COST ACCOUNTING
JOB ORDER COSTING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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job cost sheet
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purchase order
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materials requisition form
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receiving document
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Detailed explanation-1: -A job cost sheet is a document that shows the total cost of a job and its components.
Detailed explanation-2: -Answer and Explanation: The correct answer is a. Materials requisition slip. Material requisition slip is a document used to record the used direct materials or amount of direct materials that were transferred from raw materials to work in process account during the period.
Detailed explanation-3: -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. This usually happens in three categories: direct materials, direct labor, and overhead.
Detailed explanation-4: -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-5: -Direct materials are requested on a materials requisition form and recorded on the job cost sheet when transferred from raw materials inventory to the work in process inventory. Time tickets are used to accumulate the labor associated with particular jobs and assigned to those jobs on the job cost sheet.