Match Each of the Following Terms with Its Definition

question 24

Multiple Choice

Match each of the following terms with its definition.
-A peer group review of any product created during the system development process.

• A)Baseline Project Plan
• B)discount rate
• C)economic feasibility
• D)intangible benefit
• E)intangible cost
• F)legal and contractual feasibility
• G)operational feasibility
• H)one-time cost
• I)political feasibility
• J)present value
• K)recurring cost
• L)schedule feasibility
• M)Project Scope Statement
• N)tangible benefit
• O)tangible cost
• P)technical feasibility
• Q)walkthrough

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Definitions:

Predetermined Overhead Rate

The predetermined overhead rate is calculated before a period begins by dividing estimated overhead costs by an estimated allocation base, used to assign overhead costs to products.

Machine-Hours

A measure of production time, describing how many hours a machine is in operation.

Job-Order Costing

A cost accounting system that accumulates costs per job rather than by process, suitable for firms producing unique products or jobs.

Plantwide Predetermined

A single predetermined overhead rate that is applied throughout an entire plant or manufacturing facility.