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Definition of Target costing
A method of costing that is concerned with managing whole-of-life costs of a product/service during the product design phase – the difference between target price (to achieve market share) and the target profit margin.
a method of determining what the cost of a
Under target costing concepts, this is the cost that would be applied to a
A method of costing in which all fixed and variable production costs are charged to products or services using an allocation base.
a cost accumulation and reporting
A methodology under which all manufacturing costs are assigned
A method of costing that uses cost pools to accumulate the cost of significant business activities and then assigns the costs from the cost pools to products or services based on cost drivers.
A relatively new method advocated for the
a process using multiple cost drivers to predict and allocate costs to products and services;
A cost allocation system that compiles costs and assigns
an extension of activitybased costing using cost-benefit analysis (based on increased customer utility) to choose the product attribute
a streamlined cost accounting method that speeds up, simplifies, and reduces accounting effort in an environment that minimizes inventory balances, requires
see variable costing
A costing methodology that only assigns direct labor and material costs
Payout ratios that are consistent with the availability of excess funds to make
the method of cost assignment that computes an average cost per equivalent
A process costing methodology that assigns the earliest
see absorption costing
hybrid costing system
a costing system combining characteristics
A method of accounting that accumulates the costs of a product/service that is produced either
job order costing system
a system of product costing used
The process of continual cost reduction that occurs after a product
life cycle costing
the accumulation of costs for activities that
An approach to costing that estimates and accumulates the costs of a product/service over
modified FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per
A method of costing for continuous manufacture in which costs for an accounting compared are compared with production for the same period to determine a cost per unit produced.
A costing methodology that arrives at an individual product cost through the calculation of average costs for large quantities of identical products.
process costing system
a method of accumulating and assigning costs to units of production in companies producing large quantities of homogeneous products;
a process that compares, to the extent possible
strict FIFO method (of process costing)
the method of cost assignment that uses FIFO to compute a cost per equivalent unit and, in transferring units from a department, keeps the
A specific level of some economic variable that a policy attempts to maintain.
Target Benefit Plan
A defined benefit plan under which the employer makes
Target cash balance
Optimal amount of cash for a firm to hold, considering the trade-off between the
A firm that is the object of a takeover by another firm.
Target payout ratio
A firm's long-run dividend-to-earnings ratio. The firm's policy is to attempt to pay out a
Target rate of return pricing
A method of pricing that estimates the desired return on investment to be achieved from the
Target zone arrangement
A monetary system under which countries pledge to maintain their exchange rates
The firm buys back its own stock from a potential bidder, usually at a substantial
A method of costing in which only variable production costs are treated as product costs and in which all fixed (production and non-production) costs are treated as period costs.
a cost accumulation and reporting method
weighted average method (of process costing)
the method of cost assignment that computes an average cost per
A method of costing that involves making continual, incremental improvements to the
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