5 Questions
In a job order cost system, how are the three basic elements of cost accumulated?
According to assigned job numbers
Which type of companies might use job order costing?
Printing and engineering firms
What is used to summarize the applicable job costs in a job order cost system?
Cost sheet
What must be possible for a job order cost system to function properly?
Identify each job physically and segregate its related costs
What are the three basic elements of cost in a job order cost system?
Direct materials, direct labor, and factory overhead
Test your knowledge of cost accounting basics with this quiz. Topics covered include job order costing, process costing, and multiple products costing systems.
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