Master files, spreadsheets, and reports that accumulate material, labor, and overhead as the costs are incurred are
A) accounting systems.
B) storeroom documents.
C) cost accounting records.
D) finished goods inventory records.

Question

Quizplus · Accepted Answer

Master files, spreadsheets, and reports that accumulate material, labor, and overhead as the costs are incurred are part of cost accounting records. These records are used to track and analyze the costs of production, helping businesses make decisions regarding pricing, production volumes, and cost reduction efforts. Accounting systems may include cost accounting records, but not all accounting systems are focused solely on cost accounting. Storeroom documents and finished goods inventory records are related to inventory management, but are not directly related to cost accounting.

Master Files, Spreadsheets, and Reports That Accumulate Material, Labor, and Overhead