HELP PLEAASE BY 11:00 PM 4. A materials requisition in a job-order cost system i
ID: 2472794 • Letter: H
Question
HELP PLEAASE BY 11:00 PM
4.
A materials requisition in a job-order cost system is used as a:
A source document for assigning costs to individual departments.
Request form for getting the necessary materials from the materials store room.
A subsidiary account for recording the materials used on each job.
A means of ordering materials from outside suppliers.
6.
In a job-order cost system, as goods are produced, product costs (direct material, direct labor, and overhead) are accumulated in the:
Cost of goods sold account.
Materials account.
Work in process account.
Finished goods account.
7. Bruce Company experienced an event that affected its financial statements as indicated below:
What type of product costing system is being used by this company?
Hybrid cost system
None of these.
Job-order cost system
Process cost system
Comment
Explanation / Answer
Answer:
A materials requisition in a job-order cost system is used as a document that contains request for issuing material from Store department.
Hence correct answer is:
Request form for getting the necessary materials from the materials store room.
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