Solved

Match the Following Definitions to the Term That They Relate

Question 84

Matching

Match the following definitions to the term that they relate to.

Premises:

Responses:

Costs of units transferred out plus the cost of the ending work in process units

costs to be accounted for

Summarizes total costs to be accounted for and total costs accounted for

unit cost

All manufacturing costs not classified as direct materials or direct labor

quantity schedule

The units completed but not yet sold

cost schedule

Cumulative cost total

manufacturing overhead

Estimated number of units that could have been started and completed with the same effort and costs incurred in the department during the same time period

cost of goods sold

The total of the number of units sold times the average cost for each

work in process

Summarizes total units to be accounted for and total units accounted for

finished goods

All departmental manufacturing costs divided by the production for the period

costs accounted for

Units begun but not yet completed

equivalent units

Premises:

Costs of units transferred out plus the cost of the ending work in process units

Summarizes total costs to be accounted for and total costs accounted for

All manufacturing costs not classified as direct materials or direct labor

The units completed but not yet sold

Cumulative cost total

Estimated number of units that could have been started and completed with the same effort and costs incurred in the department during the same time period

The total of the number of units sold times the average cost for each

Summarizes total units to be accounted for and total units accounted for

All departmental manufacturing costs divided by the production for the period

Units begun but not yet completed

Responses:

costs to be accounted for

unit cost

quantity schedule

cost schedule

manufacturing overhead

cost of goods sold

work in process

finished goods

costs accounted for

equivalent units

Correct Answer:

Premises:

Responses:

Costs of units transferred out plus the cost of the ending work in process units

Summarizes total costs to be accounted for and total costs accounted for

All manufacturing costs not classified as direct materials or direct labor

The units completed but not yet sold

Cumulative cost total

Estimated number of units that could have been started and completed with the same effort and costs incurred in the department during the same time period

The total of the number of units sold times the average cost for each

Summarizes total units to be accounted for and total units accounted for

All departmental manufacturing costs divided by the production for the period

Units begun but not yet completed