Homework Help is Here – Start Your Trial Now!
Business
Accounting
TRUE or FALSE The document that serves as the basis for recording direct labor on a job cost sheet is the time card. 1. 2. The document that serves as the basis for recording direct labor on a job cost sheet is the time ticket. 3. Labor costs are the worker's payroll needed to convert raw materials into finished products. 4. Wages paid to factory supervisors are considered as direct labor. 5. Direct labor costs are charged to Factory Overhead control account. 6. Direct labor costs are wages paid to workers who are directly engaged in the conversion of raw materials to finished goods. 7. Labor cost control requires correct time keeping and improvement in the method of production. 8. Labor costs significantly influence the prime cost per unit. 9. Labor costs significantly influence the conversion cost per unit. 10. Preparation of payroll is an example of timekeeping. 11. The Engineering department is responsible for maintaining control over working conditions and production technique/plan and specification for each job, process, and operations. 12. In Token or Disc Method, a log book or time register book is maintained by the timekeeper. 13. In Key Recorder System, each worker is given a key which represents worker's identification number. 14. The time-booking involves recording the total number hours each worker spent in carrying out the job. 15. Indirect labor costs are charged to work in process inventory account. 16. In Piece Based Wage plan, wages are determined on the basis of output produced by the workers without considering the time spent in performing the job.

TRUE or FALSE The document that serves as the basis for recording direct labor on a job cost sheet is the time card. 1. 2. The document that serves as the basis for recording direct labor on a job cost sheet is the time ticket. 3. Labor costs are the worker's payroll needed to convert raw materials into finished products. 4. Wages paid to factory supervisors are considered as direct labor. 5. Direct labor costs are charged to Factory Overhead control account. 6. Direct labor costs are wages paid to workers who are directly engaged in the conversion of raw materials to finished goods. 7. Labor cost control requires correct time keeping and improvement in the method of production. 8. Labor costs significantly influence the prime cost per unit. 9. Labor costs significantly influence the conversion cost per unit. 10. Preparation of payroll is an example of timekeeping. 11. The Engineering department is responsible for maintaining control over working conditions and production technique/plan and specification for each job, process, and operations. 12. In Token or Disc Method, a log book or time register book is maintained by the timekeeper. 13. In Key Recorder System, each worker is given a key which represents worker's identification number. 14. The time-booking involves recording the total number hours each worker spent in carrying out the job. 15. Indirect labor costs are charged to work in process inventory account. 16. In Piece Based Wage plan, wages are determined on the basis of output produced by the workers without considering the time spent in performing the job.

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 2DQ: In job order cost accounting, the three elements of manufacturing cost are charged directly to job...
See similar textbooks
icon
Related questions
Question
TRUE or FALSE 1. The document that serves as the basis for recording direct labor on a job cost sheet is the time card. 2. The document that serves as the basis for recording direct labor on a job cost sheet is the time ticket. 3. Labor costs are the worker's payroll needed to convert raw materials into finished products. Wages paid to factory supervisors are considered as direct labor. 5. Direct labor costs are charged to Factory Overhead control account. 6. Direct labor costs are wages paid to workers who are directly engaged in the conversion of raw materials to finished goods. 4. 7. Labor cost control requires correct time keeping and improvement in the method of production. 8. Labor costs significantly influence the prime cost per unit. 9. Labor costs significantly influence the conversion cost per unit. 10. Preparation of payroll is an example of timekeeping. 11. The Engineering department is responsible for maintaining control over working conditions and production technique/plan and specification for each job, process, and operations. 12. In Token or Disc Method, a log book or time register book is maintained by the timekeeper. 13. In Key Recorder System, each worker is given a key which represents worker's identification number. 14. The time-booking involves recording the total number hours each worker spent in carrying out the job. 15. Indirect labor costs are charged to work in process inventory account. 16. In Piece Based Wage plan, wages are determined on the basis of output produced by the workers without considering the time spent in performing the job.
Transcribed Image Text:TRUE or FALSE 1. The document that serves as the basis for recording direct labor on a job cost sheet is the time card. 2. The document that serves as the basis for recording direct labor on a job cost sheet is the time ticket. 3. Labor costs are the worker's payroll needed to convert raw materials into finished products. Wages paid to factory supervisors are considered as direct labor. 5. Direct labor costs are charged to Factory Overhead control account. 6. Direct labor costs are wages paid to workers who are directly engaged in the conversion of raw materials to finished goods. 4. 7. Labor cost control requires correct time keeping and improvement in the method of production. 8. Labor costs significantly influence the prime cost per unit. 9. Labor costs significantly influence the conversion cost per unit. 10. Preparation of payroll is an example of timekeeping. 11. The Engineering department is responsible for maintaining control over working conditions and production technique/plan and specification for each job, process, and operations. 12. In Token or Disc Method, a log book or time register book is maintained by the timekeeper. 13. In Key Recorder System, each worker is given a key which represents worker's identification number. 14. The time-booking involves recording the total number hours each worker spent in carrying out the job. 15. Indirect labor costs are charged to work in process inventory account. 16. In Piece Based Wage plan, wages are determined on the basis of output produced by the workers without considering the time spent in performing the job.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost Sheet
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
College Accounting, Chapters 1-27 (New in Account…
College Accounting, Chapters 1-27 (New in Account…
Accounting
ISBN:
9781305666160
Author:
James A. Heintz, Robert W. Parry
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS