![]() |
|
Financial Terms | |
Non-production overhead |
Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
Main Page: investment, financial advisor, payroll, accounting, business, inventory, financial, tax advisor, |
Definition of Non-production overheadNon-production overheadA general term referring to period costs, such as selling, administration and financial expenses.
Related Terms:Aggregate Production FunctionAn equation determining aggregate output as a function of aggregate inputs such as labor and capital. All or noneRequirement that none of an order be executed unless all of it can be executed at the specified price. All-or-none underwritingAn arrangement whereby a security issue is canceled if the underwriter is unable applied overheadthe amount of overhead that has been assigned to Work in Process Inventory as a result of productive activity; credits for this amount are to an overhead account cost of production reporta process costing document that economic production run (EPR)an estimate of the number equivalent units of production (EUP)an approximation of the number of whole units of output that could have been ![]() Factor of ProductionA resource used to produce a good or service. The main macroeconomic factors of production are capital and labor. Factory overheadAll the costs incurred during the manufacturing process, minus the Fixed overheadThat portion of total overhead costs which remains constant in size fixed overhead spending variancethe difference between the total actual fixed overhead and budgeted fixed overhead; fixed overhead volume variancesee volume variance Lean productionThe technique of stripping all non-value-added activities from Monetary / non-monetary methodUnder this translation method, monetary items (e.g. cash, accounts Non-cumulative preferred stockPreferred stock whose holders must forgo dividend payments when the Non-financial servicesInclude such things as freight, insurance, passenger services, and travel. Non-insured plansDefined benefit pension plans that are not guaranteed by life insurance products. Related: Non-Medical LimitThis is the maximum value of a policy that an insurance company will issue without the applicant taking a medical examination, although medical questions are invariably asked during the application process. When a non-medical issue is made through group insurance, in most cases, medical data is not requested at all. non-negativity constrainta restriction in a linear programming Non-parallel shift in the yield curveA shift in the yield curve in which yields do not change by the same Non-participating PolicyA type of insurance policy or annuity in which the owner does not receive dividends. Non-reproducible assetsA tangible asset with unique physical properties, like a parcel of land, a mine, or a Non-Smoker DiscountIn October 1996 it was announced in the international news that scientists had finally located the link between cigarette smoking and lung cancer. In the early 1980's, some Canadian Life Insurance Companies had already started recognizing that non-smokers had a better life expectancy than smokers so commenced offering premium discounts for life insurance to new applicants who have been non-smokers for at least 12 months before applying for coverage. Today, most life insurance companies offer these discounts. Non-tradablesRefer to goods and services produced and consumed domestically that are not close non-value-added (NVA) activityan activity that increases the time spent on a product or service but that does not increase its worth or value to the customer Noncash chargeA cost, such as depreciation, depletion, and amortization, that does not involve any cash outflow. Noncompetitive bidIn a Treasury auction, bidding for a specific amount of securities at the price, whatever it Nonconforming materialAny inventory item that does not match its original design noncontrollable variancethe fixed overhead volume variance; Nondiversifiability of human capitalThe difficulty of diversifying one's human capital (the unique Nondiversifiable riskRisk that cannot be eliminated by diversification. Nonmarketable SecurityA debt or equity security for which there is no posted price or bidand- Nonmarketed claimsClaims that cannot be easily bought and sold in the financial markets, such as those of Nonqualified Retirement PlanA pension plan that does not follow ERISA and Nonqualified Stock OptionA stock option not given any favorable tax treatment NonrecourseWithout recourse, as in a non-recourse lease. Nonrecurring ItemsRevenues or gains and expenses or losses that are not expected to recur NonredeemableNot permitted, under the terms of indenture, to be redeemed. NonrefundableNot permitted, under the terms of indenture, to be refundable. Nonsignificant part numberAn identifying number assigned to a part that conveys Nonsystematic risknonmarket or firm-specific risk factors that can be eliminated by diversification. Also NSF (non-sufficient funds)This appears on your statement if there are insufficient funds in your account to cover a cheque that you have written or a pre-authorized payment that you have already arranged. You will be charged a service fee for non-sufficient funds. overapplied overheada credit balance in the overhead account OverheadAny cost other than a direct cost – may refer to an indirect production cost and/or to a non-production expense. overheadany factory or production cost that is indirect to Overhead allocationThe process of spreading production overhead equitably over the volume of production of goods or services. overhead application ratesee predetermined overhead rate overhead costsoverhead generally refers to indirect, in contrast to direct, overhead efficiency variancethe difference between total budgeted overhead at actual hours and total budgeted Overhead rateThe rate (often expressed per hour) applied to the time taken to produce a product/service, used to allocate production overheads to particular products/services based on the time taken. May be calculated on a business-wide or cost centre basis. overhead spending variancethe difference between total actual overhead and total budgeted overhead at actual predetermined overhead ratean estimated constant charge per unit of activity used to assign overhead cost to production or services of the period; it is calculated by dividing total budgeted annual overhead at a selected level of volume or activity by that selected measure of volume or activity; it is also the standard overhead application rate Process flow productionA production configuration in which products are continually Production-flow commitmentAn agreement by the loan purchaser to allow the monthly loan quota to be Production overheadA general term referring to indirect costs. Production payment financingA method of nonrecourse asset-based financing in which a specified Production yield varianceThe difference between the actual and budgeted proportions standard overhead application ratea predetermined overhead rate used in a standard cost system; it can be a separate variable or fixed rate or a combined overhead rate total overhead variancethe difference between total actual overhead and total applied overhead; it is the amount of underapplied or overapplied overhead underapplied overheada debit balance in the overhead account at the end of a period; when the applied overhead amount is less than the actual overhead that was incurred UNITS OF PRODUCTIONA depreciation method that relates a machine’s depreciation to the number of units it makes each variable overhead efficiency variancethe difference between budgeted variable overhead based on actual input activity and variable overhead applied to production variable overhead spending variancethe difference between total actual variable overhead and the budgeted amount of variable overhead based on actual input activity volume variancea fixed overhead variance that represents Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |