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17 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Process or Job Order Accounting Firm |
Job Order |
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Process Cost or Job Order Cost Gasoline Producer |
Process Cost |
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Process or Job Order Airplane Manufacturer |
Job Order |
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Process or Job Order
Pharmaceuticals Company |
Process Cost |
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Process or Job Order Computer Chip Manufacturer |
Process Cost |
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The complete number of units that could have been finished within a given accounting period worth respect to direct materials and conversion costs is the |
Equivalent Units |
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Direct labor and factory overhead are referred to as |
Conversion Costs |
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The equivalent unit cost for direct materials is |
$80.00 |
$80,000÷direct materials= |
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The equivalent unit cosy for conversion is |
$55.55 |
Add direct labor costs and f.o.h and divide by conversion equivalent units= |
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The periodic report prepared for each processing department, summarizing 1) the units for which the department is responsible and their disposition and 2) the costs charged to the department and their allocation, is termed the |
Cost of Production Report |
Another word for price plus factory term |
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The method of inventory costing that assumes the unit product costs should be determined separately for each period in the order in which the costs were incurred is |
FIFO |
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A process manufacturer produces products that are indistinguishable from each other using a(n) ________ production process. |
Continuous |
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The number of units in production during a period, whether completed or not, are known as |
Whole Units |
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Repair and maintenance of manufacturing equipment are __________ activities. |
Service |
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Utility costs and depreciation on equipment are considered _________ costs. |
F.O.H |
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The ________ is computed as the quantity of material output divided by the quantity of material input. |
Yield |
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The transferred costs of completed production in Department A using a process cost system includes: |
Direct Materials Conversion Cost |
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