Match Each Description to the Appropriate Document Used for Inventory

question 64

Short Answer

Match each description to the appropriate document used for inventory control (a-c).
-establishes an initial record of the receipt of inventory
A)Receiving report
B)Vendor's invoice
C)Purchase order

• A)Receiving report
• B)Vendor's invoice
• C)Purchase order

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Definitions:

Overhead Applied

The portion of overhead costs allocated to individual products or services based on a predetermined rate.

Machine-Hours

An evaluation of manufacturing productivity or action determined by how long equipment is running.

Total Job Cost

The total expense attributed to producing a specific job, including materials, labor, and overhead costs.

Predetermined Overhead Rate

A rate calculated before a period begins, used to allocate manufacturing overhead costs to individual units of production based on a chosen activity base.