Create an Account

Already have account?

Forgot Your Password ?

Home / Questions / Actual overhead is used to arrive at the cost of goods manufactured

Actual overhead is used to arrive at the cost of goods manufactured

Actual overhead is used to arrive at the cost of goods manufactured.

 

 

22.The cost of goods sold appearing on the income statement as an expense is the normal cost of goods sold.

 

 

23.Overhead costs are assigned to work in process using a predetermined rate.

 

 

24.Actual overhead costs are accumulated in the overhead control account.

 

 

25.The cost of completed units is always debited to work in process and credited to finished goods.

 

 

26.The journal entry for $17,000 materials purchased on account is:

 

Raw Materials17,000

 

Accounts Payable17,000

 

 

 

 

27.In job-order costing, the journal entry for $7,200 raw materials requisitioned for use in production is:

 

Raw Materials7,200

 

Work in Process7,200

 

 

 

 

28.The journal entry for $7,200 raw materials requisitioned for use in production is:

 

Work in Process7,200

 

Raw Materials7,200

 

 

 

 

29.In job-order costing, the journal entry for $1,700 of unpaid direct labour is:

 

Work in Process1,700

 

Wages Payable1,700

 

 

 

 

30.In job-order costing, the journal entry for overhead applied at the rate of $3 per direct labour hour when 210 direct labour hours were worked is:

 

Work in Process630

 

Applied Overhead630

 

 

 

 

 

31.The journal entry for overhead applied at the rate of $3 per direct labour hour when 210 direct labour hours were worked is:

 

Work in Process630

 

Overhead Control630

 

 

 

 

32.In job-order costing, the journal entry for a completed job costing $7,000 but NOT sold is:

 

Finished Goods7,000

 

Work in Process7,000

 

 

 

 

33.The journal entry for $17 of underapplied overhead is:

 

Cost of Goods Sold17

 

Applied Overhead17

Mar 13 2020 View more View Less

Answer (UnSolved)

question Get Solution

Related Questions