The Easiest Part of Calculating the Total Product Cost Is

question 85

Multiple Choice

The easiest part of calculating the total product cost is

• A)Separating direct material and indirect material.
• B)Allocating costs to products.
• C)Adding the direct materials and direct labor costs to overhead.
• D)None of these ans choices are correct.

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Definitions:

Ledger

A book or other collection of financial accounts of a particular type, where transactions are recorded.

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit columns to check for the accuracy of the entries.

Accounts Receivable

Money owed to a company by its customers for products or services delivered on credit.

Credit Sales

Transactions where goods or services are provided with the agreement that payment will be made at a later date.