Question
Match each of the following terms with its correct definition: job-order costing system Process-costing system overapplied overhead plantwide overhead rate predetermined overhead rate job-order cost
Match each of the following terms with its correct definition:
job-order costing system
Process-costing system
overapplied overhead
plantwide overhead rate
predetermined overhead rate
job-order cost sheet
overhead variance
applied overhead
actual cost system
Time Ticket
materials requisition form
underapplied overhead
normal cost sytem
direct materials
manufacturing overhead
A. The amount by which applied overhead exceeds actual overhead
B. The job order number, or name, head this form.
C. Materials that can be easily and cost-effectively traced to a specific job
D. An overhead rate computed using estimated data
E. The amount by which actual overhead exceeds applied overhead
F. The difference between actual overhead and applied overhead
G. Indirect materials, indirect labor, and other costs related to manufacturing that cannot be easily to traced to a specific job
H. This form asks for the type, quantity, and unit price of direct materials.
I. Overhead assigned to production using predetermined rates
J. A costing system that accumulates production costs by process or by department for a given period of time
K. A single overhead rate calculated using all estimated overhead for a factory divided by the estimated activity level across the entire factory
L. A costing system in which costs are collected and assigned to units of production for each individual job
M. This form is filled out by each employee every day.
N. An approach that assigns actual costs of direct materials, direct labor, and overhead to products
O. An approach that assigns the actual costs of direct materials and direct labor to products but uses a predetermined rate to assign overhead costs
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