which of the following types of firms would most likely use job-order costing 12
ID: 2463018 • Letter: W
Question
which of the following types of firms would most likely use job-order costing 12. When units are completed, the cost associated with the job is credited to which account? A. Raw materials inventory B. Work in process inventory C. Finished goods inventory D. Cost of goods sold 13. When units a When units are sold, the cost associated with the units is credited to which account? A. Raw materials inventory B. Work in process inventory C. Finished goods inventory D. Cost of goods sold 14. When units are completed, the cost associated with the job is debited to which account? A. Raw materials inventory B. Work in process inventory C. Finished goods inventory D. Cost of goods sold 15. When units are sold, the cost associated with the units is debited to which account? A. Raw materials inventory B. Work in process inventory C. Finished goods inventory D. Cost of goods sold 16. When materials are placed into production, A. raw materials inventory is debited if the materials are traced directly to the job. B. work in process inventory is debited if the materials are traced directly to the job C. manufacturing overhead is debited if the materials are traced directly to the job. D. raw materials inventory is credited only if the materials are traced directly to the job, otherwise manufacturing overhead is credited. 17. If the materials being placed into production are not traced to specific job A. raw materials would be debited. B. work in process would be debited. C. manufacturing overhead would be debited. D. manufacturing overhead would be credited. 18. Which of the following would be used to record the labor cost that is traceable to a specific job? A. Raw materials would be debited B. Work in process would be debited C. Manufacturing overhead would be debited D. Manufacturing overhead would be creditedExplanation / Answer
12. Credited to (B) Work in process inventory account
13 cost credited to (C) Finished Goods Inventory
14 cost of completed goods is debited to (C) Finished Goods Inventory
15 on sale , the cost of sales is debited to (D) Cost of goods sold
16 (B) Work in process is debited and the raw material is credited.
17 (C) manufacturing overhead would be debited.
18 (B) Work in process would be debited.
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