The Average Is Also Called the

question 19

Short Answer

The average is also called the .

---

Definitions:

Activity-Based Costing

Activity-based costing is a method of allocating overhead costs to specific products or services based on the activities required to produce them, providing a more accurate reflection of the costs associated with each product or service.

Overhead Cost

The ongoing expenses of operating a business that are not directly attributable to creating the product or service, including rent, utilities, and administrative costs.

Activity Cost Pools

A grouping of all the costs associated with a particular activity, used in activity-based costing to allocate costs more accurately.

Departmental Overhead Rates

Ratios used to allocate indirect costs to different departments based on specific criteria, such as labor hours or machine use.