Mcq recording of entries1 the entry to record direct labor

Reference no: EM13361354

MCQ: recording of entries

1. The entry to record direct labor costs into production in a job order cost accounting system is _______.
a) debit Factory Overhead, credit Work in Process
b) debit Finished Goods, credit Wages Payable
c) debit Work in Process, credit Wages Payable
d) debit Factory Overhead, credit Wages Payable

2. The recording of the jobs shipped and customers billed would include a debit to ________.
a) Accounts Payable
b) Cash
c) Finished Goods
d) Cost of Goods Sold

3. A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $360,000 and direct labor hours would be 45,000. Actual factory overhead costs incurred were $377,200, and actual direct labor hours were 46,000. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year?
a) $17,000 overapplied
b) $17,000 underapplied
c) $9,200 overapplied
d) $9,200 underapplied

Reference no: EM13361354

Questions Cloud

What are the standard direct labor-hours per unit for : what are the standard direct labor-hours per unit for garrigus corporation?garrigus corporation is developing direct

Question related to standard rate per direct : question related to standard rate per direct labor-hourjeffs corporation is developing direct labor standards. the

The manjiri corporation uses a standard cost system it : the manjiri corporation uses a standard cost system. it produces deluxe widgets and budgets for 1000 units to be

Clarification of supply and demandexplain two factors that : clarification of supply and demandexplain two factors that affect labor supply and two factors that affect labor

Mcq recording of entries1 the entry to record direct labor : mcq recording of entries1. the entry to record direct labor costs into production in a job order cost accounting system

Union labor and contract relationsa response which examines : union labor and contract relationsa response which examines the followinga.defines unions and labor relations and their

Question about income statement amp balance sheetyou are : question about income statement amp balance sheetyou are the chief financial officer cfo of this struggling airline

Question about labor rate variance1 several people play an : question about labor rate variance1. several people play an essential part in setting standards. which of the following

Definitions of public relationsstate your personal : definitions of public relationsstate your personal definition of public relations and list down definitions from three

User Account

All Pages