acct chap 2

The type and quantity of each type of direct material needed to complete a unit of product is listed on the Blank______.

bill of materials

Materials requisition forms are used for ______.

making journal entries in accounting records/ controlling the flow of materials into production

The type and quantity of materials to be drawn from the storeroom and the job that will be charged for the materials is specified on the Blank______.

materials requisition form

A bill of materials contains the Blank______.

quantity of each direct material needed to complete a unit of product/ type of each direct material needed to complete a unit of product

Costs assigned to units of product under absorption costing include:

variable manufacturing. fixed manufacturing.

The most common approach to product costing throughout the world is Blank______ costing

Absortion

All manufacturing costs are assigned to units of product and all nonmanufacturing costs are treated as period cost under Blank costing.

absortion

Labor charges that cannot be easily traced to a job are considered Blank______.

indirect labor/ manufacturing overhead

Companies that use job-order costing make

many different products

Direct materials costs are recorded on the job cost sheet when the ______.

materials are issued to the job

An hour-by-hour summary of an employee's activities throughout the day is found on the

time ticket

The United States requires absorption costing for Blank______ financial reports.

external

A job cost sheet contains Blank______.

manufacturing overhead costs charged to the job/ materials costs charged to the job/ labor costs charged to the job

Bar codes can be used to:

automatically record and post direct labor costs to jobs.