Match the Terms with the Definitions

question 14

Multiple Choice

Match the terms with the definitions.
-The subsidiary ledger that shows the quantity, cost, material received and issued, and resulting balance for each type of material.

• A)Work in Process
• B)process cost system
• C)overapplied overhead
• D)direct materials
• E)materials requisition
• F)factory overhead subsidiary ledger
• G)Finished Goods Inventory
• H)materials ledger
• I)job order cost system
• J)indirect materials
• K)job cost sheet

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Definitions:

Average Variable Cost

The total variable cost of production divided by the quantity of output, representing the variable cost per unit of output.

Average Total Cost

The total cost of production divided by the number of goods produced; it includes both fixed and variable costs.

Marginal Revenue

The incremental income produced through the sale of one additional unit of a good or service.

Marginal Cost

The extra cost triggered by the production of an additional unit of a product or service.