When closing overapplied manufacturing overhead to Cost of Goods Sold, which of the following would be true?
A: Work in Process will decrease.
B: Cost of Goods Sold will increase.
C: Net income will decrease.
D: Gross margin will increase.
A: Work in Process will decrease.
B: Cost of Goods Sold will increase.
C: Net income will decrease.
D: Gross margin will increase.
举一反三
- If the size of a tax increases, tax revenue will ( ) A: increase. B: decrease. C: increase, then decrease. D: decrease, then increase.
- Johnson company pays the software company $5,000 with a check that they bought. Which the following statement is true? A: Assets are increase and liabilities are increase. B: Assets are decrease and owner’s equity is decrease. C: Assets are decrease and liabilities are decrease. D: Assets are increase and owner’s equity is increase.
- An increase in the capital stock causes labor productivity to ( ) A: decrease and the standard of living to increase. B: increase and the standard of living to increase. C: decrease and the standard of living to decrease. D: increase while the standard of living remains constant.
- Whenever direct material, direct labor, and manufacturing overhead are recorded on a job cost record, an associated journal entry is made to debit which of the following accounts? （ ） A: Sales Revenue B: Finished Goods Inventory C: Cost of Goods Sold D: Work in Process Inventory
- An increase in the capital stock causes labor productivity to ( ) A: decrease the standard of living to increase. B: increase and the standard of living to increase. C: decrease and the standard of living to decrease.<br/>D<br/>increase while the standard of living remains constant. D: increase while the standard of living remains constant.