When direct labor costs are assigned to jobs, _______ is debited and _________ is credited. , a. Work in Process Inventory; Salaries and Wages Payable b. Work in Process Inventory; Factory Labor c. Manufacturing Overhead; Factory Labor d. Factory Labor; Manufacturing Overhead
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What transaction is recorded when direct labor is assigned to jobs ? a. None of these b. a debit to Manufacturing Overhead and a credit to Factory Labor c. a debit to Work in Process Inventory and a credit to Factory Labor d. a debit to Factory Labor and a credit to Manufacturing Overhead
Madhur L.
A company that uses a job order costing system would make the following entry to record the flow of direct materials into production: a. debit Work in Process Inventory, credit Raw Materials Inventory. b. debit Work in Process Inventory, credit Raw Materials Inventory. c. debit Work in Process Inventory, credit Factory Overhead. d. debit Factory Overhead, credit Raw Materials Inventory. e. debit Finished Goods Inventory, credit Raw Materials Inventory.
Jennifer S.
The following events took place at a manufacturing company for the current year: (1) Purchased $95,000 in direct materials. (2) Incurred labor costs as follows: (a) direct, $56,000 and (b) indirect, $13,600. (3) Other manufacturing overhead was $107,000, excluding indirect labor. (4) Transferred 80% of the materials to the manufacturing assembly line. (5) Completed 65% of the Work-in-Process during the year. (6) Sold 85% of the completed goods. (7) There were no beginning inventories. What is the journal entry to record the direct labor costs for the period? A. Labor Inventory XXX Wages Payable XXX B. Work-In-Process Inventory XXX Wages Payable XXX C. Manufacturing Overhead Control XXX Wages Payable XXX D. Wages Expense XXX Cash XXX
Jonathan T.
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Horngren’s Cost Accounting
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Principles of Accounting Volume 1: Financial Accounting
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