fill in the blanks.\n1. selling and administrative costs arent assigned to jobs because theyre treated as…

fill in the blanks.\n1. selling and administrative costs arent assigned to jobs because theyre treated as ______ costs.\n2. job - order costing systems use ______ forms and labor time tickets to trace direct materials and direct labor costs to jobs.\n3. because manufacturing overhead costs are ______ costs, they must be allocated to jobs.\n4. ideally, the allocation base used to allocate overhead costs should be a/an ______ - it should cause the consumption of overhead costs.\n5. the most frequently used allocation bases in job - order costing systems are ______ - hours and ______ - hours.\n6. normal costing systems allocate overhead costs to jobs using ______ that are estimated before the period begins.\n7. throughout the period, overhead is applied to jobs by ______ the predetermined overhead rate by the actual amount of the allocation base recorded for each job.\n8. a predetermined overhead rate is computed by dividing the estimated total manufacturing overhead cost for the period by the estimated total amount of the ______ for the period.\n9. the total manufacturing costs assigned by a job divided by the number of units within that job equals the ______.\n10. activity - based ______ is a method that assigns all manufacturing overhead costs to products based on the activities performed to make those products.

fill in the blanks.\n1. selling and administrative costs arent assigned to jobs because theyre treated as ______ costs.\n2. job - order costing systems use ______ forms and labor time tickets to trace direct materials and direct labor costs to jobs.\n3. because manufacturing overhead costs are ______ costs, they must be allocated to jobs.\n4. ideally, the allocation base used to allocate overhead costs should be a/an ______ - it should cause the consumption of overhead costs.\n5. the most frequently used allocation bases in job - order costing systems are ______ - hours and ______ - hours.\n6. normal costing systems allocate overhead costs to jobs using ______ that are estimated before the period begins.\n7. throughout the period, overhead is applied to jobs by ______ the predetermined overhead rate by the actual amount of the allocation base recorded for each job.\n8. a predetermined overhead rate is computed by dividing the estimated total manufacturing overhead cost for the period by the estimated total amount of the ______ for the period.\n9. the total manufacturing costs assigned by a job divided by the number of units within that job equals the ______.\n10. activity - based ______ is a method that assigns all manufacturing overhead costs to products based on the activities performed to make those products.

Answer

Brief Explanations:

  1. Selling and administrative costs are period costs as they are expensed in the period they are incurred rather than assigned to products.
  2. Job - order costing uses materials requisition forms to track direct materials.
  3. Manufacturing overhead are indirect costs as they cannot be directly traced to a job.
  4. The allocation base should be a cost driver which causes overhead consumption.
  5. Direct labor - hours and machine - hours are common allocation bases.
  6. Normal costing uses predetermined overhead rates.
  7. Overhead is applied by multiplying the rate with the allocation base.
  8. Predetermined rate is computed using the allocation base.
  9. Total manufacturing cost per unit is total cost divided by units.
  10. Activity - based costing assigns overhead based on activities.

Answer:

  1. period
  2. materials requisition
  3. indirect
  4. cost driver
  5. direct labor; machine
  6. predetermined overhead rates
  7. multiplying
  8. allocation base
  9. manufacturing cost per unit
  10. costing