Instruction: Identify the following: 1 The ame ont inouct. Id fo MIC cIu .. 7. Direct Materials plus direct labor plus factory overhead. 8. Goods acquired for production but not yet requisitioned to be put into process. 9. Prime Costs plus Conversion Costs. 10. Direct Labor plus Factory Burden.\ 11. The basic document to accumulate the cost of each order. 12. System that collects the actual amounts of product costs. 13. System that is often used by furniture manufacturers who produces variety of products, because such producers need to keep track of each specific order to ensure correct assignment of costs. 14. Rate used in accumulation of factory overhead costs under normal cost system. 15. Other term for process cost system.
Instruction: Identify the following: 1 The ame ont inouct. Id fo MIC cIu .. 7. Direct Materials plus direct labor plus factory overhead. 8. Goods acquired for production but not yet requisitioned to be put into process. 9. Prime Costs plus Conversion Costs. 10. Direct Labor plus Factory Burden.\ 11. The basic document to accumulate the cost of each order. 12. System that collects the actual amounts of product costs. 13. System that is often used by furniture manufacturers who produces variety of products, because such producers need to keep track of each specific order to ensure correct assignment of costs. 14. Rate used in accumulation of factory overhead costs under normal cost system. 15. Other term for process cost system.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Instruction: Identify the following:
1 The ame
ont
inouct.
Id fo
MIC cIu ..
7. Direct Materials plus direct labor plus factory overhead.
8. Goods acquired for production but not yet requisitioned to be put into
process.
9. Prime Costs plus Conversion Costs.
10. Direct Labor plus Factory Burden.\
11. The basic document to accumulate the cost of each order.
12. System that collects the actual amounts of product costs.
13. System that is often used by furniture manufacturers who produces variety
of products, because such producers need to keep track of each specific order to
ensure correct assignment of costs.
14. Rate used in accumulation of factory overhead costs under normal cost
system.
15. Other term for process cost system.
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