assigning indirect costs to specific job is completed by

Starting a unit of product into the beginning of a process and its completion. The subsidiary ledger that contains the individual accounts for each kind of commodity or product produced.Īn account in the work–in–process subsidiary ledger in which the costs charged to a particular job order are recorded.Ī type of cost accounting system that provides for a separate record of the cost of each particular quantity of product that passes through the factory.Ī business philosophy that focuses on eliminating time, cost, and poor quality within manufacturing processes. The cost of finished products on hand that have not been sold.

The cost of materials that are an integral part of the finished product.Īn information technology that allows different business organizations to use computers to communicate orders, relay information, and make or receive payments.Ī philosophy that grants employees the responsibility and authority to make their own decisions about their operations.Ī system used to plan and control internal and supply chain operations.Īll of the costs of operating the factory except for direct materials and direct labor. Wages of factory workers who are directly involved in converting materials into a finished product. The cost of the manufactured product sold. The process of assigning indirect costs to a cost object, such as a job. The combination of direct labor and factory overhead costs.Ī payment of cash (or a commitment to pay cash in the future) for the purpose of generating revenues.Ī system used to accumulate manufacturing costs for decision–making and financial reporting purposes. The account in the general ledger that summarizes the balances of the accounts in the subsidiary ledger. A measure of activity that is related to changes in cost and is used in the denominator in calculating the predetermined factory overhead rate to assign factory overhead costs to cost objects.Ĭost accumulations that are associated with a given activity, such as machine usage, inspections, moving, and production setups.Īn accounting framework based on determining the cost of activities and allocating these costs to products using activity rates.

Assigning indirect costs to specific job is completed by