Understanding key terms (Learning Objective 1)

Listed below are several terms. Complete the following statements with one of these terms. You may use a term more than once, and some terms may not be used at all.

a. A_shows the accumulation of costs of an individual job.

b. _isused by companies that produce small quantities of many different products.

c. A_isthe primary factor that causes costs.

d. Georgia-Pacific pulverizes wood into pulp to manufacture cardboard. The com¬ pany would use a-system.

e. To record costs of maintaining thousands of identical mortgage files, financial institutions such as Money Tree would use a-system.

f. _isassigning direct costs to cost objects.
g. Companies that produce large numbers of identical productsuse-
systems for product costing.
h. The computer repair service that visits your home and repairs your computer would use a-system.
i. A_ismanufacturing personnel’s request that materials be moved to the production floor.
j. _is assigning indirect costs to cost objects.

Cost allocation Cost driver Cost tracing Job costing Job cost record Materials requisition Process costing