Match Each Phrase That Follows with the Term A-E It

question 9

Multiple Choice

Match each phrase that follows with the term a-e it describes.
-the portion of whole units that are complete with respect to materials or conversion costs

• A)cost of production report
• B)equivalent units of production
• C)manufacturing cells
• D)yield
• E)just-in-time processing

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Estimated Amount

A projection or approximation of a financial figure often used in budgeting or forecasting.

Allowance Method

A method used in accounting to estimate and account for bad debts, representing the amount of accounts receivable that may not be collected.

Allowance for Doubtful Accounts

A contra asset account that represents the estimated portion of accounts receivable that may not be collectible.