Match Each Phrase That Follows with the Term A-H It

question 58

Multiple Choice

Match each phrase that follows with the term a-h it describes.
-conversion costs

• A)direct labor and factory overhead
• B)direct labor and direct materials
• C)transferred in costs
• D)equivalent units
• E)process costing
• F)job order costing
• G)first-in, first-out method
• H)cost of production report

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Definitions:

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.

Job Order Costing

An accounting method that tracks production costs individually for each job or batch, commonly used in custom manufacturing.

Custom Home

A house designed and constructed according to the specific preferences and requirements of an individual client.

Factory Overhead Account

An account that aggregates all indirect manufacturing costs, such as utilities and maintenance, associated with producing goods in a factory.