The journal entry to record the completion of a contract in a job costing system for a service firm is: A. Cost of Services Billed xxx Wages Payable xxx B. Work-In-Process Inventory xxx Wages Payable xxx C. Cost of Services Billed xxx Work-In-Process Inventory xxx D. Finished Goods Inventory xxx Work-In-Process Inventory xxx Option A Option B Option C Option D

The journal entry to record the completion of a contract in a job costing system for a service firm is: A. Cost of Services Billed xxx Wages Payable xxx B. Work-In-Process Inventory xxx Wages Payable xxx C. Cost of Services Billed xxx Work-In-Process Inventory xxx D. Finished Goods Inventory xxx Work-In-Process Inventory xxx Option A Option B Option C Option D

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 12MC: In a job order cost system, raw materials purchased are debited to which account? A. raw materials...

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Similar questions

In a job order cost system, factory wage expense is debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods sold
Which document shows the cost of direct materials, direct labor, and overhead applied for each specific job? A. job cost sheet B. purchase order C. materials requisition form D. receiving document
In a job order cost system, raw materials purchased are debited to which account? A. raw materials inventory B. work in process inventory C. finished goods inventory D. cost of goods sold
Which document lists the total direct labor used in a specific job? A. job cost sheet B. purchase order C. employee time ticket D. receiving document
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
Which document lists the inventory that will be removed from the raw materials inventory? A. job cost sheet B. purchase order C. materials requisition form D. receiving document
The journal entry to record the completion of a contract in a job costing system for a service firm is: A. Cost of Services Billed xxx Wages Payable xxx B. Work-In-Process Inventory xxx Wages Payable xxx C. Cost of Services Billed xxx Work-In-Process Inventory xxx D. Finished Goods Inventory xxx Work-In-Process Inventory xxx Option A Option B Option C Option D
In job order costing, on which of the following would labor costs be initially recorded? a. payroll register b. time tickets c. job cost sheets d. clock cards
What document is used to determine the actual amount of direct labor to record on a job cost sheet? a. Wages payable account O b. Payroll register c. Time ticket d. Production order
Identifying job order costing journal entries Analyze the following T-accounts, and describe each lettered transaction. Note that some transactions may be compound entries.
As related to a job order costing system, answer the following short questions: a. What is a job order costing system? Identify three kinds of companies that would use such as system. b. What is a job order? c. What is the purpose of a job order cost card? Identify the kinds of information recorded on it.
In a job-order costing system, direct labor cost is usually recorded as a credit to: a. Cash or Wage Payable.. Ob. Work in Process: С. Cost of Goods Sold. O d. Manufacturing Overhead. e. None of the given answer is correct