Match Each Phrase That Follows with the Term (A-H) It

question 37

Multiple Choice

Match each phrase that follows with the term (a-h) it describes.
-Costing system used by a company producing computer chips

• A)Direct labor and factory overhead
• B)Direct labor and direct materials
• C)Transferred-in costs
• D)Equivalent units
• E)Process costing
• F)Job order costing
• G)First-in, first-out method
• H)Cost of production report

---

Definitions:

Final Output

The total value of all goods and services produced and sold for final use in the economy, avoiding duplication by excluding intermediate goods.

Durable Goods

Items with a long life span, such as appliances and automobiles, that are used over time rather than consumed quickly.

Intermediate Good

A product utilized in the manufacture of a final good or finished product, not sold directly to end consumers.

Local Nursery

A place or business that specializes in growing and selling plants and trees for gardening and landscaping within a local area.