Question
1. Match the phrase to the right answer. -Type of labor incurred by hands on factory workers -Document for capturing labor hours -Account where jobs
1. Match the phrase to the right answer.
-Type of labor incurred by hands on factory workers
-Document for capturing labor hours -Account where jobs areborn
-Type of Overhead put into WIP when using Job Costing
-Landing place for sold jobs
-Cost of finished products for the period Location of allcompleted jobs awaiting sale
Some Options are: Direct, Actual, Timecard, Allocated, Work inprocess, Cost of goods manufactured, Finished Goods, Cost of goodssold.
2. Put the following job costing related events in the propersequence:
- Raw materials are purchased
-The company prepares to start manufacturing a product and opensa job.
-When the product is sold the job moves to cost of goodssold.
-Raw materials are transferred into WIP
-Manufacturing overhead is allocated to WIP
-Direct labor costs are incurred and added to WIP
-As products are completed jobs move to finished goods
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Get StartedRecommended Textbook for
Cost Accounting
Authors: William K. Carter
14th edition
759338094, 978-0759338098
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