Match the Following Terms with Their Meanings

question 12

Multiple Choice

Match the following terms with their meanings:
i.VBA construct
II.procedure
III.Design Mode
IV.command button
v.restore

• A)An Excel feature in which you can add and modify ActiveX controls.
• B)An instruction that enables a macro to perform multiple operations on a single object.
• C)To return something to the condition in which you found it.
• D)An ActiveX control button that runs a macro that performs an action when a user clicks it.
• E)A unit of computer code that performs an action.

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Definitions:

Cost Reconciliation

Cost reconciliation is the process of analyzing and adjusting the differences between the actual costs incurred and the standard or budgeted costs to understand variances in manufacturing or production activities.

Process Costing

Process costing is a method of costing used by companies that produce similar or homogenous products, where costs are accumulated over a period and then allocated to units of product.

Weighted-Average Method

An inventory costing method that assigns an average cost to each unit of inventory, calculated by dividing the total cost of goods available for sale by the total units available.

Conversion Cost

Sum of direct labor and manufacturing overhead costs, representing the costs necessary to convert raw materials into finished goods.