1. Match each term with its description. Group of answer choices Cost of materials or conversion for a specific department during production. Manufacturing costs of the items purchased by customers. Number of units produced if each unit was produced sequentially. Where costs In a process cost system are reported before being applied to the product. The total of beginning inventory and units started into production. Detailing listing of the total costs of the product including the value of work in process. Total of direct material costs and direct labor costs. Total of direct labor costs, indirect labor costs, indirect material costs, and manufacturing overhead. Typically related to a particular time period instead of attached to the production of an asset Product of the total cost per unit and the number of units completed and transferred during the time period. Conversion Costs? Cost of Goods Sold? Cost of Production Report? Cost of Equivalent Unit? Equivalent Units of Production? Manufacturing Department? Prime Costs? Transferred Out Costs? Period Costs? Units to Account For?

1. Match each term with its description. Group of answer choices Cost of materials or conversion for a specific department during production. Manufacturing costs of the items purchased by customers. Number of units produced if each unit was produced sequentially. Where costs In a process cost system are reported before being applied to the product. The total of beginning inventory and units started into production. Detailing listing of the total costs of the product including the value of work in process. Total of direct material costs and direct labor costs. Total of direct labor costs, indirect labor costs, indirect material costs, and manufacturing overhead. Typically related to a particular time period instead of attached to the production of an asset Product of the total cost per unit and the number of units completed and transferred during the time period. Conversion Costs? Cost of Goods Sold? Cost of Production Report? Cost of Equivalent Unit? Equivalent Units of Production? Manufacturing Department? Prime Costs? Transferred Out Costs? Period Costs? Units to Account For?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1. Match each term with its description.

Group of answer choices

Cost of materials or conversion for a specific department during production.

Manufacturing costs of the items purchased by customers.

Number of units produced if each unit was produced sequentially.

Where costs In a process cost system are reported before being applied to the product.

The total of beginning inventory and units started into production.

Detailing listing of the total costs of the product including the value of work in process.

Total of direct material costs and direct labor costs.

Total of direct labor costs, indirect labor costs, indirect material costs, and manufacturing overhead.

Typically related to a particular time period instead of attached to the production of an asset

Product of the total cost per unit and the number of units completed and transferred during the time period.

Conversion Costs?

Cost of Goods Sold?

Cost of Production Report?

Cost of Equivalent Unit?

Equivalent Units of Production?

Manufacturing Department?

Prime Costs?

Transferred Out Costs?

Period Costs?

Units to Account For?

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