Question

LO 5.5Match each term with its description.

A. conversion costs
i. total of direct material costs and direct labor costs


B. cost of goods sold
ii. manufacturing costs of the items sold


C. cost of production report
iii. number of units produced if each unit was produced sequentially


D. cost per equivalent unit
iv. total of direct labor costs, indirect labor costs, indirect material costs, and manufacturing overhead


E. equivalent units of production
v. where costs in a process cost system are reported before being applied to the product


F. manufacturing department
vi. detailed listing of the total costs of the product including the value of work in process


G. prime costs
vii. cost of materials or conversion for a specific department during production


H. transferred out costs
viii. product of the total cost per unit and the number of units completed and transferred during the time period

Answer 1

Please see explanantion

Step-by-step explanation:

A.conversion cost

iv. total of direct labor costs, indirect labor costs, indirect material costs, and manufacturing overhead

B. cost of goods sold

ii. manufacturing costs of the items sold

C. cost of production report

vii. cost of materials or conversion for a specific department during production

D. cost per equivalent unit

v. where costs in a process cost system are reported before being applied to the product

E. equivalent units of production

iii. number of units produced if each unit was produced sequentially

F. manufacturing department

vi. detailed listing of the total costs of the product including the value of work in process

G. prime costs

i. total of direct material costs and direct labor costs

H. transferred out costs

viii. product of the total cost per unit and the number of units completed and transferred during the time period