Job cost sheets contain entries for actual costs incurred in completing a job, but they are not used to record customer payment.
The correct statement is that job cost sheets contain entries for actual direct material, actual direct labor, and actual manufacturing overhead cost incurred in completing a job.
This means that job cost sheets track the costs directly associated with a specific job, including the cost of materials, labor, and overhead.
However, the statement that a job cost sheet is used to record how much a customer pays for the job once the job is completed is incorrect.
In fact, job cost sheets are used internally by a company to track costs and expenses, and are not directly related to the customer's payment.
In summary, job cost sheets contain entries for actual direct material, actual direct labor, and actual manufacturing overhead cost incurred in completing a job, but they are not used to record the customer's payment for the job.