Cost Accounting Topics

Podcasts

• Accounting allocation the easy way

• How to derive a product cost

• Target costing

Cost Accounting Overview

• Accounting for manufacturing businesses

• Alternative product costing methods

• Cost accounting

• Cost accounting basics

• Cost accounting formulas

• Cost allocation

• Cost classification

• Cost concepts in decision making

• Cost structure

• Flow of costs

• Managerial accounting formulas

• Manufacturing cost accounting

• The advantages of cost accounting

• The difference between cost accounting and financial accounting

• The difference between fixed and variable costs

• The difference between product costs and period costs

• The functions of managerial accounting

Cost of Goods Sold

• Conversion costs

• Cost of goods manufactured schedule

• Cost of goods sold journal entry

• Direct material

• Direct material cost

• Direct materials

• Examples of direct costs

• Factory cost

• How to calculate the cost of goods sold

• Indirect factory costs

• Indirect manufacturing costs

• Is the cost of goods sold an expense?

• Material cost

• Prime costs

• Product cost

• The cost of sales

• Total cost formula

• Total manufacturing cost

• Total variable cost

Cost of Labor

• Direct labor

• Direct labor cost

• Fringe benefit rate

• How to calculate a labor rate

• Indirect labor

• Standard labor rate

• The cost of labor

• The difference between direct and indirect labor

Overhead Application

• Absorbed overhead

• Actual overhead

• Allocation base

• Allocation rate

• Applied overhead

• Batch-level activities

• Batch-level cost

• Burden rate

• Corporate overhead

• Cost allocation methods

• Departmental overhead rate

• Departmental rate

• Direct allocation method

• Expense allocation

• Factory burden

• Factory overhead

• Fixed manufacturing overhead applied

• Fixed manufacturing overhead incurred

• Fixed overhead

• Homogeneous cost pool

• Indirect overhead

• Manufacturing overhead

• Manufacturing overhead rate

• Overabsorbed

• Overapplied overhead

• Overhead

• Overhead absorption

• Overhead allocation

• Overhead application

• Overhead incurred

• Peanut-butter costing

• Plantwide overhead rate

• Pool rate

• Predetermined overhead rate

• Reciprocal method

• Reciprocal services

• Sequential method

• Stand-alone cost method

• Step allocation method

• The difference between actual overhead and applied overhead

• The overhead rate

• The rate of absorption

• The under absorption and over absorption of overhead

• Traditional costing

• Underapplied overhead

• Variable overhead

• Volume-based allocation

• Weighted cost driver

Activity Based Costing

• Activity base

• Activity based costing

• Activity based management

• Activity cost assignment

• Activity cost driver

• Activity cost pool

• Activity dictionary

• Activity driver

• Activity driver analysis

• Cost driver

• Cost element

• Cost hierarchy

• Cost object (2)

• Cost pool

• First stage allocation

• Primary cost pool

• Product-level activity

• Secondary cost pool

• Stage 1 allocation

• Stage 2 allocation

• Surrogate activity driver

• Unit-level activity

Cost Assignment Systems

• Absorption costing

• Actual costing

• Average cost method

• Backflush costing

• Contract costing

• Direct costing

• Extended normal costing

• Full costing

• Hybrid costing system

• Normal costing

• Operation costing

• The difference between marginal costing and absorption costing

• The difference between normal costing and standard costing

• Variable costing

Job Costing

• Cost sheet

• Job cost record

• Job cost sheet

• Job costing

• Job order cost sheet

• Job order costing system

• The difference between job costing and process costing

• The job costing system

Process Costing

• Equivalent units of production

• Process costing

• Process costing system

• Transferred-in costs

Standard Costing

• Is standard costing allowable in GAAP and IFRS?

• Standard cost card

• Standard costing

• Standard hours allowed

• When to update standard costs

By-Products and Joint Products

• By-product costing and joint product costing

• Joint cost

• Joint products

• Relative sales value method

• Sell or process further decision

• Separable costs

• Split-off point

Scrap and Spoilage

• Abnormal spoilage

• Normal spoilage

• Scrap

• Shrinkage

Total Cost Concept

• Life cycle costing

• Lifetime cost

Oil and Gas Costing

• Full cost method

• Successful efforts method

Types of Costs

• Accounting cost

• Actual cost

• Allowable costs

• Applied cost

• Average cost

• Average total cost

• Avoidable cost

• Batch cost

• Capacity costs

• Capitalized cost

• Committed cost

• Common cost

• Compliance cost

• Consumed cost

• Controllable costs

• Current cost

• Deferred cost

• Deferred expense

• Differential cost

• Direct cost (2)

• Direct expense

• Discretionary cost

• Discretionary fixed cost

• Estimated cost

• Examples of fixed costs

• Examples of variable costs

• Expired cost

• Explicit cost

• Fixed charges

• Fixed cost

• Fixed expenses

• Full product cost

• Historical cost

• Imputed cost

• Incremental cost

• Incurred cost

• Indirect costs

• Indirect expenses

• Input cost

• Irrelevant costs

• Legacy cost

• Manufacturing costs

• Manufacturing support costs

• Marginal cost

• Mixed cost

• Mixed expenses

• Non-controllable cost

• Non-manufacturing overhead costs

• Original cost

• Overhead costs

• Past cost

• Period costs

• Postponable cost

• Production costs

• Redistributed cost

• Relevant cost

• Replacement cost

• Revenue expenditure

• Semi-fixed cost

• Semi-variable cost

• Setup cost

• Standard cost

• Step cost

• Step fixed cost

• Step variable cost

• Sunk cost

• Support costs

• The difference between prime costs and conversion costs

• Total cost

• Total labor cost

• Traceable costs

• Unavoidable cost

• Uncontrollable cost

• Unexpired cost

• Unit cost

• Variable cost (2)

• Variable expense

Miscellaneous Cost Accounting Topics

• Cost behavior

• Cost center

• Cost depletion

• Cost function

• Downward demand spiral

• High-low method

• How to calculate cost per unit

• How to calculate unit product cost

• Kaizen costing

• Scattergraph method

• Target costing

• The difference between cost and expense

• The difference between direct costs and indirect costs

• The difference between gross cost and net cost

• The difference between implicit and explicit costs

• The formula for calculating efficiency

• Total fixed cost formula

Related Definitions

• Absorb

• Administrative overhead

• Allocation

• Cost

• Cost accounting

• Cost assignment

• Cost accumulation

• Cost incurred

• Costing

• Costing system

• Full cost

• Machine-hour

• Normal activity

• Overhead

• Service department

• Special order