Solved

Match the Following Definitions to the Term That They Relate

Question 99

Matching

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

Premises:

Responses:

All departmental manufacturing costs divided by the production for the period

unit cost

All manufacturing costs not classified as direct materials or direct labor

work in process

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

finished goods

Units begun but not yet completed

cost of goods sold

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

equivalent units

Cumulative cost total

manufacturing overhead

The units completed but not yet sold

costs accounted for

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

costs to be accounted for

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

quantity schedule

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

cost schedule

Premises:

All departmental manufacturing costs divided by the production for the period

All manufacturing costs not classified as direct materials or direct labor

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

Units begun but not yet completed

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

Cumulative cost total

The units completed but not yet sold

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

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

Responses:

unit cost

work in process

finished goods

cost of goods sold

equivalent units

manufacturing overhead

costs accounted for

costs to be accounted for

quantity schedule

cost schedule

Correct Answer:

Premises:

Responses:

All departmental manufacturing costs divided by the production for the period

All manufacturing costs not classified as direct materials or direct labor

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

Units begun but not yet completed

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

Cumulative cost total

The units completed but not yet sold

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

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