A List of All Accounts and the Identification Number Assigned

question 70

Multiple Choice

A list of all accounts and the identification number assigned to each account used by a company is called a:

• A) Source document.
• B) Journal.
• C) Trial balance.
• D) Chart of accounts.
• E) General Journal.

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Definitions:

Manufacturing Overhead

All manufacturing costs other than direct materials and direct labor, including maintenance, utilities, and depreciation.

Work in Process

Work in process (WIP) refers to partially finished goods that are still in the production process, representing a component of inventory valuation in manufacturing and project management.

Underapplied

Refers to a situation where the allocated indirect costs are less than the actual indirect costs incurred, resulting in a cost discrepancy.

Manufacturing Overhead

All indirect costs associated with the production process, including utilities, depreciation, and maintenance of equipment.