Match the terms with the definitions.
-The ledger in which details of the different types of factory overhead costs are accumulated.

Question

Quizplus · Accepted Answer

The factory overhead subsidiary ledger is where details of the different types of factory overhead costs are accumulated.

Answer: B
 The process cost system is a method of costing used to determine the cost of producing similar products in large quantities.

Answer: C
 Overapplied overhead occurs when the actual overhead cost is less than the amount applied to production.

Answer: D
 Direct materials are the raw materials that are physically and directly incorporated into a product.

Answer: E
 A materials requisition is a document that authorizes the release of raw materials from the storeroom to the production floor.

Answer: G
 Finished Goods Inventory is the inventory of completed products waiting to be sold.

Answer: H
 The materials ledger is a subsidiary ledger that tracks the cost and quantity of each type of raw material that is purchased and used in production.

Answer: I
 The job order cost system is a method of costing used to determine the cost of producing a specific product or service.

Answer: J
 Indirect materials are materials used in production that cannot be traced to a specific product or service.

Answer: K
 A job cost sheet is a document used to track the costs of producing a specific product or service.

Match the Terms with the Definitions