When a job is completed, the total cost of the job is a. subtracted from the raw materials account. b. added to the work-in-process account. c. added to the finished goods account. d. added to the accounts payable account. e. subtracted from the cost of goods sold account.

When a job is completed, the total cost of the job is a. subtracted from the raw materials account. b. added to the work-in-process account. c. added to the finished goods account. d. added to the accounts payable account. e. subtracted from the cost of goods sold account.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 13MC: In a job order cost system, overhead applied is debited to which account? A. work in process...

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Question

When a job is completed, the total cost of the job is

a. subtracted from the raw materials account.

b. added to the work-in-process account.

c. added to the finished goods account.

d. added to the accounts payable account.

e. subtracted from the cost of goods sold account.

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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
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, overhead applied is debited to which account? A. work in process inventory B. finished goods inventory C. manufacturing overhead D. cost of goods sold
The ending balance of which of the following accounts is calculated by summing the totals of the open (unfinished) job-order cost sheets? a. Raw Materials b. Overhead Control c. Work in Process d. Finished Goods e. Cost of Goods Sold
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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
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