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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
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Related questions
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Which of the following is TRUE of a completed worksheet?
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Q:
Only temporary accounts appear on the post-closing trial balance.
Q:
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:
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C) proofing.
D) footing.
Q:
A) chart of accounts.
B) ledger.
C) trial balance.
D) journal.
Answer: B
Q:
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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:
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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.