Clock card- Source document used to record the number of hours an employee works and to determine the total labor cost for each pay period. Cost accounting system- Accounting system for manufacturing activities based on the perpetual inventory system. Finished Goods Inventory- Account that controls the finished goods files, which acts as a subsidiary ledger (of the Inventory account) in which the costs of finished goods that are ready for sale are recorded. General accounting system- Accounting system for manufacturing activities based on the periodic inventory system. Goods in Process Inventory- Account in which costs are accumulated for products that are in the process of being produced but are not yet complete; also called work in process inventory. Job- Production of a customized product or service. Job cost sheet-Separate record maintained for each job. Job lot- Production of more than one unit of a customized product or service. Job order cost accounting system
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