ECONOMICS

Detailed explanation-1: -The job order cost sheet records details on the quantity of direct work and material and the sum of factory overhead charged to the particular job or job part.

Detailed explanation-2: -Job cost sheets contain entries for actual direct material, actual direct labor, and actual manufacturing overhead cost incurred in completing a job.

Detailed explanation-3: -It’s a record of the costs incurred for a single job. A job cost sheet usually includes the customer name, address, job number, job description, date started, date completed, and estimated completion date. The costs for the job are recorded on the sheet during the production process.

Detailed explanation-4: -The three cost categories appearing on a job cost sheet are: selling expense, manufacturing expense, and administrative expense. 3. Under a job-order cost system the Work in Process account is debited with the cost of materials purchased.