Select the Response from the List Provided That Best Matches

question 32

Essay

Select the response from the list provided that best matches each of the following descriptions: $\begin{array}{|l|l|l|} \hline \text {Your Answer } & \text { Description } & \text { Responses } \\\hline & \text { A. System used to determine cost of distinct, one of a kind products } & \text {1. Cost per equivalent whole unit }\\\hline & \text { B. Method used in process cost systems to determine equivalent whole units, where state of completion of beginning units is innored } & \text { 2. Equivalent whole units}\\\hline & \text { C. System used to determine costs of products such as chemicals or paints } & \text { 3. FIFO method }\\\hline & \text { D. Calculated by dividing total production costs by number of equivalent whole units } & \text { 4. Hybrid accounting system }\\\hline & \text {E. The result of expressing partially completed goods in equivalent number of fully completed goods } & \text { 5. Job-order cost sheet }\\\hline & \text {F. Cost system that blends features of job-order and process costing} & \text {6. Job-order cost system}\\\hline & \text {G. Document used in job-order costing system to accumulate material, labor, and overhead costs of a job through the various stages of production. } & \text { 7. Materials requisition }\\\hline & \text {H. Costs that are transferred from one department to the next } & \text { 8. Process cost system }\\\hline & \text {I. Mechanism or document used to request materials needed to begin a job} & \text {9. Transferred-in costs}\\\hline & \text {J. Mechanism or document used to accumulate the time spent on a job by each employee } & \text { 10. Weighted-average method }\\\hline & \text {K . More complicated method of determining equivalent whole units when accuracy is of paramount importance} & \text {11. Work ticket}\\\hline\end{array}$
#2.Since you haven't used "whole" elsewhere,do you want to use it here? Also in B.and K.
Also in answer below.
Yes.We should use it.I went back through and inserted it as needed.

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Definitions:

Variable Costing

A costing method that includes only variable manufacturing costs—direct materials, direct labor, and variable manufacturing overhead—in the cost of a unit of product.

Contribution Margin

The difference between sales revenue and variable costs, used to cover fixed costs and generate profit.

Variable Costing

A costing method that only includes variable costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, while fixed costs are expensed in the period they are incurred.

Absorption Costing

An accounting method that includes both variable and fixed manufacturing overhead costs in the cost of a unit of product.