chap 3 4

Question 1

is used to
assign manufacturing overhead to individual jobs.

Answer 1

allocation base,

Question 1

used to apply overhead to jobs
is determined before the period begins.

Answer 1

(POHR)

Question 2

The process of assigning overhead cost to jobs is
called

Answer 2

overhead application.

Question 3

include any materials that go
into the final product.

Answer 3

Raw materials

Question 4

consists of units of production
that are only partially complete and will require
further work before they are ready for sale to
customers.

Answer 4

Work in process

Question 5

consist of completed units of
product that have not been sold to customers.

Answer 5

Finished goods

Question 6

include the
manufacturing costs associated with the goods
that were finished during the period,

Answer 6

Cost of goods manufactured

Question 7

exist when the amount of the overhead applied to the jobs during the period during the pohr is less than the total amount of overhead actually incurred during the period

Answer 7

underapplied overhead

Question 8

exist when the amount of the overhead applied to the jobs during the period during the pohr is greater than the total amount of overhead actually incurred during the period

Answer 8

overapplied overhead

Question 9

Any location in an organization where materials,
labor or overhead are added to the product.

Answer 9

Processing Department

Question 10

product of the number of
partially completed units and the percentage
of completion of those units.

Answer 10

Equivalent units