A document which consists information about labor time usage, for specific job in a specific department, is known as __________?
Correct answer: B. labor time record
- A. selling time record
- B. labor time record
- C. buying time record
- D. direct time record
Explanation
A labor time record documents the time employees spend on particular jobs and departments, supporting the assignment of direct labor costs. Therefore, option b is correct.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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