(See related pages)
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| Absorption costing | A costing method that includes all manufacturing costs-direct materials, direct labor, and both
variable and fixed manufacturing overhead-in unit product costs. Absorption costing is also referred to as the full cost
method. (See page(s) p. 280) |
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| Direct costing | Another term for variable costing. See Variable costing. (See page(s) p. 280) |
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| Fixed manufacturing overhead cost deferred in inventory | The portion of the fixed manufacturing overhead cost of a period that goes into inventory under the
absorption costing method as a result of production exceeding sales. (See page(s) p. 282) |
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| Fixed manufacturing overhead cost released from inventory | The portion of the fixed manufacturing overhead cost of a prior period that becomes an expense of the
current period under the absorption costing method as a result of sales exceeding production. (See page(s) p. 288) |
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| Full cost | See Absorption costing. (See page(s) p. 280) |
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| Marginal costing | Another term for variable costing. See Variable costing. (See page(s) p. 280) |
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| Variable costing | A costing method that includes only variable manufacturing costs-direct materials, direct labor, and
variable manufacturing overhead-in unit product costs. Also see Marginal costing or Direct costing. (See page(s) p. 280) |