Which of the following statements is true?
A) There will be many different jobs on a job-order cost sheet.
B) Direct labor is allocated to jobs along with overhead using a cost driver.
C) Work-in-process consists of all complete work.
D) Time tickets are used to post the cost of direct labor to individual jobs.
E) None of these.

Question

Quizplus · Accepted Answer

Time tickets are used to record the hours worked by employees on specific jobs and this information is used to post the cost of direct labor to individual jobs. Option A is incorrect because there may be a few or even a single job on the job-order cost sheet. Option B is incorrect because cost driver is used to allocate overhead costs, not direct labor. Option C is incorrect because work-in-process includes partially completed work and not just completed work.

Which of the Following Statements Is True