Managerial Accounting: Creating Value in a Dynamic Business Environment
12th Edition
ISBN: 9781260417074
Author: HILTON, Ronald
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Textbook Question
Chapter 3, Problem 4RQ
What are the purposes of the following documents: (a) material requisition form, (b) labor time record, and (c) job-cost record.
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Students have asked these similar questions
What are the purposes of the following documents:(a) material requisition form, (b) labor time record, and (c) job-cost record.
In job order costing, on which of the following would labor costs be initially recorded?
a. payroll register
b. time tickets
c. job cost sheets
d. clock cards
Which of the following are matters that are linked to personnel administration and have a bearing on labour costs?
i) Recruitment and selection process
ii) Work study
iii) Maintaining employee records
iv) Inventory records
A. ii), iii) and iv)
O B. i), ii) and ii)
O C.i), ii) and iv)
O D. i), i), ii) and iv)
Chapter 3 Solutions
Managerial Accounting: Creating Value in a Dynamic Business Environment
Ch. 3 - List and explain four purposes of product costing.Ch. 3 - Explain the difference between job-order and...Ch. 3 - How is the concept of product costing applied in...Ch. 3 - What are the purposes of the following documents:...Ch. 3 - Why is manufacturing overhead applied to products...Ch. 3 - Explain the benefits of using a predetermined...Ch. 3 - Describe one advantage and one disadvantage of...Ch. 3 - Describe an important cost-benefit issue involving...Ch. 3 - Explain the difference between actual and normal...Ch. 3 - When a single, volume-based cost driver (or...
Ch. 3 - Prob. 11RQCh. 3 - Describe the process of two-stage cost allocation...Ch. 3 - Define each of the following terms, and explain...Ch. 3 - Describe how job-order costing concepts are used...Ch. 3 - What is meant by the term cost driver? What is a...Ch. 3 - Describe the flow of costs through a...Ch. 3 - Give an example of how a hospital, such as the...Ch. 3 - Why are some manufacturing firms switching from...Ch. 3 - What is the cause of over applied or under applied...Ch. 3 - Briefly describe two ways of closing out over...Ch. 3 - Describe how a large retailer such as Lowes would...Ch. 3 - Prob. 22RQCh. 3 - For each of the following companies, indicate...Ch. 3 - The controller for Tender Bird Poultry, Inc....Ch. 3 - Finley Educational Products started and finished...Ch. 3 - Bodin Company manufactures finger splints for kids...Ch. 3 - McAllister, Inc. employs a normal costing system....Ch. 3 - Garrett Toy Company incurred the following costs...Ch. 3 - Crunchem Cereal Company incurred the following...Ch. 3 - Prob. 31ECh. 3 - Selected data concerning the past years operations...Ch. 3 - Sweet Tooth Confectionary incurred 157,000 of...Ch. 3 - The following information pertains to Trenton...Ch. 3 - The following data pertain to the Oneida...Ch. 3 - Refer to the data for the preceding exercise for...Ch. 3 - Design Arts Associates is an interior decorating...Ch. 3 - Suppose you are the controller for a company that...Ch. 3 - Laramie Leatherworks, which manufactures saddles...Ch. 3 - Refer to Exhibit 312, which portrays the three...Ch. 3 - Refer to the illustration of overhead application...Ch. 3 - The following data refer to Twisto Pretzel Company...Ch. 3 - Burlington Clock Works manufactures fine,...Ch. 3 - Perfecto Pizza Company produces microwavable...Ch. 3 - Stellar Sound, Inc. which uses a job-order costing...Ch. 3 - Finlon Upholstery, Inc. uses a job-order costing...Ch. 3 - JLR Enterprises provides consulting services...Ch. 3 - Garcia, Inc. uses a job-order costing system for...Ch. 3 - MarineCo, Inc. manufactures outboard motors and an...Ch. 3 - The following data refers to Huron Corporation for...Ch. 3 - Refer to the schedule of cost of goods...Ch. 3 - Marco Polo Map Companys cost of goods sold for...Ch. 3 - Midnight Sun Apparel Company uses normal costing,...Ch. 3 - Marc Jackson has recently been hired as a cost...Ch. 3 - Troy Electronics Company calculates its...Ch. 3 - Tiana Shar, the controller for Bondi Furniture...Ch. 3 - Scholastic Brass Corporation manufactures brass...Ch. 3 - Refer to the preceding problem regarding...Ch. 3 - Prob. 59PCh. 3 - TeleTech Corporation manufactures two different...Ch. 3 - CompuFurn, Inc. manufactures furniture for...Ch. 3 - FiberCom, Inc., a manufacturer of fiber optic...
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- What are the sources for posting direct labor cost to (a) individual jobs in the job cost ledger and (b) the work in process account in the general ledger?arrow_forwardWhich document serve as a subsidiary ledger for the general ledger balance of work in process inventory? Group of answer choices labor time tickets material requisitions job cost sheets material stockcards all of the above answersarrow_forwardWhat document is used to determine the actual amount of direct labor to record on a job cost sheet? a. Wages payable account O b. Payroll register c. Time ticket d. Production orderarrow_forward
- If a job order cost system tracks the direct materials and direct labor, why doesn't It track the actual overhead used for a specific job?arrow_forwardHow do the job cost sheets act as a subsidiary ledger for the work in process inventory if journal entries are not made to the job cost sheets?arrow_forwardWhich document lists the total direct labor used in a specific job? A. job cost sheet B. purchase order C. employee time ticket D. receiving documentarrow_forward
- Which document lists the inventory that will be removed from the raw materials inventory? A. job cost sheet B. purchase order C. materials requisition form D. receiving documentarrow_forwardWhich document shows the cost of direct materials, direct labor, and overhead applied for each specific job? A. job cost sheet B. purchase order C. materials requisition form D. receiving documentarrow_forwardWhat are the sources for posting indirect labor cost to the indirect labor account in the factory overhead ledger?arrow_forward
- What is the purpose of a work sheet?arrow_forwardIn a job order cost system, direct labor and factory overhead applied are debited to individual jobs. How are these items treated in a process cost system and why?arrow_forwardHow would you describe the following accounts: Finished Goods, Work in Process, and Materials?arrow_forward
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