v2 Cengage CengageNOWv2 Online teaching and learning res CHAPTER 4-JOB-ORDER COS

Question

v2 Cengage CengageNOWv2 Online teaching and learning res CHAPTER 4-JOB-ORDER COSTING AND OVERHEAD APPLICATION Previous Page 7 of 14 Ne Which of the following is true of a materials requisition form? O a. It contains the details of the supplier of materials. O b. It does not contain the details of the unit price of direct materials. O c. It is used to record the cost of indirect materials but not direct materials. O d. It makes no attempt to trace the cost of indirect materials to a particular job.

Explanation / Answer

Correct Answer = It does not contain the details of the unit price of direct material.

Explanation

Material requisition is prepared by production department to ask for material from the stores. Material requisition does not have details of supplier of the material. Material requisition slip is used to record the cost of direct as well as indirect material. It certainly do not have details of price of the item because production department does not generally have information about the rates at which items are purchased by purchasing department.

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