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