In a job order cost accounting system, the journal entry to record the flow of direct labor costs. into production consists of a Oa, debit to Factory Overhead and a credit to Wages Payable Ob. debit to Factory Overhead and a credit to Work in Process Oc. debit to Work in Process and a credit to Wages Payable Od. debit to Finished Goods and a credit to Wages Payable

In a job order cost accounting system, the journal entry to record the flow of direct labor costs. into production consists of a Oa, debit to Factory Overhead and a credit to Wages Payable Ob. debit to Factory Overhead and a credit to Work in Process Oc. debit to Work in Process and a credit to Wages Payable Od. debit to Finished Goods and a credit to Wages Payable

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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In a job order cost system, which account shows the overhead used by the company? A. work in process inventory B. finished goods inventory C. cost of goods sold D. manufacturing overhead
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
In a job order cost system, indirect labor incurred is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
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
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A companys individual job sheets show these costs: Overhead is applied at 1.75 times the direct labor cost. Use the data on the cost sheets to perform these tasks: Apply overhead to each of the jobs. Prepare an entry to record the assignment of direct material to work in process. Prepare an entry to record the assignment of direct labor to work in process. Prepare an entry to record the assignment of manufacturing overhead to work in process.
In a job order cost system, direct labor and factory overhead applied are debited to individual jobs. How are these items treated in a process cost system and why?
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