Question
fill in the blanks 1._ is the method of production costing in which are gathered by job or per order. 2._ is are report use
fill in the blanks
1._ is the method of production costing in which are gathered by job or per order.
2._ is are report use in a process costing environment to tabulate the cost incurred within a particular stage/department.
3.is the method of process costing assigns same average coats for units completed, transferred out and ending inventory for certain accounting period.
4._ is the document used where cost of each job is accumulated on a separate source.
5._ is the account where under- or over applied is adjusted to apply costing.
6_ is the journal entry that must be debited to transfer costs of completed units. Working in Process (WIP) is the credit journal entry.
7_ is what happens to factory overhead cost as a result of credit balance after recording actual and applied amount.
8_ is a method to allocate total costs of production to homogenous units produce via a continuous process that usually involves multiple steps or departments.
9_ is the cost assigned to partially completed products transferred from one department to the subsequent section of production.
10._ is the inventory method commonly used in process costing which assigns cost of the earliest equivalent units available to units completed and transferred out before assigning the cost of the equivalent worked on during the period to ending work in process inventory.
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