Final answer:
All of a company's job cost sheets together form what is known as a cost ledger or job cost ledger, which is integral for tracking production costs and job productivity.
Step-by-step explanation:
When all of a company's job cost sheets are viewed collectively, they form what is known as a cost ledger or job cost ledger. This collection serves as a historical record of all costs incurred during the production process for every job and is a key component in tracking job performances and overall productivity. Below is an example of how a table capturing the company's output, total cost, marginal cost, average cost, variable cost, and average variable cost might look:
Output (Units)Total CostMarginal CostAverage CostVariable CostAverage Variable Cost10$1,000$100$100$600$6020$1,900$90$95$1,100$55
Data on productivity and costs can offer valuable insights into the efficiency and profitability of a business.