ECONOMICS

Detailed explanation-1: -The materials requisition serves as the source document for debiting the accounts in the materials ledger. Materials are transferred from the storeroom to the factory in response to materials requisitions. Depreciation expense on factory equipment is part of factory overhead cost.

Detailed explanation-2: -The answer is c) materials requisition. Materials requisition is the request from the stockroom for materials that are to use in the production, which is either indirect material or direct materials.

Detailed explanation-3: -Job-order cost sheets can serve as subsidiary ledger information for both Work in Process Inventory and Finished Goods Inventory.

Detailed explanation-4: -Materials are transferred from the storeroom to the factory in response to materials requisitions. Factory overhead is applied to production using a predetermined overhead rate. Nonmanufacturing costs are generally classified into two categories: selling and administrative.

Detailed explanation-5: -The correct answer is job cost sheet. A sheet which is used to record all the cost associated with the manufacturing of the products and services is known as the job cost sheet.