65. Which of the following statements about job order cost sheets is true? a• If material requisition forms are used, job order cost sheets do not need to be maintained. b• All job cost sheets serve as the general ledger control account for Work in Process Inventory. c• Job order cost sheets show costs for direct materials and direct labor, but not for manufacturing overhead since it is applied amount. d• Job order cost sheets can serve as subsidiary ledger information for both Work in Process Inventory and Finished Goods Inventory.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
icon
Concept explainers
Topic Video
Question

65. Which of the following statements about job order cost sheets is true?

a• If material requisition forms are used, job order cost sheets do not need to be maintained.
b• All job cost sheets serve as the general ledger control account for Work in Process Inventory.
c• Job order cost sheets show costs for direct materials and direct labor, but not for manufacturing overhead since it is applied amount.
d• Job order cost sheets can serve as subsidiary ledger information for both Work in Process Inventory and Finished Goods Inventory.
e• All of the above
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Costing Systems
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education