Materials requisition slips are costedA) by production supervisors.B) by factory personnel who work on the production line.C) after the goods have been sold.D) using any of the inventory costing methods.

Question

Materials requisition slips are costedA)  by production supervisors.B)  by factory personnel who work on the production line.C)  after the goods have been sold.D)  using any of the inventory costing methods.

Gamers Shaston · Accepted Answer

Final Answer : D, Explanation :  Materials requisition slips are used to requisition raw materials for production purposes. These slips are used to keep track of the amount of raw materials used in the production process. These slips are also used to cost the raw materials used in production. There are various inventory costing methods that can be used to cost the materials requisitioned on the slip, including FIFO, LIFO, and Average Cost methods.

Materials requisition slips are costed

A) by production supervisors.
B) by factory personnel who work on the production line.
C) after the goods have been sold.
D) using any of the inventory costing methods.

Definitions

Learning Objectives

Learning Objectives

Related questions