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  2. Total absorption costing - Wikipedia

    en.wikipedia.org/wiki/Total_absorption_costing

    Absorption costing is permissible under GAAP. Traditional TAC was developed in the age of manufacturing and mostly used to arrive at the full manufacturing cost of producing goods; an alternative method of arriving at full cost known as activity-based costing (ABC) is often thought to be more appropriate for services. Absorption costing is a ...

  3. Absorption - Wikipedia

    en.wikipedia.org/wiki/Absorption

    Absorption (economics), the total demand of an economy for goods and services both from within and without Absorption (logic), one of the rules of inference Absorption costing, or total absorption costing, a method for appraising or valuing a firm's total inventory by including all the manufacturing costs incurred to produce those goods

  4. Cost accounting - Wikipedia

    en.wikipedia.org/wiki/Cost_accounting

    Standard Costing is a technique of Cost Accounting to compare the actual costs with standard costs (that are pre-defined) with the help of Variance Analysis. It is used to understand the variations of product costs in manufacturing. [6] Standard costing allocates fixed costs incurred in an accounting period to the goods produced during that period.

  5. Fixed cost - Wikipedia

    en.wikipedia.org/wiki/Fixed_cost

    Under full (absorption) costing fixed costs will be included in both the cost of goods sold and in the operating expenses. The implicit assumption required to make the equivalence between the accounting and economics terminology is that the accounting period is equal to the period in which fixed costs do not vary in relation to production.

  6. Variable costing - Wikipedia

    en.wikipedia.org/wiki/Variable_Costing

    Variable costing is a managerial accounting cost concept. Under this method, manufacturing overhead is incurred in the period that a product is produced. This addresses the issue of absorption costing that allows income to rise as production rises. Under an absorption cost method, management can push forward costs to the next period when ...

  7. Category:Costs - Wikipedia

    en.wikipedia.org/wiki/Category:Costs

    C. Carrying cost; Cost allocation; Cost analyst; Cost auditing; Cost breakdown analysis; Cost competitiveness of fuel sources; Cost curve; Cost driver; Cost object

  8. Variable cost - Wikipedia

    en.wikipedia.org/wiki/Variable_cost

    Some common examples include sales commission, labor costs, and the costs of raw materials.. For a business which produces clothing, variable cost would include the direct material, i.e., cloth, and the direct labor.

  9. Activity-based costing - Wikipedia

    en.wikipedia.org/wiki/Activity-based_costing

    Activity-based costing (ABC) is a costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each. Therefore, this model assigns more indirect costs into direct costs compared to conventional costing.