Match the Terms with the Definitions

question 35

Multiple Choice

Match the terms with the definitions.
-The wages and salaries of employees who devote their time to supervision or to work of a general nature.

• A)cost accounting system
• B)daily time sheet
• C)direct labor
• D)underapplied overhead
• E)factory overhead
• F)predetermined overhead rate
• G)Materials Inventory
• H)finished goods ledger
• I)indirect labor
• J)job cost ledger

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Definitions:

Asset Accounts

Accounts that represent resources owned or controlled by a company from which future economic benefits are expected to flow to the company.

Factory Equipment

These are fixed assets used in the production process to manufacture goods, including machinery, tools, and vehicles.

Total Assets

Total assets represent the sum of everything of value owned by a company, including cash, investments, property, and equipment.

Current Stockholders' Equity

The total value of all shareholders' interests in a company, based on current financial statement data.