1. selling and administrative costs arent assigned to jobs because theyre treated as _______ costs.\n2. job…

1. 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.

1. 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 and not assigned to jobs.
  2. Job - order costing uses materials requisition forms for direct materials and labor time tickets for direct labor.
  3. Manufacturing overhead costs are indirect costs and need allocation.
  4. The ideal allocation base is a cost driver as it causes overhead consumption.
  5. Labor - hours and machine - hours are common allocation bases in job - order costing.
  6. Normal costing uses predetermined overhead rates estimated before the period.
  7. Overhead is applied by multiplying the predetermined rate by the actual allocation base amount.
  8. A predetermined overhead rate is computed by dividing estimated total overhead by estimated total allocation base amount.
  9. Total manufacturing costs per job divided by units in the job gives the unit product cost.
  10. Activity - based costing assigns all manufacturing overhead based on activities.

Answer:

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