A basic part of a job order costing system is the set of procedures and entries used to record the costs incurred for materials, labor, and overhead.

Question

Quizplus · Accepted Answer

Job order costing involves the recording of materials, labor, and overhead costs for each specific job or order. These costs are accumulated and assigned to the job or order, and are used to determine the total cost of producing the product or service. Therefore, the statement is true, as the recording of costs is a fundamental part of a job order costing system.

A Basic Part of a Job Order Costing System Is