Definition (1):
Materials requisition slip refers to a document authorizing the issuance of raw materials from the storeroom to production.
Definition (2):
“A materials requisition slip forms part of a job cost system, and is used to accumulate direct and indirect material costs for raw materials used in production for a particular job.” The company can transfer the material costs to the job cost record form or template after completion of this requisition slip. This requisition slip should be prepared very carefully so that the particular product doesn’t lack any required material. This is an important document not only in the job cost system but also in the production process.
Definition (3):
This requisition slip is the source document for materials as the time ticket is the source document for labor. The entries are as follows:
Materials
Work in Process Inventory XX
Manufacturing Overhead XX
Raw Materials Inventory XX
Use of the term in Sentence:
- The production manager has instructed us to prepare the materials requisition slip very carefully.
- The storeroom manager was issuing the required materials for production as mentioned in the materials requisition slip.