The Assignment of Direct Labour Cost to Individual Jobs Is

question 35

Multiple Choice

The assignment of direct labour cost to individual jobs is based on:

• A)an estimate of the total time spent on the job.
• B)actual total payroll cost divided equally among all jobs in process.
• C)estimated total payroll cost divided equally among all jobs in process.
• D)the actual time spent on each job multiplied by the wage rate.
• E)the estimated time spent on each job multiplied by the wage rate.

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Definitions:

Ordinary Course

Pertains to regular business activities and operations conducted by an entity under normal circumstances.

Security Interest

A financial mechanism that gives a lender priority over the borrower's assets or property in the case of default.

Financing Statement

A document filed by a creditor to indicate a security interest in the personal property of a debtor, used to perfect a lien.

Perfection

In the context of securing interests in property, it is the process of completing all required legal steps to enforce a security interest against third parties.