Which of the following is an incorrect entry to record the flow of manufacturing costs through the accounts? A. Cost of goods sold XX Work-in-process XX B. Work-in-process XX Manufacturing overhead applied XX C. Work-in-process XX Manufacturing overhead control XX Stores control XX D. Stores control XX Accounts payable XX

Which of the following is an incorrect entry to record the flow of manufacturing costs through the accounts? A. Cost of goods sold XX Work-in-process XX B. Work-in-process XX Manufacturing overhead applied XX C. Work-in-process XX Manufacturing overhead control XX Stores control XX D. Stores control XX Accounts payable XX

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 13MC: In a job order cost system, overhead applied is debited to which account? A. work in process...

See similar textbooks

Similar questions

Why are the overhead costs first accumulated in the manufacturing overhead account instead of in the work in process inventory account?
In a job order cost system, overhead applied is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
A debit balance in Overhead Control:a. indicates applied overhead exceeds actual overhead. b. gives the total actual overhead costs at a given point in time. c. indicates actual overhead costs have entered the work-in-process inventory account. d. equals the total applied overhead at a given point in time.
In a job-order costing system, manufacturing overhead applied is recorded as a credit to: O a. None of the given answer is correct O b. Manufacturing Overhead. Work in Process inventory. O d. Finished Goods inventory. Fi е. Cost of Goods Sold.
Identify the journal entry for abnormal wastage. a. Dr.Material inventory, Cr.Production overheads b. Dr.Costing profit and loss account, Cr.Work in process inventory c. Dr.Production overheads, Cr.Work in process inventory d. Dr.Material inventory, Cr.Work in process inventory
Manufacturing Overhead is a(n)_ a. Equity b. sub-account. c. Liability d. Asset
D. What is the journal entry to dispose of the over- or underapplied overhead? If an amount box does not require an entry, leave it blank. Cost of Goods Sold 38 Manufacturing Overhead
The journal entry to write-off a significant underapplied overhead balance at the end of an accounting period is: A. Applied Manufacturing Overhead xxx Cost of Goods Sold xxx Manufacturing Overhead Control xxx B. Applied Manufacturing Overhead xxx Cost of Goods Sold xxx Manufacturing Overhead Control xxx C. Applied Manufacturing Overhead xxx Work-In-Process Inventory xxx Finished Goods Inventory xxx Cost of Goods Sold xxx Manufacturing Overhead Control xxx D. Applied Manufacturing Overhead xxx Work-In-Process Inventory xxx Finished Goods Inventory xxx Cost of Goods Sold xxx Manufacturing Overhead Control xxx Option A Option B Option C Option D
The amount of indirect labour is _________. A. Accumulated with manufacturing overhead and added to W.I.P. inventory B. Not accumulated with manufacturing overhead but added directly to the W.I.P. inventory C. Accumulated with manufacturing overhead but not added to W.I.P inventory D. Neither accumulated in manufacturing overhead nor added to W.I.P., instead expensed directly as and when incurred in the period
Which of the following would be included in the journa record the requisition of indirect materials? O a. Debit to Work in process inventory O b. Debit to Finished Goods Inventory Oc. Debit to Manufacturing Overhead O d. Debit to Materials inventory
Identify the journal entry for indirect material return to supplier. a. Dr.Material inventory, Cr.Work in process inventory b. Dr.Accounts payable, Cr.Material inventory c. Dr.Production overheads, Cr.Work in process inventory d. Dr.Material inventory, Cr.Accounts payable
In a process costing system, manufacturing overhead applied is usually recorded as a debit to______?