Vocab for test 2/29
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | A costing method that includes all manufacturing costs- direct materials, direct labor, and both variable and fixed manufacturing overhead-in the cost of a product.
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| Allocation base- | show 🗑
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| show | A document that shows the quantity of each type of direct material required to make a product
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| Cost Driver- | show 🗑
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| show | The manufacturing costs associated with the goods that were finished during the period
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| show | Units of product that have been completed but not yet sold to customers
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| show | A form that records the materials, labor, and manufacturing overhead costs charged to a job
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| Job-order costing- | show 🗑
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| Materials requisition form- | show 🗑
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| show | A costing system with multiple overhead cost pools and a different predetermined overhead rate for each cost pool,rather than a single predetermined overhead rate for the entire company. Each production department may be treated as a separate OH cost
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| show | a costing system in which overhead costs are applied to a hob by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job
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| show | A credit balance in the Manufacturing Overhead account that occurs when the amount of overhead cost applied to Work in Process exceeds the amount of overhead cost actually incurred during a period
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| show | the process of charging manufacturing overhead cost to job cost sheets and to the work in Process account
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| show | a single predetermined overhead tare that is used throughout a plant
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| show | a rate used to charge MOH cost to jobs that is established in advance for each period. It is computed by dividing the estimated total manufacturing overhead cost by the est total amount of the allocation base for the period
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| show | any materials that go into the final product
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| schedule of cost of goods manufactured | show 🗑
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| show | a document that is used to record the amount of time an employee spends on various activities
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| underapplied overhead | show 🗑
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| show | Units of product that are only partially complete and will require further work before they are ready for sale to the customers
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Created by:
Sara K
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