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Question
The journal entry to record the incurrence of $1,500 of direct labor and $200 of indirect labor includes which of the following?
A) Debit to Manufacturing overhead for $1,700
B) Debit to Work in process inventory for $1,500 and debit to Finished goods for $200
C) Debit to Work in process inventory for $1,700
D) Debit to Work in process for $1,500, debit to Manufacturing overhead for $200
Answer
This answer is hidden. It contains 31 characters.
Related questions
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Sep Cash collections
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Jun Cash collections
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Q:
Which of the following is TRUE of a completed worksheet?
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B) The total debits in the income statement column equal the dividends paid.
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B) classified form balance sheet.
C) account form balance sheet.
D) audited form balance sheet.
Q:
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Only permanent accounts appear on the post-closing trial balance.
Q:
The post-closing trial balance is an optional step.
Q:
When a business makes a cash payment, the cash account is always debited.
Q:
The accounting process of copying a transaction from the journal to the ledger is called:
A) journalizing.
B) posting.
C) proofing.
D) footing.
Q:
A) chart of accounts.
B) ledger.
C) trial balance.
D) journal.
Answer: B
Q:
Which of the following statements about revenue is CORRECT?
A) Revenues decrease owner's equity, so a revenue account's normal balance is a credit balance.
B) Revenues decrease owner's equity, so a revenue account's normal balance is a debit balance.
C) Revenues increase owner's equity, so a revenue account's normal balance is a debit balance.
D) Revenues increase owner's equity, so a revenue account's normal balance is a credit balance.
Q:
The balance of an account is the:
A) amount remaining in an account.
B) account number, as shown in the chart of accounts.
C) sum of the debits only.
D) sum of the credits only.
Q:
Journalizing a transaction means:
A) calculating the balance in an account.
B) finding the account number in the chart of accounts.
C) recording the transaction, including a brief explanation.
D) copying the information from the journal to the ledger.
Q:
In the accounting system, the first place that transactions are recorded is the ledger.
Q:
For liabilities and revenues, a debit increases the account.
Q:
Zennick Fashion Products uses standard costs for their manufacturing division. Standards specify 3.0 direct labor hours per unit of product. At the beginning of the year, the static budget for variable overhead costs included the following data:
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Estimated direct labor hours: 3,000 hours
At the end of the year, actual data were as follows:
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B) $6,300 Unfavorable
C) $12,000 Favorable
D) $12,000 Unfavorable