Match each of the statements with its proper term.

A report prepared periodically by a processing department, summarizing the costs incurred by the department and the allocation of those costs between completed and incomplete production. Manufacturers that use large machines to process a continuous flow of raw materials through various stages of completion into a finished state. A measure of materials usage efficiency. The number of units in production during a period, whether completed or not. The number of production units that could have been completed within a given accounting period, given the resources consumed. A method of inventory costing that assumes the unit product costs should be determined separately for each period in the order in which the costs were incurred. A grouping of processes where employees are cross-trained to perform more than one function. A type of cost system that accumulates costs for each of the various departments within a manufacturing facility. A processing approach that focuses on eliminating time, cost, and poor quality within manufacturing and nonmanufacturing processes. The rate used to allocate costs between completed and partially completed production. 1.cost per equivalent unit2.process cost system3.equivalent units of production4.whole units5.manufacturing cells6.process manufacturers7.just-in-time processing8.first-in, first-out (FIFO) cost method9.yield10.cost of production report

2. Match each of the statements with its proper term.

A type of cost accounting system that provides for a separate record of the cost of each particular quantity of product that passes through the factory. The form or electronic transmission used by the receiving personnel to indicate that materials have been received and inspected. An account in the work in process subsidiary ledger in which the costs charged to a particular job order are recorded. The rate used to apply factory overhead costs to the goods manufactured. The rate is determined from budgeted overhead cost and estimated activity usage data at the beginning of the fiscal period. An accounting framework based on determining the cost of activities. The amount of factory overhead applied in excess of the actual factory overhead costs incurred for production during a period. The subsidiary ledger that contains the individual accounts for each kind of commodity or product produced. A type of cost accounting system in which costs are accumulated by department or process within a factory. The form or electronic transmission used by a manufacturing department to authorize the issuance of materials from the storeroom. The form on which the amount of time spent by each employee and the labor cost incurred for each individual job, or for factory overhead, are recorded. The subsidiary ledger containing the individual accounts for each type of material. The process of assigning indirect costs to a cost object, such as a job. A measure of activity that is related to changes in cost and is used in the denominator in calculating the predetermined factory overhead rate to assign factory overhead costs to cost objects. Those costs that are used up in generating revenue during the current period and that are not involved in the manufacturing process. 1.time tickets2.job order cost system3.period costs4.receiving report5.process cost system6.activity base7.predetermined factory overhead rate8.materials ledger9.cost allocation10.materials requisitions11.overapplied factory overhead12.finished goods ledger13.job cost sheet14.activity-based costing