Answers May Be Used More Than Once

question 40

Multiple Choice

Answers may be used more than once.
-Form that asks for the type,quantity,and unit price of direct materials

• A)Job-order cost sheet
• B)Time ticket
• C)Materials requisition form

---

Definitions:

Cost of Goods Sold

Cost of Goods Sold (COGS) refers to the direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Inventory Items

are goods or products that a business holds for the purpose of sale or production.

Gross Profit

The difference between revenue and the cost of goods sold (COGS), indicating the profit a company makes after deducting the costs associated with making and selling its products or services.

Inventory Purchases

The acquisition of goods and materials a company intends to sell in its ordinary course of business.