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a costing system that accumulates, tracks, and assigns costs for each job produced by a company
a costing system that accumulates and tracks costs for each process performed and then assigns those costs equally to each unit produced
a hybrid of job and process costing; used by companies that make products in batches
spoilage resulting from unusual circumstances, including improper handling, poorly trained employees, faulty equipment, and so on
an additional amount added to the basic hourly wage owing to overtime worked by the workers
the process of finding a logical method of assigning overhead costs to the products or services a company produces or provides
groups of overhead costs that are similar; used to simplify the task of assigning costs to products using ABC costing
a method of costing using an estimate of overhead and predetermined overhead rates instead of the actual amount of overhead
Predetermined overhead rates
used to apply overhead to products; calculated by dividing the estimated overhead for a cost pool by the estimated units of the cost driver
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