GFEBS L230E Cost Management Process Overview 100% Solved

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GFEBS L230E Cost Management Process Overview 100% Solved Direct Cost ✔✔A cost such as labor, materials, or supplies that can be traced directly to producing a specific output of an organization ... , product, and service Indirect Cost ✔✔A cost that cannot be traced directly to a specific organization, product, and/or service output They often are allocated on a predetermined basis and generally are synonymous with overhead costs such as general and administrative expenses. Funded Cost ✔✔The value of goods or services received because of an obligation of funds by the organization performing the work Unfunded Cost ✔✔A cost that is financed by another organization's or activity's appropriations. Variable cost ✔✔A cost that changes with a change in output fixed cost ✔✔A cost that remains the same regardless of a change in output sunk cost ✔✔A cost incurred in the past that will not be affected by any present or future decision incremental cost ✔✔The increase or decrease in cost that would result from a decision to increase or decrease output levels avoidable cost ✔✔A cost incurred on an object that will no longer be incurred due to a decision to change the output. unavoidable cost ✔✔A cost incurred on an object that will be incurred regardless of the decision to change Activity Type ✔✔An Activity Type is the cost master data that represents a group of resources within a Cost Center. These resource groups have capacity and a unit of measure such as: labor hours, machine hours, square footage, etc. Activity Types are used to produce the products and services of the organization. Cost Center ✔✔A Cost Center is a re [Show More]

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