Question $1$

Choose the appropriate definition for each term.

Allocation Base

Cost Driver

Job$-$order Costing

Overhead Application

Plantwide Overhead Rate

$[$Choose$]$

The process of assigning overhead cost to specific jobs.

A document that records the costs associated with a job.

A rate used to charge manufacturing overhead cost to jobs that is established in advance for each period.

A document that shows that amount of time an employee spends on a job.

A costing system used in situation where many different product or job are produced each period.

A factor, such as machine$-$hours or computer time, that causes overhead costs.

A pricing method in which a predetermined markup is applied.

A measure of activity such as labor$-$hours that is used to assign costs to cost objects.

A single predetermined overhead rate that is used throughout a company.

A document that shows the quantity of each type of material.

$[$Choose$]$

Predetermined Overhead Rate