Question: Stan Kaiser is confused about the source documents used in assigning materials and labor costs. Identify the documents and give the entry for each document.

Stan Kaiser is confused about the source documents used in assigning materials and labor costs.

Identify the documents and give the entry for each document.

The source document for materials is the

time ticket

predetermined overhead rate

materials requisition slip

and the source document for labor is the

predetermined overhead rate

materials requisition slip

time ticket

.

The entries are:

Materials:

Account Titles and Explanation

Debit

Credit

XX

XX

XX

Labor:

Account Titles and Explanation

Debit

Credit

XX

XX

XX

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