Indicate Whether Each of the Following Statements About Job-Order Cost

question 142

Short Answer

Indicate whether each of the following statements about job-order cost systems is true or false.A company using a job-order cost system assigns an identification number to each job or batch of products.With a job-order cost system, costs for all jobs worked on during a period are accumulated together and then allocated to individual jobs.Job-order costing systems involve some averaging in the calculation of the costs of products.In a job-order cost system, the Work in Process Inventory account is a temporary account.In a job-order cost system, each job cost sheet includes direct material, direct labor, and manufacturing overhead cost.