What Is the Primary Role of a Job Cost Sheet

question 91

Multiple Choice

What is the primary role of a job cost sheet?

• A)It lists the materials on hand available to be used for jobs.
• B)It is the primary accounting record used in assigning costs to jobs.
• C)It is used instead of a cost of goods manufactured schedule.
• D)It shows the detail of the Manufacturing Overhead Control account.

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Definitions:

Average Total Cost

The expense per unit of output, calculated by dividing the total cost by the quantity of output produced.

Total Cost

The complete cost of production, combining all of the costs associated with the production of goods or services, including fixed and variable costs.

Economic Profit

The disparity between overall income and combined expenses, encompassing both direct and indirect costs.

Widgets

A generic term often used to represent a hypothetical product in economics and business discussions.