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The cost of indirect materials used in the factory is recorded as a: A) credit to manufac

The cost of indirect materials used in the factory is recorded as a:

A) credit to manufacturing overhead.

B) credit to work in process inventory.

C) credit to raw materials inventory.

D) credit to direct materials expense.

22) The journal entry needed to record the receipt of a factory utility bill would include a:

A) credit to manufacturing overhead.

B) debit to manufacturing overhead.

C) debit to accounts payable.

D) debit to utilities payable.

23) The journal entry needed to record depreciation on factory equipment would include a:

A) credit to manufacturing overhead.

B) debit to work in process inventory.

C) debit to depreciation expense.

D) credit to accumulated depreciation.

24) The journal entry needed to record depreciation on the factory equipment would include a:

A) debit to manufacturing overhead.

B) debit to work in process inventory.

C) debit to depreciation expense.

D) debit to accumulated depreciation.

25) The journal entry needed to allocate manufacturing overhead to specific jobs would include a:

A) credit to manufacturing overhead.

B) debit to manufacturing overhead.

C) debit to cost of goods sold.

D) credit to work in process inventory.

26) The journal entry needed to record the receipt of a bill from the company's marketing agency would include a:

A) debit to manufacturing overhead.

B) debit to marketing expenses.

C) debit to work in process inventory.

D) credit to work in process inventory.

27) The journal entry needed to record the completion of a job includes a:

A) debit to cost of goods sold.

B) credit to finished goods inventory.

C) debit to work in process inventory.

D) credit to work in process inventory.

28) The journal entry needed to record the completion of a job includes a:

A) debit to cost of goods sold.

B) debit to finished goods inventory.

C) debit to work in process inventory.

D) debit to raw materials inventory.

29) Under a perpetual inventory system, the journal entry needed to record the sale of a job includes a:

A) debit to cost of goods sold and credit to finished goods inventory.

B) debit to finished goods inventory and credit to cost of goods sold.

C) debit to sales revenue and credit to accounts receivable.

D) debit to cost of goods sold and credit to sales revenue.

30) Under a perpetual inventory system, the journal entry needed to record the sale of a job includes a:

A) debit to accounts receivable and credit to sales revenue.

B) debit to finished goods inventory and credit to cost of goods sold.

C) debit to sales revenue and credit to accounts receivable.

D) debit to cost of goods sold and credit to sales revenue

Dec 09 2019 View more View Less

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