A Job Order Cost Sheet Summarizes

question 21

Multiple Choice

A job order cost sheet summarizes:

• A)the direct labor, direct materials used, and actual overhead costs incurred on a specific job.
• B)the estimated costs that will be required to complete a specific job.
• C)the direct labor, direct materials used, and applied overhead association with a specific job.
• D)the direct labor and direct materials used only.

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Definitions:

Cash

Physical money such as coins and banknotes, or a resource in bank accounts that is available for immediate withdrawal and use for payments.

Withdrawals

Money or other assets taken out of a business by its owner(s) for personal use.

Financial Position

refers to the status of the assets, liabilities, and equity of an entity at a particular point in time, as represented primarily through the balance sheet.

Date

In financial documents, it signifies the point in time when a transaction occurred or when a document was created.