared to… …

    Financial and business terms

  • 9Cost of goods sold — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …

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  • 10Cost Of Goods Sold - COGS — The direct costs attributable to the production of the goods sold by a company. This amount includes the cost of the materials used in creating the good along with the direct labor costs used to produce the good. It excludes indirect expenses… …

    Investment dictionary

  • 11cost — Synonyms and related words: afford, amount, amount to, bereavement, bring, bring in, budget, budget items, burden of expenditure, carrying charge, charge, charges, come to, come up to, cost of living, cost out, cost of living allowance, cost of… …

    Moby Thesaurus

  • 12cost of living — Synonyms and related words: budget, budget items, burden of expenditure, carrying charge, charges, consumer price index, cost, cost of living allowance, cost of living index, costs, direct costs, disbursals, distributed costs, expense, expense… …

    Moby Thesaurus

  • 13Manufacturing cost — is the sum of costs of all resources consumed in the process of making a product. The manufacturing cost is classified into three categories: direct materials cost, direct labor cost and manufacturing overhead[1]. Contents 1 Direct materials cost …

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  • 14direct material — noun : material used in manufacturing processes which becomes an integral part of the product and the cost of which is identifiable and chargeable directly to it compare indirect material * * * direct material, the raw material of a manufactured… …

    Useful english dictionary

  • 15Customer Cost — refers not only to the price of a product, but also encompasses the purchase costs as well as use costs and post use costs. Purchase costs mainly consist of the cost of searching for a product, gathering information about it and obtaining it. The …

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  • 16Explosive material — A number of 1.25lb M112 Demolition Charges, consisting of a C 4 compound, sit atop degraded weaponry scheduled for destruction An explosive material, also called an explosive, is a reactive substance that contains a great amount of potential… …

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  • 17Direct materials cost — is the cost of direct materials which can be easily identified with the unit of production. For example, the cost of glass is a direct materials cost in light bulb manufacturing[1]. The manufacture of products or goods required material as the… …

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  • 18Variable cost — Decomposing Total Costs as Fixed Costs plus Variable Costs. Variable costs are expenses that change in proportion to the activity of a business.[1] Variable cost is the sum of marginal costs over all units produced. It can also be considered… …

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  • 19MOH cost — Manufacturing overhead costs (MOH cost) are all manufacturing costs that are related to the cost object (work in process and then finished goods) but cannot be traced to that cost object in an economically feasible way. Examples include supplies …

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  • 20Production Cost — A cost incurred by a business when manufacturing a good or producing a service. Production costs combine raw material and labor. To figure out the cost of production per unit, the cost of production is divided by the number of units produced. A… …

    Investment dictionary