COST ACCOUNTING
JOB ORDER COSTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The purpose of a job cost sheet is to record the costs chargeable to a specific job and to determine the total and costs per unit of the completed job.
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TRUE
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FALSE
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Explanation:
Detailed explanation-1: -A job cost sheet is a compilation of the actual costs of a job. The report is compiled by the accounting department and distributed to the management team, to see if a job was correctly bid. The sheet is usually completed after a job has been closed, though it can be compiled on a concurrent basis.
Detailed explanation-2: -A job cost sheet is a document that lists a job’s components, pricing per unit of a product or service, and final cost. The task order costing system should be used for manufacturing distinctive products.
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