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
A: Sales Revenue
B: Finished Goods Inventory
C: Cost of Goods Sold
D: Work in Process Inventory
举一反三
- When products are completed, A: Finished Goods Inventory is credited. B: Work in Process Inventory is credited. C: Cost of Goods Sold is debited. D: Work in Process Inventory is debited.
- When a job is complete: A: Work-in-Process Control is debited B: Finished Goods Control is credited C: the cost of the job is transferred to Manufacturing Overhead Control D: actual direct materials, actual direct manufacturing labor, and allocated manufacturing overhead will comprise the total cost of the job
- In a job-order costing system, manufacturing overhead applied is recorded as a debit to: A: Raw Materials inventory. B: Finished Goods inventory. C: Work in Process inventory. D: Cost of Goods Sold.
- Which of the following costs belongs to Selling and Administrative Costs? A: Direct Labor Cost B: Direct Material Cost C: Depreciation of manufacturing equipment D: Sales Commissions
- 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.