Matching
Match the correct term with the statement that describes it.
Premises:
equivalent units
direct labor and factory overhead
cost of production report
transferred-in costs
process costing
direct labor and direct materials
job costing
FIFO method
Responses:
Conversion costs
Prime costs
Costs incurred in a previous process that are carried forward as part of the product’s cost when it moves to the next department
Costing system used by a company producing computer chips
Summary of the activity in a processing department for a specific period
A process costing method that costs each period’s equivalent units of work with that period’s costs per equivalent unit
Costing system used by a company producing by a company producing custom window treatments
Measure of the work done during a production period, expressed in terms of fully complete units of output
Correct Answer:
Premises:
Responses:
equivalent units
direct labor and factory overhead
cost of production report
transferred-in costs
process costing
direct labor and direct materials
job costing
FIFO method
Premises:
equivalent units
direct labor and factory overhead
cost of production report
transferred-in costs
process costing
direct labor and direct materials
job costing
FIFO method
Responses:
Related Questions
Q1: Just-in-time operations attempt to significantly reduce<br>A) profits.<br>B)
Q16: Department W had 2,400 units, one-third completed
Q87: A form prepared periodically for each processing
Q93: In a just-in-time system, processing functions are
Q102: Which of the following is not a
Q106: The cost of materials transferred into the
Q107: Department J had no work in process
Q129: If a company uses a process costing
Q144: In a process costing system, costs flow
Q150: Using the FIFO method, the cost of