Service Department Definition
Shamsa Rafique Service Department Definition: A department that provides support or assistance to operating departments and that does not engage directly in production or in other operating activities of an organization.
Under-Applied Overhead Definition
Sana Ahmed Under-Applied Overhead Definition: A debit balance in the Manufacturing Overhead account that arises when the amount of overhead cost actually incurred is greater than the amount of overhead cost applied…
Selling and Administrative Expense Budget Definition
Selling and Administrative Expense Budget Definition: Selling and administrative budget is a detailed schedule of planned expenses that will be incurred in areas other than manufacturing during a budget period.
Sell or Process Further Decision Definition
Sell or Process Further Decision Definition: A decision as to whether a joint product should be sold at the split-off point or processed further and sold at a later time…
Self-Imposed Budget Definition
Self-Imposed Budget Definition: A method of preparing budgets in which managers prepare their own budgets. These budgets are then reviewed by the manager's supervisor, and any issues are resolved by…
Segment Margin Definition
Segment Margin Definition: The amount computed by deducting the traceable fixed costs of a segment from the segment's contribution margin. It represents the margin available after a segment has covered…
Segment Definition
Segment Definition: Any part of an organization that can be evaluated independently of other parts and about which the manager seeks financial data. Examples include a product line, a sales…
Second Stage Allocation Definition
Second Stage Allocation Definition: The process by which activity rates are used to apply costs to products and customers in activity-based costing.
Screening Decision Definition
Screening Decision Definition: A decision as to whether a proposed investment meets some preset standard of acceptance or not.
Scientific Management Definition
Scientific Management Definition: Scientific management means the use of scientific methods to determine the "one best way" for a job to be done.
Scatter Graph Method Definition
Scatter Graph Method Definition: A method of separating a mixed cost into its fixed and variable elements. Under this method, a regression line is fitted to an array of plotted…
Sales Mix Definition
Sales Mix Definition: The relative proportions in which a company's products are sold. Sales mix is computed by expressing the sales of each product as a percentage of total sales.
Overhead Application Definition
Overhead Application Definition: The process of charging manufacturing overhead cost to job cost sheets and to the Work in Process account.
Plan-do-check-act (PDCA) Cycle Definition
Rubab Ali Plan-do-check-act (PDCA) Cycle Definition: A systematic approach to continuous improvement that applies the scientific method to problem solving. This is only definition of plan do check act cycle (PDCA) Click…
Over-applied Overhead Definition
Over-applied Overhead Definition: Over-applied overhead is a credit balance in the Manufacturing Overhead account that arises when the amount of overhead cost applied to Work in Process is greater than…
Perpetual Inventory System Definition
Perpetual Inventory System Definition: Perpetual inventory system may be defined as a method of recording stores balances after every receipt and issue to facilitate regular checking and to obviate closing…
Sales Budget Definition
Sales Budget Definition: Sales budget is a detailed schedule showing the expected sales for coming periods; these sales are typically expressed in both dollars and units.
Periodic Inventory System Definition
Periodic Inventory System Definition: Periodic inventory system is that does not require a day-to-day record of inventory changes. Costs of materials used and costs of goods sold cannot be calculated…