Listed next are several terms. Complete the following statements with one of these terms. You may use a term more than once, and some terms may not be used at all.

a. is used by companies that produce unique services and products.

b. Raw materials are stored in a storeroom until a is received requesting the transfer of materials to the production area.

c. is the assignment of direct costs to specific jobs.

d. Indirect costs cannot be traced to specific products, so they are divided up using a process called .

e. A custom-home builder would use a system to determine product cost.

f. A is any activity that causes a cost to be incurred.
g. is used by companies that produce large numbers of identical units through a series of uniform production steps or processes.
h. The is used to track and accumulate all of the costs for an individual job.
i. PepsiCo produces Ruffles potato chips; it would use a system to determine product cost.

Transcribed Image Text:

Cost allocation Cost tracing Cost driver Job cost record Job costing Materials requisition Process costing