A Job Cost Sheet Includes

question 111

Multiple Choice

A job cost sheet includes:

• A)Direct materials,direct labor,and operating costs.
• B)Direct materials,estimated overhead,and administrative costs.
• C)Direct labor,actual overhead,and selling costs.
• D)Direct material,direct labor,and applied overhead.
• E)Direct materials,direct labor,and selling costs.

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Definitions:

Proprietorship

A business structure owned by a single individual, where the owner and the business are legally treated as the same.

Basic Accounting Equation

Assets equal liabilities plus equity; the foundational equation in accounting expressing the principle of balance in a firm's financial position.

Owner's Equity

The remaining value of a company's assets after all liabilities have been subtracted, indicating the stake of ownership in the enterprise.

Assets

Economic resources or owned valuables that are expected to provide future benefits to a business.