Lesson 2: Manufacturing Product Costs

Glossary - Know Your Words

Accounting is the language of business. To become proficient in accounting, it's essential to understand the terminology associated with each concept. Every lesson introduces specific terms, and we encourage you to take the necessary time to study each one carefully. Our glossary allows you to learn definitions in the context of related terms. It's a simple yet powerful tool that our university students have trusted for years to master accounting.

Job Cost Record or Sheet
Job Order Cost System
Manufacturing Overhead Account
Manufacturing Overhead Budget
Materials Requisition
Overhead Application
Predetermined Overhead Rate
Process Costing
Time Sheet