The cost of a completed job in a job-order costing system typically consists of the actual direct materials cost of the job, the actual direct labor cost of the job, and the manufacturing overhead cost applied to the job.

Question

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This statement accurately describes the components of the cost of a completed job in a job-order costing system. The actual direct materials cost and actual direct labor cost are traced to the job, while manufacturing overhead is allocated based on a predetermined overhead rate.

The Cost of a Completed Job in a Job-Order Costing