Matching
Match the following terms with the definitions.
Premises:
Hybrid costing system
Job order costing system
Equivalent units of production
Process costing system
Materials consumption report
Process operations
Process cost summary
Responses:
Mass production of similar products in a continuous flow of sequential processes
Costing system that measures costs per unit upon completion of a job.
Number of units that could have been started and completed given the costs incurred during the period.
A manufacturing system that contains features of both process costing and job order costing systems.
Report of total costs charged to a department, describes its equivalent units of production achieved, and allocates costs among units worked on in the period.
Document that summarizes the materials a department uses when inventory moves continuously through the manufacturing process during a reporting period; replaces materials requisition.
System of measuring unit costs at the end of a period by combining costs per equivalent unit from each separate department.
Correct Answer:
Premises:
Responses:
Hybrid costing system
Job order costing system
Equivalent units of production
Process costing system
Materials consumption report
Process operations
Process cost summary
Premises:
Hybrid costing system
Job order costing system
Equivalent units of production
Process costing system
Materials consumption report
Process operations
Process cost summary
Responses:
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