Required: Prepare the jaurnal cntries to record the purchased of materials. used of materials and labor incurrence.

The cost of materials used on a specific job is first captured on which source document? Select one: O a. Materials requisition form Ob. Process cost sheet Oc. Labor time ticket Od. Cost driver sheet

Equipment costs charged to jobs is a contra account used to: Record the equipment costs that been allocated or charged to the construction company. Record the equipment costs that been allocated or charged to the sub-contractor. Record the equipment costs that been allocated or charged to the materials costs for a specific construction project. Record the equipment costs that been allocated or charged to the construction costs for a specific construction project.

The cost accountant prepares the cost of production summary by first collecting the period’s production costs from summaries of material requisitions, payroll, and factory overhead analysis sheets. True or False?

Present the journal entry for (b) manufacturing labor incurred.

Which of the following describes cost allocation? a. serves as the basis for recording materials used O b. process by which factory overhead is assigned to a cost object serves as the basis for recording direct labor on a job cost sheet O c. O d. completed when materials that have been ordered are received and inspected