Match Each of the Following Phrases with the Term A-G

question 115

Multiple Choice

Match each of the following phrases with the term a-g that it most closely describes.
-a system that uses a different overhead rate for each activity

• A)job order cost system
• B)process cost system
• C)activity-based costing
• D)under applied overhead
• E)over applied overhead
• F)finished goods ledger
• G)materials ledger

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Definitions:

Dependent Children

Individuals, typically under the age of 18, who rely on adults for financial support and care.

Excise Tax

Taxes applied to specific goods, services, or activities, either as a flat amount per unit or as a percentage of the price.

Direct and Indirect

Terms used to differentiate between costs, taxes, or subsidies that are explicitly linked to the production or sale of a good (direct) and those that are not directly linked but influence economic outcomes (indirect).

Federal Expenditures

Spending by the federal government of a country, including costs for defense, welfare, infrastructure, and other public services.