Asked by Hannah Baranda on Apr 30, 2024
Verified
The amount of time spent by an employee in the factory is usually recorded on
A) time tickets
B) job order cost sheets
C) employees' earnings records
D) the statement of owner's equity
Time Tickets
Documents used to record the amount of an employee's time spent on each job or task, typically for billing or payroll purposes.
Factory
An establishment or complex of establishments involved in the machine-based production or assembly of merchandise.
- Become familiar with the documents and procedures associated with accounting for materials and labor expenditures.
Verified Answer
AA
AHMAD ALBADAWIMay 01, 2024
Final Answer :
A
Explanation :
Time tickets are used to record the amount of time an employee spends on a particular job or in a factory. Job order cost sheets are used to record the direct labor and materials costs associated with a specific job, not the time spent by individual employees. Employees' earnings records track an employee's wages, deductions, and taxes over time. The statement of owner's equity shows changes in the owner's equity account over a period of time, but it does not record employee time.
Learning Objectives
- Become familiar with the documents and procedures associated with accounting for materials and labor expenditures.
Related questions
In a Job Order Cost Accounting System, When Goods That ...
The Basis for Recording Direct and Indirect Labor Costs Incurred ...
A Summary of the Materials Requisitions Completed During a Period ...
The Document Authorizing the Issuance of Materials from the Storeroom ...
Each Document in the Cost Ledger Is Called a ...