Matching
Match the following definitions with the correct term from the list provided.
Premises:
The rate at which the estimated cost of overhead is charged to each job
Acquiring necessary resources for the manufacturing process.
A form that describes the item and quantity needed and shows the job or purpose
A record of all manufacturing costs charged to a specific job
Form used to record hours worked and jobs performed
The result of actual overhead costs exceeding applied overhead
A measure of what costs should be in an efficient operation
Using material, labor, and services on the factory floor
A record showing details of receipts and issues for a type of raw material
A cost accounting system whereby unit costs of manufactured items are determined by totaling unit costs in each production department
A ledger containing the raw materials ledger cards
A specific order for a specific batch of manufactured items
A subsidiary ledger that contains a record for each overhead item
An inventory system that tracks the inventories on hand at all times
A cost accounting system that determines the unit cost of manufactured items for each separate production order
The result of applied overhead exceeding the actual overhead costs
A ledger containing a record for each of the different types of finished products
An inventory system in which raw materials are ordered so they arrive just in time to be placed into production
Production order
A ledger containing the job order cost sheets
Responses:
Finished goods subsidiary ledger
Overhead application rate
Perpetual inventory system
Overapplied overhead
Production
Raw materials ledger card
Raw materials subsidiary ledger
Manufacturing overhead ledger
Procurement
Just-in-time system
Standard costs
Time ticket
Job order cost sheet
Process cost accounting
Job order cost accounting
Job order
Work in process subsidiary ledger
Materials requisition
Production order
Underapplied overhead
Correct Answer:
Premises:
Responses:
The rate at which the estimated cost of overhead is charged to each job
Acquiring necessary resources for the manufacturing process.
A form that describes the item and quantity needed and shows the job or purpose
A record of all manufacturing costs charged to a specific job
Form used to record hours worked and jobs performed
The result of actual overhead costs exceeding applied overhead
A measure of what costs should be in an efficient operation
Using material, labor, and services on the factory floor
A record showing details of receipts and issues for a type of raw material
A cost accounting system whereby unit costs of manufactured items are determined by totaling unit costs in each production department
A ledger containing the raw materials ledger cards
A specific order for a specific batch of manufactured items
A subsidiary ledger that contains a record for each overhead item
An inventory system that tracks the inventories on hand at all times
A cost accounting system that determines the unit cost of manufactured items for each separate production order
The result of applied overhead exceeding the actual overhead costs
A ledger containing a record for each of the different types of finished products
An inventory system in which raw materials are ordered so they arrive just in time to be placed into production
Production order
A ledger containing the job order cost sheets
Premises:
The rate at which the estimated cost of overhead is charged to each job
Acquiring necessary resources for the manufacturing process.
A form that describes the item and quantity needed and shows the job or purpose
A record of all manufacturing costs charged to a specific job
Form used to record hours worked and jobs performed
The result of actual overhead costs exceeding applied overhead
A measure of what costs should be in an efficient operation
Using material, labor, and services on the factory floor
A record showing details of receipts and issues for a type of raw material
A cost accounting system whereby unit costs of manufactured items are determined by totaling unit costs in each production department
A ledger containing the raw materials ledger cards
A specific order for a specific batch of manufactured items
A subsidiary ledger that contains a record for each overhead item
An inventory system that tracks the inventories on hand at all times
A cost accounting system that determines the unit cost of manufactured items for each separate production order
The result of applied overhead exceeding the actual overhead costs
A ledger containing a record for each of the different types of finished products
An inventory system in which raw materials are ordered so they arrive just in time to be placed into production
Production order
A ledger containing the job order cost sheets
Responses:
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