Matching Question 201 Match the following statements to the

Matching Question 201 Match the following statements to the appropriate terms. The cost of products that are partially complete The function of keeping activities in accordance with plans. Primarily concerned with internal users and reports pertain to subunits of the entity. Materials that can be physically and directly associated with manufacturing a product The function of setting goals and objectives Indirect costs of manufacturing a product. Primarilly concerned with external users and reports pertain to the entity as a whole Costs that are noninventoriable. All business processes associated with providing a product or service. The function of coordinating diverse activities to produce a smooth running operation. Click if you would like to Show Work for this question: Qpen Show Work

Solution

1.The cost of products that are partially complete
Answer :Work in process inventory

2.The function of keeping activities in accordance with plans
Answer: Controlling

3. Primarily concerned with internal users and reports pertain to subunits of the entity
Answer: Managerial accounting

4. Materials that can be physically and directly associated with manufacturing a product
Answer: Direct materials

5. The function of setting goals and objectives
Answer: Planning

6. Indirect costs of manufacturing a product
Answer: Manufacturing overhead

7. Primarily concerned with external users and reports pertain to the entity as a whole
Answer :Financial accounting

8.Costs that are noninventoriable
Answer: Period costs

9. All business processes associated with providing a product or service
Answer: Value chain

1p.The function of coordinating diverse activities to produce a smooth running operation
Answer: Directing