| A) | 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.
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| B) | A costing method that includes only variable manufacturing costs—direct materials, direct labour, and variable manufacturing overhead—in the cost of a unit of product.
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| C) | All costs that are expensed on the income statement in the period in which they are incurred or accrued. Selling (marketing) and administrative expenses are period costs.
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| D) | All costs that are involved in the purchase or manufacture of goods. In the case of manufactured goods, these costs consist of direct materials, direct labour, and manufacturing overhead. They are also called inventoriable costs.
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| E) | 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.
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| F) | A system in the lean production model where production is not initiated until a customer has ordered a product.
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| G) | Another name for variable costing.
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| H) | Another name for variable costing.
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