Question

Notifies the materials manager to send materials to a production department. 2. Holds indirect costs until assigned to production. 3. Hold production costs until products are transferred from production to finished goods (or another department). 4. Standardizes partially completed units into equivalent completed units. 5. Holds costs of finished products until sold to customers. 6. Describes the activity and output of a production department for a period. 7. Holds costs of materials until they are used in production or as factory overhead.

Answer 1

Answer:

1. Notifies the materials manager to send materials to a production department---   material requisition

2. Holds indirect costs until assigned to production---    factory overhead account

3. Hold production costs until products are transferred from production to finished goods (or another department)---   goods in process inventory account

4. Standardizes partially completed units into equivalent completed units---    equivalent units of production

5. Holds costs of finished products until sold to customers---    finished goods inventory account

6. Describes the activity and output of a production department for a period---   process cost summary

7. Holds costs of materials until they are used in production or as factory overhead---    raw material inventory account

Explanation:

The complete question requires that we match the above to the options below

a. process cost summary

b. equivalent units of production

c. goods in process inventory account

d. raw material inventory account

e. material requisition

f. finished goods inventory account

g. factory overhead account