Summary: Samenvatting Fidm
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1 Eigen flashcards lecture 1, 2, 3
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Indirect costs are related to a particular cost object but cannot be traced to it because
- cost element is shared among cost objects (common costs)
- physically impossible to trace
- not cost effective to trace -
Criticism traditional allocation method
- Assumes all overhead is volume related
- Organization-wide or departmental rates all related to single activity measure
- Departmental focus, not process focus
- Focus on costs incurred, not cause of costs -
Over-absorbed overhead/over-recovery of overhead
Actual overhead < absorbed overhead -
Cost allocations act as
an internal tax system -
Joint costing: Physical measurement method
Determine weighing of joint cost allocated accordingly with production in kg -
Joint costing: Sales value at split-off method
Determine weighing of joint cost allocated accordingly with sales value -
Variable costing (=direct costing/marginal costing)
Excludes fixed costs from product costs and writes them off in the year that the costs are incurred.
Operating income = sales x (price - full costs) + (actual production - normal production) x fixed OH rate -
Dysfunctional effect under absorption costing:
- Managers can defer recognition of fixed manufacturing costs by building ending inventory
- Incentive to over-produce -
For which type of costing does level of sales determine break-even point
Variable costing -
Examples batch-related activities
set-ups, purchase ordering and first-item inspection activities
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Eigen flashcards FIDM - Eigen flashcards
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