Profits from a sole proprietorship are reported as taxable income and Question 5 options: can be reported as a deduction. are su
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Answer / Explanation:
To properly answer this question, we first start by defining what a job cost sheet is.
A job cost sheet is used in job-order costing to accumulate manufacturing costs of a specific job.
We should also note that manufacturing costs include direct material cost, direct labor cost and manufacturing overhead.
Actual direct material and actual direct labor costs are recorded since they can be directly traced to a job but a budgeted overhead cost will typically be applied since actual overhead costs are not known till the end of a period.
With the understanding of what a Job Cost Sheet is, we therefore go ahead to preparing the heading of the cost job sheet. However, kindly note that an attachment have been added below showing proper profiling of jobs worked on during the month.
Direct Direct Manufacturing Total Manufacturing Cost of unit
Material Labor Overhead Cost transferred to goods
