module 18

Question 1

process manufacturing

Answer 1

▪ Identical units are
produced on a
continuous basis
▪ Can be one product or a
set of closely related
products

Question 2

job order production

Answer 2

Products are
manufactured in single
units or in batches of
identical units

Question 3

production costs

Answer 3

All production costs
necessary to get
products ready to sell

Question 4

period costs

Answer 4

All costs other than
product costs

Question 5

job cost sheet

Answer 5

A document used to accumulate the cost for a
specific job in a job-cost system
▪ Serves as a basic record for recording actual
progress on the job
▪ All production costs are included
▪ Direct materials
▪ Direct labor
▪ Manufacturing overhead

Question 6

material requisition form

Answer 6

▪ Indicates the type and quantity of each raw
material issued to the factory
▪ Used to record the transfer of responsibility for
materials and to record materials changes on
raw materials and job cost sheet records

Question 7

work ticket

Answer 7

Used to record the time a job spends
in a specific manufacturing operation
▪ Time information is used by
production scheduling and to
assign costs to jobs

Question 8

roll of a job cost sheet

Answer 8

When incurred, costs are assigned to the
Work-in-Process account AND to job cost sheets.
▪ When jobs are complete, costs are determined
by looking at the sheet for the completed job,
and transferring that amount from
work-in-process to finished goods inventor

Question 9

process costing

Answer 9

Used when products are produced in a
continuous manufacturing environment