On a Cost of Production Report, the -----------Total Cost Must

question 13

Short Answer

On a cost of production report, the -----------total cost must equal the total costs accounted for.

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Definitions:

Deposits In Transit

Funds that have been deposited by a company but have not yet been recorded by the bank.

NSF Check

A check that cannot be processed due to insufficient funds in the account it is drawn on, also known as a bounced check.

Petty Cash Fund

A small amount of cash kept on hand for minor, incidental expenses.

Mail and Postage

Expenses associated with sending mail and packages, including the cost of stamps and shipping fees.