Answers May Be Used More Than Once

question 40

Multiple Choice

Answers may be used more than once.
-Form that asks for the type,quantity,and unit price of direct materials

• A)Job-order cost sheet
• B)Time ticket
• C)Materials requisition form

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Definitions:

Overhead Cost

All ongoing business expenses not directly attributed to creating a product or service, including rent, utilities, and salaries of non-production employees.

Activity Cost Pools

Collections of all the costs associated with a particular business activity, facilitating more precise allocation of overheads.

Overhead Cost

Indirect expenses related to the production of goods or services, such as rent, utilities, and salaries of management, that cannot be directly tied to a specific product.

Activity Cost Pools

Groupings of individual costs, driven by the same cost drivers, used in activity-based costing to allocate costs more precisely to products or services.