What Is Another Name for an Accounting Record of a Job

question 102

Multiple Choice

What is another name for an accounting record of a job?

• A)a job cost record
• B)a job cost sheet
• C)the Work in Process control account
• D)Raw Materials inventory records

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Definitions:

Traditional Costing

An accounting method that allocates overhead based on a single, volume-based cost driver, often used in manufacturing industries.

Manufacturing Overhead

All indirect costs associated with the production process, such as utilities, depreciation of manufacturing equipment, and factory personnel salaries.

Total Product Cost

The sum of all costs directly or indirectly associated with producing a product, including materials, labor, and overhead.

Activity-Based Costing

A costing method that assigns overhead and indirect costs to specific products or services based on the activities and resources that go into their production.