What three costs are normally accumulated on job cost sheets


Response to the following questions:

1. Which of these statements is correct?

(a) The collection of job cost sheets for unfinished jobs makes up a subsidiary ledger controlled by the Goods in Process Inventory account,

(b) Job cost sheets are financial statements provided to investors, or

(c) A separate job cost sheet is maintained in the general ledger for each job in process.

2. What three costs are normally accumulated on job cost sheets?

3. Why must a company estimate the amount of factory overhead assigned to individual jobs or job lots?

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Cost Accounting: What three costs are normally accumulated on job cost sheets
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