Match Each Following Cost Flows with Their Corresponding Job-Costing Event

question 3

Multiple Choice

Match each following cost flows with their corresponding job-costing event from the items listed below.* Each term may be used more than once, and it is possible that one or more of the classifications may not be used at all.
-Direct materials, direct labour and applied overhead are totalled to yield manufacturing cost of job

• A)Completion of job
• B)End of each accounting period
• C)Materials are removed from storage into production
• D)Product is sold
• E)End of year

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Definitions:

Financial Break-even

The point at which total revenues equal total expenses, and the company makes no profit or loss.

Discounted Basis

A method of purchasing or selling a financial instrument (e.g., a bond) for a price that is below its nominal or face value, reflecting the present value of its future cash flows.

Cash Basis

An accounting method where revenues and expenses are recorded only when cash is received or paid, respectively.

Discounted Payback Period

The time required to recover an investment's costs, taking the time value of money into account by discounting future cash flows.