6. Which account would be debited when manufacturing overhead is added (applied) to a job?

a. the Cost of Goods Sold account c. the Finished Goods Inventory account

b. the Work in Process Inventory account d. the Manufacturing Overhead account

7. Which account would be debited for the cost of factory indirect labor incurred during a pay period?

a. Work in Process Inventory c. Raw Materials Inventory

b. Finished Goods Inventory d. Manufacturing Overhead

8. The Cost of Goods Manufactured represents:

a. the amount of product cost charged to Work in Process Inventory during the period

b. the amount of product costs added to jobs during the period

c. the cost of goods transferred from Finished Goods Inventory to Cost of Goods Sold during the period

d. the cost of goods completed and transferred from Work in Process Inventory to Finished Goods Inventory during the period

9. An over-applied or under-applied balance in the Manufacturing Overhead account at the end of a period would usually be transferred to:

a. Cost of Goods Sold c. Finished Goods Inventory

b. Cost of Goods Manufactured d. Work in Process Inventory

10. During the month of Sept at Keller Co., goods costing $280,000 were sold on account at 40% more than cost. Which of the following entries or sets of entries would be recorded?

a. debit Cost of Goods Sold for $280,000, debit Net Income for $112,000, and credit Sales for $392,000

b. debit Accounts Receivable for $392,000 and credit Sales for $392,000

c. debit Cost of Goods Sold for $280,000 and credit Finished Goods Inventory for $280,000 AND debit Accounts Receivable for $392,000 and credit Sales for $392,000

d. debit Cost of Goods Sold for $280,000 and credit Work in Process Inventory for $280,000 AND debit Accounts Receivable for $392,000 and credit Sales for $392,000