77. Accounting terminology Listed below are nine technical accounting terms introduced or emphasized in the Finished Goods Inventory* Overapplied overhead Activity - based cost system Work - in - Process Inventory* Underapplied overhead Job order cost system Job cost sheet Materials Inventory* Process cost system Each of the following statements may ( or may not ) describe one of these technic the space provided below each statement , indicate the accounting term described " None " if the statement does not correctly describe any of the terms . ( a) The balance remaining in the Manufacturing Overhead account when the over application rate used during the period is too low . ( b ) The account credited as component parts are transferred into production . ( C) A schedule used to accumulate manufacturing costs and to determine the unit associated with a specific custoll mer's order . (d) The inventory account credited when the cost of goods sold is recorded . ( e ) The type of cost accounting system most likely used by an oil refinery engage continuous production of petroleum products . ( f) The inventory account debited when manufacturing cost accounts ( such as DI Materials Inventory ) are credited . ( 5 ) The type of cost accounting system likely to be used by a machine shop that* items to the specifications provided by its customers