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Match cost terms with definitions. Some terms may be used more than once. Anything in particular for which a measurement of cost is desired (e.g.
Match cost terms with definitions. Some terms may be used more than once. Anything in particular for which a measurement of cost is desired (e.g. unit of A. Cost Objective service, program, department, organization) ?? The total of all costs associated with a cost objective Includes direct and indirect costs Costs incurred within the organization for which the manager has responsibility Costs of resources for direct production of a good or service Costs that are assigned to an organizational unit from elsewhere in the organization Costs of resources that are not used for direct production of a good or service The full cost of any cost objective divided by the number of units of service provided (e.g. cost per mile, cost per patient, cost per meal) D Costs that do not change in totals the volume of service units changes over a relevant range of activity Costs that vary directly with changes in the volume of services units over a relevant range of activity - activity represents the volume of services provided The normal range of expected activity for the cost center or organization The additional costs incurred as a result of providing one more service unit (e.g. one more meal). This is equal to variable cost UNLESS the relevant range of activity is exceeded, in which case this is equal to variable cost PLUS new fixed costs. Costs that contain both fixed and variable elements Costs that are fixed over ranges of activity that are less than the relevant range C. Marginal Costs D. Relevant Range E. Step-Fixed or Step-Variable Co F. Full Cost G. Fixed Costs H. Variable Costs 1. Mixed Costs J. Direct Costs K. Average Costs Costs that are fixed over volume intervals but do vary within the relevant range B. Indirect Costs (Overhead)
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