Match Each of the Following Terms with the Appropriate Definitions

question 132

Multiple Choice

Match each of the following terms with the appropriate definitions.

-Process cost accounting system

• A)Costing system to determine the cost of producing each job or job lot.
• B)Document that summarizes the materials a department uses during a reporting period; replaces materials requisition.
• C)Report of costs charged to a department, its equivalent units of production achieved, even the costs assigned to its output.
• D)A manufacturing system that contains features of both process and job order systems.
• E)Number of units that would be completed if all effort during a period had been applied to units that were started and finished.
• F)System of assigning direct materials, direct labor, and overhead to specific processes; total costs associated with each process are then divided by the number of units passing through that process to determine cost per equivalent unit.
• G)Process of products in a continuous flow of steps.

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Definitions:

Marketing Costs

Expenditures associated with promoting, selling, and distributing a product or service, including advertising, market research, and sales force expenses.

Geographical Region

An area defined by natural or artificial features, political boundaries, or cultural characteristics that distinguish it from surrounding areas.

Limited-Function Merchant Wholesaler

A wholesaler that provides a limited range of services, focusing on specific functions like storage or delivery rather than comprehensive support.

Full-Function Merchant Wholesaler

A wholesaler that provides a range of services including stocking inventory, operating warehouses, and offering credit to retailers.