Question

a companys job cost sheets provide a ______ that summarizes the specific jobs that comprise the amounts reported in work in process and finished goods on the balance sheet as well as cost of goods sold on the income statement.

book of original entry
financial statement backup
job cost ledger
subsidiary ledger

Explanation:

<pre_analysis>
{
"quality": "clear",
"question_count": 1,
"skills_matched": [
"direct_cot",
"multiple_choice_formatter",
"explain_then_answer",
"quick"
],
"needs_drawing": false,
"concepts_used": [],
"new_concepts": [
"Job Costing System",
"Subsidiary Ledger"
],
"current_concepts": [
"Job Costing System",
"Subsidiary Ledger",
"Job Cost Sheets"
]
}
</pre_analysis>

<reasoning>

Analyze the role of job cost sheets

Job cost sheets track the specific costs (direct materials, direct labor, and manufacturing overhead) associated with individual jobs.

Define the accounting relationship

In a job-order costing system, the collection of all active job cost sheets serves as a detailed breakdown supporting the summary control accounts (Work in Process, Finished Goods, and Cost of Goods Sold) in the general ledger.

Identify the correct accounting term

A ledger that contains detailed records supporting a single control account in the general ledger is called a subsidiary ledger. Therefore, the job cost sheets collectively form a subsidiary ledger.
</reasoning>

<answer>
<mcq-option>book of original entry</mcq-option>
<mcq-option>financial statement backup</mcq-option>
<mcq-option>job cost ledger</mcq-option>
<mcq-correct>subsidiary ledger</mcq-correct>
</answer>

<post_analysis>
{
"subject": "Business",
"question_type": "Multiple Choice",
"knowledge_point": [
"Business",
"Accounting",
"Job-Order Costing"
]
}
</post_analysis>

Answer:

<pre_analysis>
{
"quality": "clear",
"question_count": 1,
"skills_matched": [
"direct_cot",
"multiple_choice_formatter",
"explain_then_answer",
"quick"
],
"needs_drawing": false,
"concepts_used": [],
"new_concepts": [
"Job Costing System",
"Subsidiary Ledger"
],
"current_concepts": [
"Job Costing System",
"Subsidiary Ledger",
"Job Cost Sheets"
]
}
</pre_analysis>

<reasoning>

Analyze the role of job cost sheets

Job cost sheets track the specific costs (direct materials, direct labor, and manufacturing overhead) associated with individual jobs.

Define the accounting relationship

In a job-order costing system, the collection of all active job cost sheets serves as a detailed breakdown supporting the summary control accounts (Work in Process, Finished Goods, and Cost of Goods Sold) in the general ledger.

Identify the correct accounting term

A ledger that contains detailed records supporting a single control account in the general ledger is called a subsidiary ledger. Therefore, the job cost sheets collectively form a subsidiary ledger.
</reasoning>

<answer>
<mcq-option>book of original entry</mcq-option>
<mcq-option>financial statement backup</mcq-option>
<mcq-option>job cost ledger</mcq-option>
<mcq-correct>subsidiary ledger</mcq-correct>
</answer>

<post_analysis>
{
"subject": "Business",
"question_type": "Multiple Choice",
"knowledge_point": [
"Business",
"Accounting",
"Job-Order Costing"
]
}
</post_analysis>