Match Each Item with the Correct Statement Below

question 32

Multiple Choice

Match each item with the correct statement below.
-An approach that assigns the actual costs of direct materials and direct labor to products but uses a predetermined rate to assign overhead costs

• A)actual cost system
• B)job-order costing system
• C)normal cost system
• D)process-costing system

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Definitions:

Scrap Value

The estimated resale value of an asset at the end of its useful life.

Heavy Equipment

Larger, more specialized pieces of machinery used in construction, mining, and heavy industry, such as bulldozers, cranes, and excavators.

Sum-Of-The-Years-Digits

A depreciation method that results in a more accelerated write-off of assets than the straight-line method, involving adding the digits of the years of an asset's useful life.

Heavy Equipment

Large machinery used in construction, mining, and manufacturing, essential for executing large-scale tasks.