WGU C253 Advanced Managerial Accounting (ANSWERED)
Absorption costing - Correct Answer A costing method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed manufacturing overhead—in unit product costs. Activity - Correct Answer An event that causes the consumption of overhead resources in an organization. Activity base - Correct Answer A measure of whatever causes the incurrence of a variable cost. For example, the total cost of surgical gloves in a hospital will increase as the number of surgeries increases. Therefore, the number of surgeries is the activity base that explains the total cost of surgical gloves. Activity cost pool - Correct Answer A "bucket" in which costs are accumulated that relate to a single activity measure in an activity-based costing system. Activity measure - Correct Answer An allocation base in an activity-based costing system; ideally, a measure of the amount of activity that drives the costs in an activity cost pool. Activity variance - Correct Answer The difference between a revenue or cost item in the flexible budget and the same item in the static planning budget. An activity variance is due solely to the difference between the actual level of activity used in the flexible budget and the level of activity assumed in the planning budget. Activity-based costing (ABC) - Correct Answer A costing method based on activities that is designed to provide managers with cost information for strategic and other decisions that potentially affect capacity and therefore fixed as well as variable costs. Activity-based management (ABM) - Correct Answer A management approach that focuses on managing activities as a way of eliminating waste and reducing delays and defects. Administrative costs - Correct Answer All executive, organizational, and clerical costs associated with the general management of an organization rather than with manufacturing or selling. Allocation base - Correct Answer A measure of activity such as direct labor-hours or machine-hours that is used to assign costs to cost objects. Avo
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- Subido en
- 26 de abril de 2024
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- Escrito en
- 2023/2024
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