Matching Questions 133. Match the following terms 1 to 7 with the definitions (a) through (g).__________ (1) Equivalent units of production.__________ (2) Job order cost accounting...

Matching Questions

133. Match the following terms 1 to 7 with the definitions (a) through (g).
__________ (1) Equivalent units of production.
__________ (2) Job order cost accounting system.
__________ (3) Hybrid manufacturing system.
__________ (4) Process manufacturing system.
__________ (5) Process cost accounting system.
__________ (6) Materials consumption report.
__________ (7) Process cost summary.

(a) Costing system to determine the cost of producing each job or job lot.
(b) Document that summarizes the materials a department uses during a reporting period; replaces materials requisition.
(c) Report of costs charged to a department, its equivalent units of production achieved, even the costs assigned to its output.
(d) A manufacturing system that contains features of both process and job order systems.
(e) Number of units that would be completed if all effort during a period had been applied to units that were started and finished.
(f) System of assigning direct materials, direct labor, and overhead to specific processes; total costs associated with each process are then divided by the number of units passing through that process to determine cost per equivalent unit.
(g) Process of products in a continuous flow of steps.