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Match the following terms to the appropriate statement by placing the letter to the left of each ...

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Match the following terms to the appropriate statement by placing the letter to the left of each ...

Match the following terms to the appropriate statement by placing the letter to the left of each statement.

Brewery

Reconciliation of physical unit flow formula

Conversion costs

Reconciliation of costs of production formula

Equivalent units

Shipbuilding

Process costing system

Work in Process

______

Beginning WIP units + Units started = Units transferred out + Ending WIP

units

______

A way of representing partially completed units in completed form

______

Units in ending inventory at the end of the period

______

An example of a company that would use process costing

______

Beginning WIP balance + Costs added during the period = Costs transferred

out

during the period + Ending WIP balance

______

Labor plus manufacturing overhead

______

Used by companies that mass-produce similar products or employ a

continuous

production process

______

An example of a company that would not use process costing

Textbook

Managerial Accounting

Edition: 4^th

Author: Davis

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