Chapter 15 Terms Flashcards
1
Q
Job Order Production
A
When a company produces customized products for specific customers
2
Q
Job
A
Production activities for a customized product
3
Q
Job Lot
A
When a job involves producing more than one unit of a custom product
4
Q
Job Order Cost System
A
used to determine the cost of producing each job or job lot
5
Q
Job Cost Sheet
A
Cost recorded maintained for each job
6
Q
Under-applied Overhead
A
When actual overhead is more than applied overhead (debit balance)
7
Q
Over-applied Overhead
A
When actual overhead is less than applied overhead (credit balance)
