Discussion Questions 6. What is the difference between a clock card and time ticket? 1. a. Name two principal types of cost accounting systems. b. Which system provides for a separate record of each particular quantity of product that passes through the factory? c. Which system accumulates the costs for each department or process within the factory? 2. What kind of firm would use a job order cost system? 3. Which account is used in the job order cost system to accumulate direct materials, direct labor, and factory overhead applied to production costs for individual jobs? 4. What document is the source for (a) debiting the accounts in the materials ledger and (b) crediting the accounts in the materials ledger? 5. What is a job cost sheet? 7. Discuss how the predetermined factory overhead rate can be used in job order cost accounting to assist management in pricing jobs. 8. a. How is a predetermined factory overhead rate calculated? b. Name three common bases used in calculating the rate. 9. a. What is (1) overapplied factory overhead and (2) underapplied factory overhead? b. If the factory overhead account has a debit balance, was factory overhead underapplied or overapplied 10. Describe how a job order cost system can be used for professional service businesses