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  1. business
  2. accounting
  3. match the following terms to the statements shown

Match the following terms to the statements shown below. Use capital letters for your answers....

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Question

Accounting

  1. Match the following terms to the statements shown below. Use capital letters for your answers. Each term can only be used once.

A. Activity-based costing F. Manufacturing costs

B. Cost driver G. Overapplied overhead

C. Direct labor H. Period costs

D. Full cost I. Process costing system

E. Job cost sheet J. Selling costs

______ 1. The costs associated with securing and filling customers orders.

______ 2. Required under GAAP for valuing inventory on the balance sheet.

______ 3. Assigns overhead costs to products using a number of different allocation bases.

______ 4. Actual overhead costs are less than applied overhead.

______ 5. A form used to accumulate the product costs of each job.

______ 6. Used by companies that produce large quantities of identical items.

______ 7. The activity used as the basis for developing an overhead rate.

______ 8. Consists of direct material, direct labor, and overhead.

______ 9. Represents cost of workers directly involved in the production of a job.

______ 10. Costs that are expensed as incurred.

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