For Each Item Below Indicate the Source Documents That Would

question 117

Short Answer

For each item below indicate the source documents that would most likely authorize the journal entry in a job-costing system.
A)labour time card
B)job-cost record
C)materials requisition record
D)purchase invoice
E)sales invoice
F)labour time card
-cost of goods sold

• A)labour time card
• B)job-cost record
• C)materials requisition record
• D)purchase invoice
• E)sales invoice
• F)labour time card
• -cost of goods sold

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Definitions:

APC

Average Propensity to Consume, which is a measure of the percentage of income that is spent on goods and services rather than being saved.

Income

Funds regularly amassed from labor or capital invested.

APS

The abbreviation for "Aggregate Planning Strategy," a process in operations management to balance production and demand over a medium-term horizon; or it could refer to "Automatic Payment System," depending on context.

Income

The financial gain earned by an individual or business, typically measured on an annual basis, coming from work, investments, or other sources.