A markup method used in the automobile service and repair industry based on Activity Based Costing where the basic concept is to find and know the amount of money that must be generated for each hour of technician activity to cover the costs of doing business and...
An assessment of how far along a task has progressed as a percentage of its total duration. As the assessment is very often subjective, it should not be relied upon as a firm basis for quantitative analysis of a project’s progress. A better approach is the use of...
Material costs are increased by a predetermined percent to recover indirect G&A (general and administrative) overhead costs on materials. Direct labor costs are increased by another predetermined percent to recover indirect G&A costs on labor. Equipment costs,...
To recover indirect G&A (general and administrative) overhead, material costs (with tax) are usually marked up 10%, equipment costs are marked up 25%, subcontractors costs are marked up 5% and direct labor (including labor burden) is marked up by a calculated...
The process of identifying, measuring, analyzing, interpreting, and communicating information for the pursuit of an organization’s goals. The key difference between managerial and financial accounting is that managerial accounting information is aimed at helping...
A listing and description of activities that provides a common/standard definition of activities across the organization. An activity dictionary can include information about an activity and/or its relationships, such as activity description, business process,...