| A) | A costing system used in those manufacturing situations where a single, homogeneous product (such as cement or oil) flows in a continuous stream out of the production process.
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| B) | A costing system used in situations where many different products, jobs, or services are produced each period.
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| C) | A detailed source document that specifies the type and quantity of materials that are to be drawn from the storeroom and identifies the job to which the costs of materials are to be charged.
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| D) | Those materials that become an integral part of a finished product and can be conveniently traced to it.
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| E) | A measure of activity, such as direct labour-hours or machine-hours, that is used to assign costs to cost objects.
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| F) | The process of charging manufacturing overhead cost to job cost sheets and to the Work in Process account.
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| G) | A single predetermined overhead rate used throughout a plant.
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| H) | A cost that cannot be easily and conveniently traced to the particular cost object under consideration.
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| I) | A costing system in which there are multiple overhead cost pools with a different predetermined rate for each cost pool, rather than a single predetermined overhead rate for the entire company. Frequently, each production department is treated as a separate overhead cost pool.
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| J) | A costing method that includes all manufacturing costs—direct materials, direct labour, and both variable and fixed overhead—as part of the cost of a finished unit of product; synonymous with full costing.
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| K) | All costs that are expensed on the income statement in the period in which they are incurred or accrued. Selling (marketing) and administrative expenses are period costs.
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| L) | A detailed source document that is used to record an employee's hour-by-hour activities during a day.
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| M) | A form prepared for each job that records the materials, labour, and overhead costs charged to the job.
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| N) | A costing system in which overhead costs are applied to jobs by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the job.
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| O) | A factor that causes overhead costs, such as machine-hours, beds occupied, computer time, or flight-hours.
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| P) | Another name for absorption costing.
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| Q) | A record that lists the type and quantity of each major item of the materials required to make a product.
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| R) | A credit balance in the Manufacturing Overhead account that arises when the amount of overhead cost applied to Work in Process is greater than the amount of overhead cost actually incurred during a period.
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| S) | A debit balance in the Manufacturing Overhead account that arises when the amount of overhead cost actually incurred is greater than the amount of overhead cost applied to Work in Process during a period.
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| T) | A rate used to charge overhead costs to jobs; the rate is established in advance for each period using estimates of total manufacturing overhead cost and of the total allocation base for the period.
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