The adjusted trial balance of Masters Company includes the following balance sheet accounts that frequently require adjustment. For each account, indicate (a) the type of adjusting entry (prepaid expenses, unearned revenues, accrued revenues, or accrued expenses) and (b) the related account in the adjusting entry. 
Definitions:
Average Variable Cost
The total variable costs divided by the quantity of output produced, indicating the variable cost per unit of output.
Average Fixed Cost
Average fixed cost is the fixed cost per unit of output, calculated by dividing total fixed costs by the number of units produced, which decreases as production increases.
Average Variable Cost
The total variable costs of production divided by the quantity of output produced, representing the variable cost per unit of output.
Total Variable Cost
The sum of all variable costs for a given level of production or output.
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