Asked by Tiffany Riggs-Kredit on Apr 24, 2024
Verified
The document authorizing the issuance of materials from the storeroom is a
A) materials requisition
B) purchase requisition
C) receiving report
D) purchase order
Materials Requisition
A document used in the manufacturing process to request the transfer of materials from the storeroom to the production floor.
Storeroom
A storeroom is a room or space used to store supplies, materials, or equipment, typically in a business or institutional setting, ensuring items are organized and readily available when needed.
- Discern the documents and procedures relevant to the accounting treatment of materials and labor costs.
Verified Answer
CA
CLARISSA ANN OBRIQUE5 days ago
Final Answer :
A
Explanation :
A materials requisition is the document that authorizes the issuance of materials from the storeroom. This document is used to keep track of the inventory and to ensure that there is enough stock available for production or other purposes. Purchase requisitions are used to request the purchase of goods or services from external vendors, receiving reports document the receipt of goods or materials, and purchase orders are the official order placed with a vendor to purchase goods or services.
Learning Objectives
- Discern the documents and procedures relevant to the accounting treatment of materials and labor costs.