Description
Question A
- Provide and discuss an example of a situation where a company would use a job cost sheet. As part of your analysis, be sure to explain the nature and importance of a job cost sheet.
* Response must be at least 150 words in length.
Explanation & Answer
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Job costing sheet is a financial document used by companies to record manufacturing cost ,and it is prepared by copmanies that use job order costing system to compute and allocate costs to products and services.
It is a responsibility of accounting department to record all manufacturing costs that includes: direct labor ,direct materials and manufacturing overhead; all into a job cost sheet.
Is mostly used in manufacturing company where data about direct labor cost, direct material cost and manufacturing overhead need to be recorded
Importance.
-Records labor rates and payrolls
-Computes final profit and loss
-Includes cost subtotals for specificity
It exists in varoius formarts amd it has the following sectors: date, heading, number of workers, cost of workers, number of input goods and services and their costs.
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