Match each of the following six terms with the phrase that most closely describes it. Each answer below may be used only once. ______ 1. activity-based costing ______ 2. cost of goods available for sale ______ 3. period costs ______ 4. process costing system ______ 5. just-in-time system ______ 6. work in process (A) Costs assigned to the goods produced; also known as manufacturing costs (B) Materials costs that are not traced directly to products produced (C) System that seeks to minimize Raw Materials Inventory and Work in Process Inventory (D) Cost of items that are completed and transferred from Work in Process Inventory to Finished Goods Inventory (E) Costs that are identified with accounting periods rather than with goods produced (F) Actual overhead is greater than overhead that has been applied to products (G) Method of assigning overhead costs that uses multiple allocation bases (H) System that uses job-order sheets to collect costs for each individual job (I) Cost of all materials and parts that are directly traced to the items produced (J) Beginning balance in the Finished Goods Inventory plus cost of goods manufactured (K) Overhead applied to products is greater than the actual overhead costs incurred (L) Used by companies that produce large quantities of identical items (M) Cost of all manufacturing activities other than direct material and direct labor (N) Inventory account that contains the cost of goods that are only partially completed (Points : 6)