ECONOMICS

Detailed explanation-1: -Each account in the cost ledger in a job order system is called a job cost sheet. TRUE. In the job order system, the finished goods account is the controlling account for the factory overhead ledger.

Detailed explanation-2: -Each account in the work in process subsidiary ledger in a job order costing system is called a job cost sheet. True. . In the job order costing system, the finished goods account is the controlling account for the factory overhead ledger.

Detailed explanation-3: -A job order cost sheet accumulates the costs charged to a specific job. It is used within a job costing system. This cost sheet is most commonly compiled for single-unit or batch-sized production runs.

Detailed explanation-4: -It is a file that is purged every period and is in the same format as the General Ledger. The Job Ledger contains revenues, receipts, and direct costs related to jobs. All accounting transactions recorded in the Job Ledger are also posted to the General Ledger.