|Phantom bill of material
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Definition of Phantom bill of material
Phantom bill of material
A bill of materials for a subassembly that is not normally
General term for a document demanding payment.
A contract between the exporter and a transportation company in which the latter agrees to
Very short maturity bills that the Treasury occasionally sells because its cash
An instrument evidencing the obligation of a seller to deliver securities sold to the buyer.
billing system in which the invoices are sent off at the time of customer orders are all separate
Computer-based systems that plan backward from the production schedule
As used in connection with project financing, an agreement to furnish a
billing method in which the sales for a period such as a month (for which a customer also
Special bills that the Treasury occasionally issues that mature on corporate
Debt obligations of the U.S. Treasury that have maturities of one year or less. Maturities for Tbills
U.S. government debt with a maturity of less than a year.
A listing of all the materials and quantities that go to make up a completed product.
Unprocessed goods bought for manufacture, part of inventory.
a document that contains information about
a readily identifiable part of a product; the cost of such a part
material price variance
total actual cost of material purchased
material quantity variance
(actual quantity X standard price) - (standard quantity allowed standard price);
material requisition form
a source document that indicates
material mix variance
(actual mix X actual quantity X standard price) - (standard mix X actual quantity X standardprice);
materials requirements planning (MRP)
a computerbased information system that simulates the ordering and
material yield variance
(standard mix X actual quantity X standard price) - (standard mix X standard quantity X standard price);
a temporary absorption costing profit caused
Short-term U.S. government security issued at a discount from
Bill of materials
An itemization of the parts and subassemblies required to create a
Direct materials cost
The cost of all materials used in a cost object, such as finished goods.
Direct materials mix variance
The variance between the budgeted and actual mixes of
The proportional size of a financial misstatement. It can be construed as
Material requirements planning (MRP)
A computer-driven production methodology
Materials price variance
The difference between the actual and budgeted cost to
Materials quantity variance
The difference between the actual and budgeted quantities
Raw materials inventory
The total cost of all component parts currently in stock that
See Treasury bill.
A short-term (less than one year) government discount bond.
Bill and Hold Practices
Products that have been sold with an explicit agreement that delivery
Cost Plus Estimated Earnings in Excess of Billings
Revenue recognized to date under the percentage-of-completion method in excess of amounts billed. Also known as unbilled accounts
A characterization of the magnitude of a financial statement item's effect on a
Unbilled Accounts Receivable
Revenue recognized under the percentage-of-completion
Advance material request
Very early orders for materials before the completion
Bill of materials (BOM)
A listing of all parts and subassemblies required to produce one
Breeder bill of materials
A bill of material that accounts for the generation and
Inventory that has been physically marked as being for a
Indented bill of material
A bill of material reporting format under which successively
Material requirements planning
A computerized system used to calculate material
Material review board
A company committee typically comprising members representing
A document listing the quantities of specific parts to be withdrawn
Matrix bill of material
A bill of materials chart listing the bills for similar products,
Modular bill of material
A bill of material format in which components and subassemblies
Multilevel bill of material
An itemization of all bill of material components, including
Any inventory item that does not match its original design
The waste materials resulting from a production process.
Base-level items used by the manufacturing process to create either
Repair bill of material
A special bill itemizing changes needed to refurbish an
material that has been reworked and returned to stock.
material that has been reserved for a specific purpose.
Single-level bill of material
A list of all components used in a parent item.
Summarized bill of materials
A bill of materials format showing the grand total
Short-term government security.
online bill payment
The electronic payment of a bill via the Internet. The specified amount of the bill is electronically debited from your account.
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