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